(TSX: AAV, NYSE: AAV) CALGARY, March 21, 2018 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage") is commencing an odd-lot share repurchase program (the "Odd Lot Program") pursuant to which it will offer to buy back common shares from registered and beneficial shareholders of Advantage who own 99 or fewer common shares ("Odd Lot Holders"). The Odd Lot Program affords Odd Lot Holders the opportunity to sell all, but not less than all, of their common shares or to continue to maintain their current [Read more]
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Enerplus Announces Upcoming Normal Course Issuer Bid
CALGARY, March 21, 2018 /CNW/ - Enerplus Corporation ("Enerplus" or the "Company") (TSX and NYSE: ERF) announces acceptance by the Toronto Stock Exchange (the "TSX") of a Notice of Intention to Make a Normal Course Issuer Bid (the "Bid"). Pursuant to the Bid, Enerplus proposes to purchase through the facilities of the TSX, the New York Stock Exchange and/or alternative Canadian trading systems, from time to time over the next 12 months, if considered advisable, up to 17,095,598 common shares, [Read more]
Non-Core Property Divestiture: Strategic Oil & Gas Ltd.
Strategic Oil & Gas Ltd. (“Strategic” or the “Company”) has engaged Sayer Energy Advisors to assist with the sale of its non-core properties in the Conrad and Taber areas of southern Alberta and in the Maxhamish area of NE British Columbia. Strategic holds a 100% working interest in a number of Sawtooth oil wells in the Conrad area of southern Alberta. Prior to being shut-in in February 2016, the wells were capable of producing a total of 50-75 barrels of medium gravity (23-24o API) oil [Read more]
InPlay Oil Corp. Announces 2017 Financial and Operating Results and Reserves Including an 11% Increase in Proved Developed Producing Light Oil Reserves
CALGARY, Alberta, March 21, 2018 (GLOBE NEWSWIRE) -- InPlay Oil Corp. (TSX:IPO) (OTCQX:IPOOF) (“InPlay” or the “Company”) announces its financial and operating results for the three and twelve months ended December 31, 2017, and the results of its independent oil and gas reserves evaluation effective December 31, 2017 (the “Sproule Report”) prepared by Sproule Associates Limited (“Sproule”). InPlay’s audited annual financial statements and notes, as well as management’s [Read more]
Could the Columbia Basin Trust serve as a model for seeing Trans Mountain built?
Two sides. Two entrenched positions. No middle ground. Can there ever be a win-win solution? Perhaps we can look to the past for an example of a beneficial solution. In 1964 the Columbia River Treaty was signed by Canada and the United States to develop the Columbia River and its tributaries for hydro electricity. This led to a series of dams on the Canadian side and the Libby Dam on the Kootenay River in Montana. Citizens of British Columbia were not consulted and this led to many years of [Read more]
Accounts Receivable Factoring for Oilfield Service Companies
It’s no surprise to anyone that the oilfield market is fluid and ever-changing. Last year, Canada went from a high of more than 200 active drilling rigs at the beginning of the year, to a low of 24 in early spring. The next big move for Canada’s oilfield market is a large-scale development of its shale resources to help expand its production efforts. With the seasonal demand for Canada’s oilfield services and growing development of shale resources, it is essential for oilfield service [Read more]
Obsidian Energy: FrontFour is Risking the Company’s Progress
CALGARY, March 20, 2018 /CNW/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) ("Obsidian Energy", the "Company", "we", "us" or "our") comments on FrontFour Capital Group LLC's ("FrontFour") intention to nominate four candidates to stand for election at the Company's 2018 Annual General Meeting. Jay Thornton, Chairman of the Obsidian Energy Board of Directors (the "Board"), commented, "We are disappointed that after several months of attempting to work constructively with FrontFour, [Read more]
Eagle Energy Inc. Announces 2017 Annual Results and Reserves Information
CALGARY, March 20, 2018 /CNW/ - (TSX: EGL): Eagle Energy Inc. ("Eagle") is pleased to report its financial and operating results and its reserves information for the year ended December 31, 2017. Reflecting on Eagle's performance in 2017, Wayne Wisniewski, President and Chief Executive Officer, commented, "Eagle closed out 2017 with strong reserve metrics, production and monthly operating costs within its guidance range and capital expenditures as planned, resulting in an increase to funds [Read more]
Cardinal Energy Ltd. Announces Reserves and Fourth Quarter and 2017 Year-End Results
CALGARY, Alberta, March 20, 2018 (GLOBE NEWSWIRE) -- Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX:CJ) is pleased to announce its operating and financial results for the quarter and year ended December 31, 2017 as well as its 2017 year end reserves. 2017 Financial Highlights Achieved an all in total payout ratio of 98% in Q4 2017 despite accelerating planned Q1 2018 development activity into 2017. Fourth quarter 2017 operating costs per boe decreased 12% to average $20.34 [Read more]
Alberta banks on expanded Trans Mountain pipeline in budget forecasts
EDMONTON - Finance Minister Joe Ceci says Alberta is banking on anticipated revenue from an expansion of the Trans Mountain oil pipeline to balance the budget within five years. Ceci says revenue from the yet-to-be built expansion, along with expected revenue from a replacement Enbridge pipeline to Wisconsin, will be factored into forecasts in the budget he is to table on Thursday. He says it makes financial sense to include the pipelines now —given the expectation they will get [Read more]