OKLAHOMA CITY--(BUSINESS WIRE)--Devon Energy Corp. (NYSE: DVN) today announced that it has entered into a definitive agreement to sell its Canadian business to Canadian Natural Resources Limited for CAD $3.8 billion, or USD $2.8 billion. This transaction is subject to customary terms and conditions and is expected to close by the end of the second quarter of 2019. Proceeds from the sale of Canada will be used for debt reduction. “The sale of Canada is an important step in executing Devon’s [Read more]
Headlines
Canadian Natural Resources Limited Announces the Acquisition of Substantially All of the Assets of Devon Canada Corporation
CALGARY, Alberta, May 29, 2019 (GLOBE NEWSWIRE) -- Canadian Natural Resources Limited (“Canadian Natural” or the “Company”) announces it has entered into an agreement, subject to regulatory approval, to acquire substantially all of the assets of Devon Canada Corporation (“Devon”), for a cash purchase price of C$3.775 billion (subject to closing adjustments), with an effective date of January 1, 2019 and a targeted closing date of June 27, 2019. Devon’s high quality land and production are [Read more]
Delphi Energy Corp. Provides Credit Facility Update
CALGARY, Alberta, May 28, 2019 (GLOBE NEWSWIRE) -- Delphi Energy Corp. (“Delphi” or the “Company”) announces that the Company’s syndicate of lenders, led by Alberta Treasury Branches and including The Bank of Nova Scotia and Bank of Montreal, has extended the term out date of the Company’s $105 million senior secured credit facility to June 14, 2019 in order to complete the annual borrowing base redetermination and extension documentation. Delphi currently has $82.0 million drawn on the [Read more]
New Oil and Gas Jobs From BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location May. 28 IRON TECHNICIAN - (GPC) Trican Well Service Ltd. Grande Prairie May. 28 ELECTRONICS TECHNICIAN - (RDT) Trican Well Service Ltd. Red Deer May. 28 Senior [Read more]
Is quest for Canadian oil independence more a political pitch than economics?
OTTAWA - Conservative Leader Andrew Scheer says he wants to end Canadian imports of foreign oil by 2030, a move experts say would mostly affect purchases from the United States and could endanger deep trade relationships. Scheer raised the idea in a recent speech, stating Canada shouldn't buy oil from "rogue states" with poor human-rights and environmental records, like Iran, Venezuela and Saudi Arabia. In dollar terms, the vast majority of Canadian oil imports — about 64 per cent — came from [Read more]
Bellatrix Obtains Final Court Order Approving Its Recapitalization Transaction
CALGARY, Alberta, May 28, 2019 (GLOBE NEWSWIRE) -- Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX: BXE) announced today that, in connection with the previously announced recapitalization transaction (the “Recapitalization Transaction”) described in the Company’s management information circular dated April 18, 2019, the Company has obtained a final court order (the “Final Order”) from the Ontario Superior Court of Justice (Commercial List) approving the plan of arrangement under [Read more]
TC Energy expects to realize $1.15 billion from the partial monetization of Northern Courier Pipeline
CALGARY, Alberta, May 28, 2019 (GLOBE NEWSWIRE) -- News Release - TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) announced today that it has entered into an agreement to sell an 85 per cent equity interest in Northern Courier Pipeline to Alberta Investment Management Corporation (AIMCo). In conjunction with the sale, TC Energy also expects that Northern Courier Pipeline will undertake a financing of long-term, non-recourse debt, the proceeds of which are expected to be fully distributed to [Read more]
Husky Energy cuts five-year budget, raises cash flow target
Husky Energy Inc on Tuesday nearly doubled its free cash flow target over five years and cut its capital spending at a time when investors have been calling on oil and gas companies to shore up capital for buybacks and dividends.Total free cash flow before dividends is expected to reach C$8.7 billion between 2019 and 2023, compared with previous estimate of C$4.8 billion between 2018 and 2022. "Husky's updated five-year plan... achieves a significant increase in free cash flow [Read more]
Sproule Webinar: The Competitiveness of Canadian Natural Gas and LNG on a Global Scale
Sproule invites you to join us: The Competitiveness of Canadian Natural Gas and LNG on a Global Scale Thursday, June 13 | 10:00 am MST | 45-Minutes Join Sproule VP, Chris Mylde and Dave Tulk, Principal, GTI for a complimentary webinar featuring insights on how Canadian LNG and natural gas compare to other basins around the world. These experts will dive into Canada's inherent advantages and how Canada can evolve to maximize competitiveness on a global scale. Register Here [Read more]
AltaGas Charts a New Course for Canadian Energy With First Cargo and Grand Opening of Ridley Island Propane Export Terminal
Canada emerges as a global propane supplier with completion of the country's first liquefied petroleum gas (LPG) marine export facility CALGARY, May 28, 2019 /CNW/ - AltaGas Ltd. (AltaGas) (TSX: ALA) today celebrates the grand opening of its Ridley Island Propane Export Terminal (RIPET), located in Prince Rupert, British Columbia – the first marine export facility for propane in Canada. The facility began introducing propane feedstock in mid-April, and the first shipment departed the terminal [Read more]