CALGARY, ALBERTA--(Marketwired - June 1, 2016) - Husky Energy (TSX:HSE) is positioned to increase free cash flow as a result of the structural changes that have taken root across the business while significantly lowering its cost base. "Husky has been transformed over the past six years," said CEO Asim Ghosh. "We now have an oil price earnings break-even that is amongst the lowest in the oil industry and have significantly reduced our sustaining and maintenance capital requirements. "In [Read more]
Headlines
Calls grow to pay out oil profits before eventual decline of industry
CALGARY - A rising chorus of voices is calling for the oil industry to reduce spending on growth and begin rewarding shareholders through things like higher dividends and share buybacks.Investment researchers, think-tanks and newspaper editorials have recently begun advocating that big petroleum companies return as much capital to shareholders as possible as the transition away from fossil fuels gathers momentum and profits fade."Demand forecasts are way too positive," says Paul Sankey, managing [Read more]
Saskatchewan budget to show deficit due to falling oil, gas, potash revenue
REGINA - Saskatchewan Premier Brad Wall has joked that deficits are like potato chips — not good for your long-term health and bet you can't stop at just one.But Wall wasn't joking Wednesday after his government tabled a budget with a projected $434-million deficit."I don't like it at all. My analogy doesn't work. It's not like potato chips at all. I'd love to be able to stop at just one," said Wall."I do think it's manageable, especially when you consider what's going on in some other [Read more]
Raging River Exploration Inc. Announces Corporate Acquisition of Rock Energy Inc.
CALGARY, ALBERTA--(Marketwired - May 31, 2016) - Raging River Exploration Inc. ("Raging River" or the "Company") (TSX:RRX) and Rock Energy Inc. ("Rock") (TSX:RE) are pleased to announce that they have entered into an agreement (the "Arrangement Agreement") providing for the acquisition by Raging River of all the issued and outstanding Rock common shares (the "Rock Shares") pursuant to a plan of arrangement under the Business Corporations Act (Alberta) (the "Acquisition"). THE [Read more]
Twin Butte Announces Extension of Credit Facilities
CALGARY, May 31, 2016 /CNW/ - (TSX: TBE) – Twin Butte Energy Ltd. ("Twin Butte" or the "Company") announces that its bank syndicate has agreed to extend the maturity date of Twin Butte's $85 million non-revolving credit facility from May 31, 2016 to June 1, 2016 and the expiry of the revolving period of Twin Butte's $140 million revolving credit facility from May 31, 2016 to June 1, 2016 to enable the Company to continue with its strategic alternatives process. As announced on December 9, [Read more]
Kelt Exploration Announces Amendments to Its Credit Facility
CALGARY, AB--(Marketwired - May 31, 2016) - Kelt Exploration Ltd. ("Kelt" or the "Company") (TSX: KEL) has completed its semi-annual borrowing base review with its syndicated group of lenders. The Company has agreed to certain amendments to its existing credit facility and the borrowing base has been re-determined at $185.0 million. All of the lenders, other than a single lender representing $10.0 million of the total commitment amount of $185.0 million (the "Term Lender"), have agreed to [Read more]
Eagle Energy Inc. Appointed as Operator of Dixonville Properties and Announces Credit Agreement Amendments
CALGARY, ALBERTA--(Marketwired - May 31, 2016) - Eagle Energy Inc. ("Eagle") (TSX:EGL) announced today that, effective June 1, 2016, it will assume operatorship of the Dixonville properties in which Eagle has a 50% working interest. Eagle also announced today that it has finalized its semi-annual borrowing base redetermination and amendments to its credit agreement (the "Credit Agreement") held with a syndicate of Canadian banks. A summary of the significant amendments to the Credit Agreement [Read more]
Bonterra Energy Corp. Announces Update to Borrowing Base
CALGARY, ALBERTA--(Marketwired - May 31, 2016) - Bonterra Energy Corp. (TSX:BNE) ("Bonterra" or the "Company") today announces that following a semi-annual review of its credit facilities and in light of current market conditions, its borrowing base has been adjusted by approximately 10% from $425 million to $380 million, comprised of a $330 million syndicated revolving credit facility, and a $50 million non-syndicated revolving credit facility. The revolving period on the facilities expires on [Read more]
Marquee Energy Ltd. Announces the Closing of the Sale of Non-Core Shallow Gas Asset
CALGARY, AB--(Marketwired - May 31, 2016) - Marquee Energy Ltd. ("Marquee" or the "Company") (TSX VENTURE: MQL) is pleased to announce that it has completed the previously announced disposition of its non-core, shallow gas asset for total cash consideration of $5.57 million, net of initial closing adjustments (the "Transaction"). The asset includes approximately 500 gross / 396 net wells, average production of approximately 5,700 mcf/d in Q1 2016, and low pressure gas gathering and processing [Read more]
Marksmen Announces Final Closing of Private Placement
CALGARY, ALBERTA--(Marketwired - May 31, 2016) - Marksmen Energy Inc. (TSX VENTURE:MAH)(OTCQB:MKSEF) ("Marksmen" or the "Company") is pleased to announce that it has completed the third and final closing of its previously announced non-brokered private placement for 1,060,000 common shares (the "Common Shares") of Marksmen at a price of $0.05 per share for aggregate gross proceeds of $53,000 (the "Private Placement"), bringing the total raised to date to $680,364. Marksmen did not pay any [Read more]