CALGARY, ALBERTA--(Marketwired - Aug. 3, 2016) - Spartan Energy Corp. ("Spartan" or the "Company") (TSX:SPE) is pleased to announce that it has completed the acquisition of approximately 450 boe/d (93% oil and liquids) of production in southeast Saskatchewan for a cash purchase price of $24 million (the "Acquisition"). Spartan is also pleased to announce that it has entered into a bought deal financing agreement with a syndicate of underwriters co-led by Peters & Co. Limited, GMP [Read more]
Headlines
Veresen Announces Enhanced Funding Strategy Through Pursuing Sale of Power Business and the Suspension of DRIP, Second Quarter Financial Results and Increased Guidance
CALGARY, ALBERTA--(Marketwired - Aug. 3, 2016) - Veresen Inc. ("Veresen") (TSX:VSN) today announced it will pursue the sale of its power generation business and will suspend its Premium Dividend™ and Dividend Reinvestment Plan. Proceeds from the divestiture will be invested to develop Veresen's significant inventory of contracted capital projects in the core natural gas and NGL infrastructure business. These steps will result in a company with the following attributes: Integrated natural [Read more]
There’s a company drilling for oil 300 km Northeast of Regina
Regulatory uncertainty in Alberta's resource industry, strong conservative leadership by Saskatchewan premier Brad Wall and increased demand for low-cost conventional operations are sending oil and gas investors over provincial lines into Saskatchewan. Here red tape is less restrictive, the political environment inspires confidence in oil and gas operations, and the predominance of easier to produce light crude is attracting companies such as Teine energy, Raging River and Crescent Point. [Read more]
Red Cross says nearly $300M raised for Fort McMurray after fire
FORT MCMURRAY, Alta. - The Canadian Red Cross says $299 million has been raised to help with recovery from the Fort McMurray wildfire, with some money earmarked for people who can't make their mortgage payments or didn't have enough insurance. Red Cross CEO Conrad Sauve said this "unprecedented outpouring of support" included $165 million donated by Canadians to the charity. The federal government contributed $104 million to match funds donated made by individual Canadians and [Read more]
Trinidad just increased its quarterly revenue by NOT drilling
CALGARY - In an odd twist linked to the energy industry downturn, one of Canada's largest drilling companies says it earned more revenue in the second quarter from clients who didn't want it to go to work than from those who paid to have wells drilled. Trinidad Drilling (TSX:TDG) said customers who didn't want to produce oil and gas in a depressed price market paid almost $50 million in the three months ended June 30 to either terminate take-or-pay drilling contracts or in standby fees [Read more]
Arsenal Energy Inc. Announces Amended and Restated Arrangement Agreement and Receipt of Interim Order
CALGARY, ALBERTA--(Marketwired - Aug. 3, 2016) - Arsenal Energy Inc. ("Arsenal") (TSX:AEI)(OTC PINK:AEYIF) is pleased to announce that, in connection with its previously announced business combination Lone Pine Resources Canada Ltd. ("Lone Pine") by way of a plan of arrangement (the "Arrangement") under the Business Corporations Act (Alberta), it has entered into an amended and restated arrangement agreement ("Amended and Restated Arrangement Agreement") with Lone Pine, amended as of August 2, [Read more]
Irving Oil to buy Ireland’s only refinery from Phillips 66; price undisclosed
SAINT JOHN, N.B. - Irving Oil has struck a deal to buy Ireland's only refinery in a move that could help the New Brunswick-based company fulfil its ambitions of shipping crude overseas. The privately owned firm announced Wednesday it is buying the Whitegate refinery near Cork for an undisclosed price. The purchase of the 57-year-old refinery from Houston-based Phillips 66 will extend Irving Oil's reach across the Atlantic, the company said. "It's a good day for our [Read more]
Enbridge to spend US$1.5 billion for minority stake in Bakken pipeline system
CALGARY - Enbridge Inc. and partner companies have struck a US$2-billion deal to buy about one-third ownership in a pipeline system that will carry crude oil from North Dakota to the U.S. Midwest and the U.S. Gulf Coast. Calgary-based Enbridge (TSX:ENB) will provide US$1.5 billion to its affiliate Enbridge Energy Partners (NYSE:EEP), which will acquire a 27.6 per cent indirect interest in the Bakken pipeline system Ohio-based Marathon Petroleum will pay a further US$500 million [Read more]
Cardinal Energy Ltd. Announces Second Quarter Results
CALGARY, ALBERTA--(Marketwired - Aug. 2, 2016) - Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX:CJ) is pleased to announce its operating and financial results for the three and six months ended June 30, 2016. The Company's unaudited financial statements and management's discussion and analysis for the quarter ended June 30, 2016, have been filed on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com and on Cardinal's website at [Read more]
Husky Energy and CNOOC Limited Announce Agreement for Liwan Gas Project
CALGARY, AB--(Marketwired - August 02, 2016) - Husky Energy's (TSX: HSE) China subsidiary has signed a Heads of Agreement (HOA) with CNOOC Limited and relevant companies for the price adjustment of natural gas from the Liwan 3-1 and Liuhua 34-2 fields that would see the price set at $12.50-15.00 Cdn per thousand cubic feet (mcf) at current exchange rates. "Long term fundamentals remain strong for natural gas demand in China. The price adjustment will allow Husky and CNOOC to maintain their [Read more]