CALGARY, Alberta, July 02, 2017 (GLOBE NEWSWIRE) -- Butte Energy Inc. (the “Corporation”) (TSXV:BEN.H) announces it has entered into an agreement regarding the sale of its Chigwell properties to RKSmith Energy Corp. for $35,000 (the “Transaction”). The Transaction, if completed, will constitute the final disposition of all the Corporation’s remaining assets and no finders fees will be paid in respect of the Transaction. The closing of the Transaction is contingent upon customary closing [Read more]
Headlines
Canada Weekly Rig Count Up 19 to 189
Western Canada’s fleet of drilling rigs have risen again this week to 189 actively drilling rigs according to data collected by Baker Hughes for the week of June 30. Drilling activity has increased the last month, and is still very active in comparison to last year’s count. From one week ago, Alberta rig counts rose from 94 to 115, Saskatchewan rig counts decreased for the first time after six consecutive weeks of gains – current count at 46 which is down from 48 last week. Oil drilling [Read more]
AER Issues Order to Journey Energy Inc. Following Two Crude Oil Emulsion Spills
CALGARY, Alberta, June 30, 2017 (GLOBE NEWSWIRE) -- The Alberta Energy Regulator (AER) has issued an order to Journey Energy Inc. (Journey) in response to two releases of an unknown amount of crude oil emulsion near Winfield, Alberta that was originally reported to the AER on June 28, 2017. The order directs the company to: immediately suspend operations, contain the release and prevent it from spreading; identify anyone who may be affected by the release and make sure they are [Read more]
Canbriam Energy Announces C$100 Million Private Equity Investment
CALGARY, June 30, 2017 /CNW/ - Canbriam Energy ("Canbriam") has completed a US$74 million (approximately C$100 million) investment from its existing private equity sponsors which include Warburg Pincus, ARC Financial, Ontario Teachers' Pension Plan, BlackRock and State Street (formerly GE Capital). The investment was funded on a pro rata basis with existing private equity shareholders and management. "This planned equity investment will help fund the infrastructure additions required for [Read more]
Trudeau, Notley welcome B.C.’s Horgan despite Trans Mountain pipeline rift
VICTORIA - British Columbia premier-designate John Horgan said he spoke with Prime Minister Justin Trudeau on Friday about the softwood trade dispute with the United States and he is planning meetings in Ottawa and Washington, D.C. Horgan, who will head a minority NDP government, said he expected the meeting with Trudeau will happen before the recall of B.C.'s legislature, now expected shortly after Labour Day. "We talked about housing," he said. "We talked about transit. We [Read more]
BlackPearl Announces $75 Million Senior Secured Second Lien Note Financing and Amendments to Existing Credit Facilities
CALGARY, ALBERTA--(Marketwired - June 30, 2017) - BlackPearl Resources Inc. ("BlackPearl" or the "Company") (TSX:PXX)(OMX:PXXS) is pleased to announce that it has issued $75 million aggregate principal amount of senior secured second lien notes ("Notes") to Prudential Capital Group. The Notes were issued at par and bear interest at 8.00% per year, payable quarterly in arrears, and mature on June 30, 2020. The Notes were issued by way of a private placement and pursuant to a note purchase [Read more]
Oil price slump removes the ‘outrageous’ from Calgary Stampede party plans
CALGARY - Michael Werbisky fondly remembers getting the shaft at the posh Hyatt Regency Hotel during the Calgary Stampede about 10 years ago. The owner of Western Decor and Displays says he won a $50,000 contract to build an old-fashioned gold mine shaft in a hallway for a law firm's Stampede party, along with a saloon set and other rustic decorations. "We had it all done up in black material and the posts were done in rough wood and knee braces and so on, old-fashioned lanterns, [Read more]
Eagle Energy Inc. Announces Proactive Amendments to its Four Year Term Loan Agreement
CALGARY, ALBERTA--(Marketwired - June 29, 2017) - Eagle Energy Inc. ("Eagle") (TSX:EGL) today announces that it has proactively worked with its lender, White Oak Global Advisors, LLC ("White Oak") to relax certain financial covenant thresholds in recognition of prevailing low oil prices during the second quarter. As a result, Eagle expects to be onside with all its financial covenants without any need for waivers. White Oak has exhibited a willingness to work as a financial partner with Eagle [Read more]
British Columbia government toppled in non-confidence vote
VICTORIA, British Columbia (Reuters) - British Columbia's Liberal government was defeated on Thursday in a non-confidence vote, as expected, paving the way for the left-leaning New Democrats to rule the Western Canadian province for the first time in 16 years. Such a prospect has unnerved investors in Canada's third-most populous province, not least owners of oil and gas projects such as Kinder Morgan Inc's C$7.4 billion Trans Mountain pipeline expansion, which the New Democratic Party (NDP) [Read more]
Razor Energy Corp. Announces Graduation to Tier 1 Listing on the TSX Venture Exchange
CALGARY, ALBERTA--(Marketwired - June 29, 2017) - Razor Energy Corp. ("Razor" or the "Company") (TSX VENTURE:RZE) (www.razor-energy.com) is pleased to announce that it has been approved for graduation to Tier 1 Issuer status from Tier 2 Issuer status by the TSX Venture Exchange (the "TSXV"). With the graduation to a Tier 1 listing, the common shares of Razor ("Common Shares") previously deposited into escrow pursuant to the rules of the TSXV will now be governed by the release provisions of [Read more]