CALGARY, July 7, 2017 /CNW/ - Manitok Energy Inc. ("Manitok") (TSXV: MEI) and Questfire Energy Corp. ("Questfire") (TSXV: Q.A) are pleased to announce that on July 5, 2017 they have entered into a definitive agreement (the "Arrangement Agreement") providing for the acquisition by Manitok of all the issued and outstanding common shares of Questfire (the "Questfire Shares") pursuant to a plan of arrangement under the Business Corporations Act (Alberta) (the "Acquisition"). In addition, Manitok [Read more]
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Enbridge Announces Expiration and Results of Offer by Spectra Energy Capital, LLC to Purchase Notes Due in 2019
CALGARY, ALBERTA--(Marketwired - July 7, 2017) - Enbridge Inc. (TSX:ENB)(NYSE:ENB) (Enbridge or the Company) announced today that the previously announced cash tender offer (the Any and All Tender Offer) by its wholly-owned subsidiary, Spectra Energy Capital, LLC (Spectra Capital) for any and all of its outstanding 8.00% senior unsecured notes due 2019 (the Any and All Notes) expired at 5:00 p.m. New York City time on July 6, 2017. According to information provided by D.F. King & Co., Inc., [Read more]
Oil prices slump over 1 pct on rise in U.S. output
Oil prices fell by more than 1 percent on Friday, with U.S. crude futures dipping below $45 per barrel as news of a rise in U.S. production added to earlier reports that OPEC output was also on the rise. Brent crude futures , the international benchmark for oil prices, were trading down 61 cents, or 1.3 percent, at $47.50 per barrel by 0638 GMT. U.S. West Texas Intermediate (WTI) crude futures were at $44.94 per barrel, down 58 cents, or 1.3 percent. News of the production rise [Read more]
Jaguar Resources Inc. Confirms Terms of Private Placement and Issuance of Shares for Debt
CALGARY, ALBERTA--(Marketwired - July 6, 2017) - Jaguar Resources Inc. ("Jaguar" or the "Company") (TSX VENTURE:JRI) is pleased to confirm that it is proceeding with its previously announced non-brokered private placement of common shares in the capital of the Company ("Common Shares") at a price of $1.20 per share for aggregate gross proceeds of USD$38 million (approximately CDN$49.3 million). In conjunction with closing of the Private Placement, Jaguar plans to issue 6,991,951 Common Shares [Read more]
Trilogy Energy Corp. Agrees to Merge With Paramount Resources Ltd.
CALGARY, ALBERTA--(Marketwired - July 6, 2017) - Trilogy Energy Corp. ("Trilogy" or the "Company") (TSX:TET) announces that it has agreed to merge with Paramount Resources Ltd. ("Paramount"). Under the merger, Paramount would acquire all of the common shares and non-voting shares of Trilogy not already owned by Paramount in exchange for Class A common shares of Paramount on the basis of one Paramount share for every 3.75 Trilogy shares. Paramount today announced that it has also entered into [Read more]
Apache Announces Strategic Exit From Canada
HOUSTON, July 06, 2017 (GLOBE NEWSWIRE) -- Apache Corporation (NYSE:APA) (Nasdaq:APA) announced today it will complete an exit from Canada upon the closing of three recent transactions. Apache has agreed to sell its Apache Canada Ltd. subsidiary to Paramount Resources Ltd. (TSX:POU). This includes properties located principally in the provinces of Alberta and British Columbia. In a separate transaction signed in June, Apache agreed to sell its Provost assets in Alberta to an undisclosed [Read more]
Raise Production Inc. Provides Operational Update
CALGARY, ALBERTA--(Marketwired - July 6, 2017) - Raise Production Inc. (TSX VENTURE:RPC) ("Raise" or the "Company") is pleased to provide an update to its shareholders on recent activities related to the Horizontal Wellbore Production System (the "System") and High Angle Lift Solution ("HALS"). Horizontal Wellbore Production System After five months of successful testing without any issues to either downhole or surface equipment, the Company will be retrieving the System from the test [Read more]
Paramount Resources Ltd. to Acquire Apache Canada Ltd. for $459.5 Million; Paramount and Trilogy Energy Corp. Agree to Merge
CALGARY, July 6, 2017 /CNW/ - Paramount Resources Ltd. (TSX: POU) ("Paramount" or the "Company") is pleased to announce that it has entered into an agreement with certain subsidiaries of Apache Corporation to acquire Apache Canada Ltd. ("Apache Canada") for $459.5 million, plus working capital and other monetary adjustments (the "Apache Canada Acquisition"). Paramount plans to fund the Apache Canada Acquisition with cash on hand and no debt will be assumed. Paramount has also entered into [Read more]
Pengrowth Announces Closing of Swan Hills Asset Sale
CALGARY, ALBERTA--(Marketwired - July 6, 2017) - Pengrowth Energy Corporation (TSX:PGF)(NYSE:PGH) announces that it has closed its previously announced sale of a portion of its Swan Hills assets in North Central Alberta for total cash consideration of $185 million, before closing adjustments. The Company continues to work on finalizing the previously announced sale of the remainder of its Swan Hills assets. The proceeds from this sale will be used to further strengthen the Company's balance [Read more]
Alberta Energy Regulator lays charges against Nexen Energy for 2015 pipeline spill
CALGARY - The Alberta Energy Regulator has laid five charges against Nexen Energy for a pipeline spill two years ago that was one of the largest in provincial history. About five million litres of emulsion — estimated to be roughly a third bitumen and two-thirds water and sand — leaked into muskeg near the company's Long Lake oilsands facility southeast of Fort McMurray. The charges include releasing a substance that may have caused an adverse effect and disturbance to public [Read more]