With an evolving regulatory environment, political sparring and dwindling international interest, Canada’s oil and gas industry has experienced a dramatic change in M&A activity. Bennett Jones LLP will provide an overview of market trends and recap recent case law and regulatory developments that have impacted M&A activity at 24th Annual GPAC/PJVA Joint Conference on Tuesday, October 30th at the Calgary Petroleum Club. Join us to increase your breadth and depth of transaction knowledge [Read more]
Headlines
Shell Gives Green Light to Invest in LNG Canada
THE HAGUE, Netherlands, Oct. 2, 2018 /PRNewswire/ -- Shell Canada Energy, an affiliate of Royal Dutch Shell plc ("Shell") (NYSE: RDS.A) (NYSE: RDS.B), today announced it has taken a final investment decision (FID) on LNG Canada, a major liquified natural gas (LNG) project in Kitimat, British Columbia, Canada, in which Shell has a 40% working interest. With LNG Canada's joint venture participants also having taken FID, construction will start immediately with first LNG expected before the middle [Read more]
PETRONAS and joint venture participants reach final investment decision in LNG Canada Project
KUALA LUMPUR, Malaysia, Oct. 2, 2018 /CNW/ - PETRONAS is pleased to announce that, together with its joint venture participants, it has taken a final investment decision (FID) on LNG Canada, a major liquefied natural gas (LNG) project in Kitimat, British Columbia, Canada. PETRONAS, through its wholly-owned entity, the North Montney LNG Limited Partnership (NMLLP), holds a 25% participating interest in the project, with joint venture participants Royal Dutch Shell plc, through its [Read more]
U.S. East Coast refiners cash in by the trainload on Canadian oil
U.S. East Coast oil refiners are ramping up rail deliveries of crude from Western Canada, grabbing stranded barrels that full pipelines have driven to a record discount. That trend is expected to accelerate, as prices will remain weak, with no new Canadian export pipelines expected until late 2019. Rail volumes from Canada to East Coast refineries averaged 35,000 barrels a day for the 12 months ending in July, up from 16,000 bpd for the prior 12-month period. Canada is having difficulty [Read more]
Blackbird Energy Inc. Closes Upsized CEE Flow-Through Equity Financing for Gross Proceeds of $6.4 Million
CALGARY, Alberta, Oct. 01, 2018 (GLOBE NEWSWIRE) -- (TSX-V: BBI) Blackbird Energy Inc. (“Blackbird” or the “Company”) is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement by issuing 16.0 million common shares ("Shares") on a "flow-through" basis in respect of Canadian Exploration Expenses ("CEE") at a price of $0.40 per Share, resulting in gross proceeds of $6.4 million (the "CEE Private Placement"). Proceeds from the CEE Private [Read more]
Average 2018 U.S. crude price forecast at $68.81/bbl – Dallas Fed
(Reuters) - The average price of U.S. benchmark West Texas Intermediate (WTI) crude futures should be $68.81 a barrel by the end of the year according to results of a survey released by the Federal Reserve Bank of Dallas on Monday. Responses ranged between $55 and $85 per barrel, according to the results of a poll of oil and gas executives, with WTI spot prices averaging $69.79 during the survey period, which was conducted from Sept. 12-20. On Monday, WTI was trading around $74.75 per [Read more]
Enbridge and Brookfield Infrastructure Announce Closing of the Provincially Regulated Portion of the Previously Announced Natural Gas Gathering & Processing Transaction
CALGARY, Oct. 1, 2018 /PRNewswire/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) ("Enbridge") and Brookfield Infrastructure (NYSE: BIP) (TSX: BIP.UN) and its institutional partners (collectively, "Brookfield"), today announced the closing of the provincially regulated portion of the agreement through which Enbridge will sell its Canadian natural gas gathering and processing business in the Montney, Peace River Arch, Horn River and Liard basins in British Columbia and Alberta ("G&P Business") to [Read more]
This is a Working Title for Future Brad Wall Column
Canoe Financial is the proud presenting partner for Brad Wall's monthly BOEReport.com column Oil edged higher on Thursday, driven by the prospect of a shortfall in global supply once U.S. sanctions against major crude exporter Iran come into force in five weeks. U.S. President Donald Trump this week demanded that the Organization of the Petroleum Exporting Countries raise production to prevent further price rises ahead of midterm elections in November for U.S. Congress members. “The [Read more]
Pengrowth Appoints Chandra Henry to the Board of Directors
CALGARY, Alberta, Oct. 01, 2018 (GLOBE NEWSWIRE) -- Pengrowth Energy Corporation (“Pengrowth”) (TSX:PGF, OTCQX:PGHEF), today announced the appointment of Chandra Henry CPA, CA, CFA to the Board of Directors with immediate effect. “On behalf of the Board of Directors, I would like to extend to Chandra a warm welcome to Pengrowth’s Board,” said Kel Johnston, Chairman of Pengrowth’s Board of Directors. “Chandra’s extensive experience and knowledge in accounting, finance and the capital markets [Read more]
Shares in MEG Energy soar after Husky Energy makes hostile takeover offer
CALGARY - Shares in MEG Energy Corp. soared in early trading following a hostile takeover offer announced Sunday by Husky Energy Inc. MEG shares were up $2.94 or about 37 per cent at $10.97 in early trading on the Toronto Stock Exchange after going as high as $11.70. Husky shares were down $1.63 or about seven per cent at $21.05. The hostile offer is a combination of cash or shares worth $11 for each MEG share. The maximum cash available under the deal is capped at $1 billion and the [Read more]