VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 21, 2016) - Saturn Minerals Inc. (TSX VENTURE:SMI)(FRANKFURT:SMK) ("Saturn" or the "Company") is pleased to announce an extension and increase of its previously announced Private Placement. Based on current acquisition, exploration and development opportunities management of the Company has decided to extend and increase the Private Placement from 10,000,000 Units (the "Units") at a price of CAD $0.10 per Unit for gross proceeds of up to CAD [Read more]
Headlines
Pengrowth Cancels Debentureholder Meeting
CALGARY, ALBERTA--(Marketwired - Dec. 21, 2016) - Pengrowth Energy Corporation (TSX:PGF)(NYSE:PGH) ("Pengrowth" or the "Company") announces an update to its plan regarding the early redemption of its outstanding 6.25% convertible unsecured subordinated debentures due March 31, 2017 (the "Debentures"). As a result of ongoing negotiations with its term noteholders, to amend certain covenants in the notes and to extend the terms of some series of notes, the Company has agreed to cancel the meeting [Read more]
Bellatrix Announces Closing of $80 Million Non-Core Asset Sale
TSX, NYSE: BXE - CALGARY, Dec. 21, 2016 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE: BXE) is pleased to announce that it has completed the previously announced sale of certain non-core assets in the greater Harmattan area of Alberta (the "Harmattan asset sale"). Pursuant to the Harmattan asset sale, the Company received net cash proceeds of approximately $65 million, and made a $15 million vendor take back loan ("VTB Loan") to the purchaser. The VTB Loan bears [Read more]
Canada will capitalize if Trump takes step back on climate change: Trudeau
CALGARY - Prime Minister Justin Trudeau says if the United States takes a step back on fighting climate change under Donald Trump, Canada will capitalize. After a Calgary speech to business owners, Trudeau was asked whether he was committed to his climate plan, which includes a national price on carbon, even if it makes Canada less competitive with the U.S. under the incoming president, who has sent mixed messages on the climate issue. "Let's see what the president actually does [Read more]
TransGlobe Energy Corporation Announces Closing of Canadian Asset Acquisition and Mid-Quarter Egypt Update for Q4 2016
CALGARY, ALBERTA--(Marketwired - Dec. 20, 2016) - TransGlobe Energy Corporation (TSX:TGL)(NASDAQ:TGA) ("TransGlobe" or the "Company") announces the closing of the Canadian acquisition in the Harmattan area of west central Alberta and a mid-quarter Egypt update for the fourth quarter of 2016. All dollar values are expressed in Canadian dollars unless otherwise stated. Acquisition Highlights- Canada Current production ~3,100 barrels of oil equivalent ("boe") per day (57% liquids [Read more]
Madalena Announces Sale of Point Loma Debenture
(All dollar figures are expressed in United States Dollars, unless otherwise noted) CALGARY, Dec. 20, 2016 /CNW/ - Madalena Energy Inc. ("Madalena" or the "Company") (TSXV: MVN and OTCQX: MDLNF) announces that it has sold its CAD $3 million convertible debenture (the "Convertible Debenture") of Point Loma Resources Ltd. (TSXV: PLX) ("Point Loma") for cash proceeds of $522,000 (CAD $700,000). The Convertible Debenture was part of the consideration Madalena received when the non-core Canadian [Read more]
Bonterra Energy Corp. Announces 2017 Operational and Financial Budget and Operations Update for 2016
CALGARY, ALBERTA--(Marketwired - Dec. 20, 2016) - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX:BNE) ("Bonterra" or "the Company") today announces its 2017 operational and financial budget. In the interests of maintaining a prudent balance between funds flow and capital spending plus dividends, Bonterra has set its 2017 capital expenditures budget at approximately $70 million which will largely be directed to new wells and facility upgrades primarily in the Pembina Cardium area. Given [Read more]
Trudeau promises two emergency towing vessels for West Coast
VANCOUVER - During his first visit to British Columbia since the controversial approval of the Trans Mountain pipeline expansion, Prime Minister Justin Trudeau grappled with two major issues facing the province — tanker traffic and the opioid crisis. Trudeau toured a commercial tugboat on Tuesday in Vancouver, where he announced that two emergency towing vessels that were promised as part of a federal plan to protect Canada's oceans will operate on the West Coast. "Both of these [Read more]
When capital returns to oil and gas development, where will it go?
The energy world is waiting on pins and needles for the good times to return, or if not on pins and needles then waiting in the bar. The human toll of the downturn has been significant, especially for a generation that hasn’t really seen the down side of the commodity price cycle. Well now they've seen it good and hard. The good news is that it is indeed a cycle. There is a weird consensus out there however that the good times might only come back briefly, just to put in a quick appearance [Read more]
How has Alberta done cleaning up liabilities in 2016?
Regardless of the benefits the oil and gas industry provides to everyone across Canada, the industry will always face criticism. 2016 has been one of the most challenging years for operators with record low oil and natural gas prices. Western Canada Select dropped below $14/bbl in January 2016 and AECO spot pricing was under $0.50/mcf in May 2016. Although the majority of companies posted multimillion dollar losses, they proved to reduce their liabilities. Below is a plot of the monthly total [Read more]