CALGARY, Alberta (Reuters) - The Canadian government's decision to buy Kinder Morgan Canada Ltd’s Trans Mountain pipeline was brought about by a “particularly problematic” situation and is not a symbol of how things get done in the country, the finance minister said on Wednesday. the federal government on Tuesday agreed to buy the pipeline for $4.5 billion in an effort to save a project that faces formidable opposition from environmentalists and British Columbia officials worried the pipeline [Read more]
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Kinder Morgan Canada share target cut as growth hopes fall post pipeline deal
CALGARY - Analysts at CIBC have cut their target share price for Kinder Morgan Canada Ltd. and say its future is cloudy in the wake of its deal to sell its biggest current and growth asset — the Trans Mountain pipeline system — to the federal government. They say in a research report the company will be left cash-rich but prospect-poor after it agreed to sell its existing 300,000-barrel-per-day pipeline and the delayed 590,000-bpd expansion project for $4.5 billion. Kinder Morgan Canada [Read more]
Corporate Divestiture: Primrose Drilling Ventures Ltd.
Sayer Energy Advisors has been engaged to assist 1280417 Alberta Ltd. (“1280417”) with a corporate sales process. 1280417 is the sole shareholder of Primrose Drilling Ventures Ltd. (“Primrose” or the “Company”), which is a private oil and natural gas company. 1280417’s sole asset is its ownership of Primrose. Primrose has income tax pools totaling approximately $5.8 million; it will have no working capital deficiency or surplus at closing. Primrose currently produces approximately 354 boe/d [Read more]
Strategic Oil & Gas Announces Management Changes
CALGARY, Alberta, May 30, 2018 (GLOBE NEWSWIRE) -- Strategic Oil & Gas Ltd. (TSXV:SOG) (“Strategic” or the “Company”) is pleased to announce that Amanda Reitenbach will be joining the Company as Vice-President, Development and Operations effective July 9, 2018. Ms. Reitenbach was most recently development manager for the Cardium and Deep Basin operating unit at an intermediate publicly traded oil and gas company, where she was successful in building a high performance technical team and [Read more]
Leucrotta Announces Q1 2018 Financial and Operating Results
CALGARY, Alberta, May 30, 2018 (GLOBE NEWSWIRE) -- LEUCROTTA EXPLORATION INC. (TSXV:LXE) (“Leucrotta” or the “Company”) is pleased to announce its financial and operating results for the three months ended March 31, 2018. All dollar figures are Canadian dollars unless otherwise noted. HIGHLIGHTS Increased production 122% to 4,180 boe/d in Q1 2018 from 1,881 boe/d in Q1 2017 (increased 10% from 3,802 boe/d in Q4 2017). Increased adjusted funds flow 393% to $6.4 million in Q1 2018 from $1.3 [Read more]
2018 Global Petroleum Show: Last Chance to Register Before June 1st!
Marquee Energy Ltd. Announces First Quarter 2018 Financial and Operating Results
CALGARY, May 29, 2018 /CNW/ - Marquee Energy Ltd. ("Marquee" or the "Company") (TSXV: "MQX") is pleased to report its operational and financial results for the three months ended March 31, 2018. The Company's Financial Statements as well as the corresponding Management's Discussion and Analysis for the three months ended March 31, 2018 are available on its website www.marquee-energy.com as well as on SEDAR at www.sedar.com. Q1 2018 HIGHLIGHTS Brought five new horizontal Banff wells on [Read more]
Keyera Proceeding With Phase Two of its Wapiti Gas Plant
CALGARY, May 29, 2018 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") today announced it is proceeding with phase two of its Wapiti Gas Plant (the "Plant"), adding 150 million cubic feet per day of sour gas processing to the Plant, which is currently under construction south of Grande Prairie, Alberta. Based on current plans, construction of this second phase is expected to be completed in mid-2020 at an estimated cost of approximately $150 million. In connection with construction of the second [Read more]
Cation Capital Comments on Crescent Point Energy’s New Transformation Plan
Notes that Crescent Point Has Adopted Key Elements of Cation’s Call for Change, Less than a Month After Vigorously Opposing It Credits Positive Developments at Crescent Point to Shareholders who Voted for Change CALGARY, Alberta--(BUSINESS WIRE)--#CPG--Cation Capital Inc. (“Cation Capital” or “Cation”), a private investment firm and shareholder of Crescent Point Energy Corp. (TSX/NYSE: CPG) (“Crescent Point” or the “Company”), today issued the following statement, following today’s [Read more]
Iron Bridge Board of Directors to Review Unsolicited Tender Offer from Velvet Energy
Shareholders Advised to Take No Action Pending Review of Offer CALGARY, Alberta--(BUSINESS WIRE)--$IBR #IronBridge--Iron Bridge Resources Inc. (“Iron Bridge”, “IBR” or the “Company”) (TSX: IBR) today confirmed that Velvet Energy Ltd. (“Velvet Energy”) has commenced an unsolicited tender offer to acquire all the issued and outstanding common shares of IBR at a price of $0.75 per share in cash (the “Velvet Offer”). The Iron Bridge Board of Directors, in consultation with independent financial [Read more]