CALGARY, ALBERTA--(Marketwired - June 14, 2016) - Lightstream Resources Ltd. (the "Company" or "Lightstream") (TSX:LTS) announces that we have chosen to defer our US$32.1 million semi-annual interest payment due June 15, 2016 in respect to our outstanding 9.875% second lien notes ("Secured Notes"). Pursuant to the indenture governing the Secured Notes, we have until July 15, 2016 (30 days) to make the interest payment before an event of default occurs. In addition, we are postponing our Annual [Read more]
Headlines
Suncor restocking Petro-Canada stations after Edmonton refinery restart
CALGARY - Suncor Energy says its Edmonton refinery is working to restock Petro-Canada stations after fuel shortages across Western Canada.A company spokeswoman said it will be a matter of days before fuel stocks are replenished after the refinery outage on May 27 led to significantly reduced production of diesel and particularly gasoline.The company said supply disruptions from the Fort McMurray wildfire added to the shortages, which resulted in Petro-Canada stations from Winnipeg to the B.C. [Read more]
Do we really have 100 years of natural gas? Maybe, if we avoid the feral pig approach to development
Last week I postulated that the world is possibly looking at massive production shortfalls, and despite current conventional wisdom shale resources won’t be able to make up the difference. There are a number of reasons for this misconception, with a primary one being that the media always needs a current object of desire that sweeps all before its path. Some weeks it’s Justin Bieber’s tattoos, others it’s shale resources. (Some phenomenon last longer than others, such as climate change – often [Read more]
Harvest Operations Announces Expiration of Exchange Offer and Consent Solicitation
CALGARY, ALBERTA--(Marketwired - June 14, 2016) - Harvest Operations Corp. ("Harvest") today announced that its previously announced offer to exchange (the "Exchange Offer") any and all of its outstanding 67/8% Senior Notes due 2017 (the "Old Notes") for new 2.33% Guaranteed Notes due 2021 (the "New Notes") issued by Harvest and unconditionally and irrevocably guaranteed (such guarantee, the "Guarantee") by Korea National Oil Corporation ("KNOC") and related consent solicitation (the "Consent [Read more]
Quattro Releases 1st Quarter Financials, Increasing Oil Production by 150%
CALGARY, Alberta, June 14, 2016 (GLOBE NEWSWIRE) -- Quattro Exploration and Production Ltd. (TSX-V:QXP) ("Quattro" or the "Company") is pleased to report its financial results for the quarter ended March 31st, 2016, reporting a CDN $0.01 per share profit, exiting the 1st quarter with an additional 165 barrels per day of oil production. The Company’s production averaged 1,646 boe/d in the first quarter with oil production increasing 150% to 465 barrels per day, as a result of the closing of [Read more]
NuVista Energy Ltd. Announces Strategic Update
CALGARY, ALBERTA--(Marketwired - June 13, 2016) - NuVista Energy Ltd. ("NuVista" or the "Company") (TSX:NVA) is pleased to announce a number of key steps that have been taken to increase growth, value, and liquidity for the remainder of 2016 and 2017. These include the sale of our W6 Deep Basin Non-Montney Asset, the placement of senior unsecured notes ("Senior Notes"), and the augmentation of our spending plans. These steps, together with recent strengthening of commodity strip prices, allow us [Read more]
Toscana Energy Reports Voting Results of Annual and Special Meeting of Shareholders
CALGARY, Alberta, June 13, 2016 (GLOBE NEWSWIRE) -- Toscana Energy Income Corporation ("Toscana Energy" or the "Company") (TSX:TEI) held its annual and special meeting of shareholders on April 25, 2016 in Calgary, Alberta. A total of 911,933 common shares ("Common Shares") of the Company, representing approximately 12.70% of Common Shares, were represented in person or by proxy at the meeting. During the business proceedings at the meeting, shareholders approved resolutions fixing the number [Read more]
Toro Oil & Gas Ltd. Announces Overnight Marketed Offering
CALGARY, June 13, 2016 /CNW/ - Toro Oil & Gas Ltd. (TSXV: TOO) ("Toro" or the "Company") announces that it has filed and obtained a receipt for a preliminary short form prospectus in connection with an overnight marketed offering (the "Offering") of units ("Units") of the Company. The price per Unit will be determined in the context of the market. Each Unit will consist of one common share ("Common Share") and one-half of one transferable common share purchase warrant ("Warrant") of the [Read more]
TransCanada Partnership Awarded Contract to Build US$2.1 Billion Sur de Texas-Tuxpan Natural Gas Pipeline in Mexico
MEXICO CITY, MEXICO and CALGARY, ALBERTA--(Marketwired - June 13, 2016) - News Release -- TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced that its joint venture with IEnova, Infraestructura Marina del Golfo (IMG), has been chosen to build, own and operate the US$2.1 billion Sur de Texas-Tuxpan natural gas pipeline in Mexico. The project will be supported by a 25-year natural gas transportation service contract for 2.6 billion cubic feet a day with the Comisión Federal [Read more]
No recession expected for Saskatchewan this year, but economy remains weak
OTTAWA, June 13, 2016 /CNW/ - Saskatchewan will manage to crawl out of recession this year but its economy remains weak as only 0.2 per cent in real GDP growth is expected, according to The Conference Board of Canada's spring Provincial Outlook. "Saskatchewan's economy will narrowly avoid recession this year. The province's mining sector continues to suffer from lower oil, uranium, and potash prices, while the job market has been shedding jobs and consumers are reluctant to open their [Read more]