CALGARY, Sept. 13, 2018 /CNW/ - Cequence Energy Ltd. (TSX: CQE) ("Cequence" or the "Company") is pleased to announce the successful completion of its previously announced equity rights offering (the "Rights Offering"), which was over-subscribed and raised the maximum available gross proceeds of $8,593,476. Cequence issued a total of 245,527,883 common shares under the Rights Offering and now has a total of 491,055,766 common shares issued and outstanding. Although Cequence had standby [Read more]
Headlines
Prairie Provident Resources Inc. Announces Strategic Acquisition of Marquee Energy Ltd. to Unlock Significant Undeveloped Light Oil Growth Potential; Concurrent Flow-Through and Unit Financing
CALGARY, Alberta, Sept. 13, 2018 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. ("Prairie Provident" or the "Company") (TSX: PPR) and Marquee Energy Ltd. ("Marquee") (TSX-V: MQX) are pleased to announce that they have entered into an agreement to effect the acquisition of Marquee (the “Acquisition”) by way of a plan of arrangement (the "Arrangement"). Under the terms of the Arrangement, Marquee shareholders will receive 0.0886 of a Prairie Provident common share ("Prairie Provident Share") [Read more]
Canada environment minister: ‘No apologies’ for oil sector support
Canada's top climate change official on Thursday said she would make no apologies for the nation's support for its oil producers, saying environmental and economic policies must consider the needs of all Canadians. Prime Minister Justin Trudeau's government has sought to cast Canada as a global leader in combating climate change, particularly since U.S. President Donald Trump withdrew Washington's support for an international deal to curb global warming. But Trudeau's government is also [Read more]
Global oil production hits a new record, led by US and OPEC
The world's supply of oil hit a record last month, yet another sign of oil's dominance over the energy landscape. The International Energy Agency said Thursday that the global oil supply reached 100 million barrels a day for the first time ever, boosted by rising production in the U.S. and several OPEC nations. Demand for oil grew more slowly in the second quarter but will continue to rise this year and in 2019, the group said. Much of the increase in production is coming from OPEC and [Read more]
Op Ed: My Open Letter to the Senate of Canada on Bill C-69
Dear Senator, I am writing you today to implore you to stop Bill C-69. As a Senator you have the power to apply sober second thought to this legislation and do what is right for Canada. I have been involved in the energy sector over the past 25 years in a variety of facets, from the raising of capital (Managing Director of Institutional Research) through to the deployment of that capital (Chief Financial Officer of a private oil and gas producer). Over those years I have come to understand [Read more]
TD Bank says Alberta’s recovery ‘not heroic,’ but economy is improving
CALGARY - TD Bank says Alberta's battered economy is headed in the right direction, but warns there are still a number of hurdles that could hinder recovery. A report released Thursday by deputy chief economist Derek Burleton is predicting economic growth between two and 2 1/2 per cent for Alberta in the next year which follows an increase of nearly 4.9 per cent in 2017. "It was a nice bounce back last year, but growth is settling down this year and we're of the mind that you're gonna get [Read more]
IHS report forecasts 16 to 23 per cent emissions intensity drop for oilsands
CALGARY - A new report by research firm IHS Markit forecasts the intensity of oilsands emissions to improve by between 16 and 23 per cent by 2030. The report by IHS vice-president Kevin Birn found emissions intensity, which measures how much greenhouse gas emissions are produced per barrel of crude, to have already dropped by 21 per cent between 2009 and 2017. Birn says the intensity of mining-based oilsands operations stood at an average of 83 kilograms of carbon dioxide per barrel last [Read more]
Shell to Release Offshore Rights on Canada’s West Coast to Support Marine Conservation
CALGARY, Sept. 13, 2018 /CNW/ - To support marine conservation efforts, Shell Canada ("Shell") today announced it intends to voluntarily release about 50,000 km2 of exploratory permits off coastal British Columbia, Canada. More than one and a half times the size of Vancouver Island, the acreage is located in the Queen Charlotte and Tofino basins covering vast and environmentally rich areas. Shell's permit area, which has been under Federal moratorium since 1972, overlaps with about one-third of [Read more]
Regional Assessment of Offshore Oil and Gas Exploratory Drilling East of Newfoundland and Labrador – Public Comments Invited
OTTAWA, Sept. 13, 2018 /CNW/ - The Canadian Environmental Assessment Agency (the Agency), along with the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB), Natural Resources Canada and the Department of Natural Resources for Newfoundland and Labrador, have developed a draft Agreement for a Regional Assessment of Offshore Oil and Gas Exploratory Drilling East of Newfoundland and Labrador, in the Canada-Newfoundland and Labrador Offshore Area. This is the first regional [Read more]
Point Loma Resources Announces Non-core Gas Property Dispositions for Cash Proceeds
Calgary, Alberta (FSCwire) - Point Loma Resources Ltd. (TSX VENTURE: PLX) (the “Corporation” or “Point Loma”) is pleased to announce that it has entered into an agreement to sell a minor interest in a gas property acquired as part of a previous transaction. The sale price of the non-core disposition is approximately $350,000 net to Point Loma, before customary closing adjustments, and will be paid in cash. Highlights Point Loma and Salt Bush Energy (‘Joint Venture Partner”) have [Read more]