CALGARY, ALBERTA--(Marketwired - Sept. 21, 2017) - Harvest Operations Corp. ("Harvest" or the "Company") is pleased to announce that it has closed its offering of U.S.$ 285 million senior unsecured notes due 2022 with a coupon rate of 3% (the "Notes"). Harvest intends to use the net proceeds of the offering to repay in full Harvest's outstanding approximately U.S.$282,500,000 aggregate principal amount of 67/8% Senior Notes due October 1, 2017. Approval in-principle has been received from [Read more]
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Heritage Royalty: Palliser Q3 2017 Prospects
Heritage Resource Limited Partnership referred to as “Heritage” is marketing fee simple mineral rights for Farmout/Lease with respect to a Mannville prospect on the Palliser Block. The prospect areas identify horizontal development opportunities in the Mannville Group by using subsurface analog data. Highlights Tide Lake North T18/19 R11/12 W4M 35.5 contiguous sections of available PNG in Mannville* Partial 3D/Full 2D Seismic coverage available for review. *Details found at [Read more]
Hemisphere Energy Commences Development Program and Grants Incentive Stock Options
TSX-V: HME - VANCOUVER, Sept. 21, 2017 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") is pleased to announce that it has initiated its fall development program and has granted incentive stock options. Development Program Hemisphere has commenced its previously announced drilling program consisting of seven wells in the Atlee Buffalo area of southeast Alberta (news release dated September 15, 2017). Of these seven horizontal development wells, drilling [Read more]
Chinook Energy Inc. Provides Birley/Umbach Operational Update
CALGARY, ALBERTA--(Marketwired - Sept. 20, 2017) - Chinook Energy Inc. (TSX:CKE) ("Chinook") is pleased to provide the following operational update on its Birley/Umbach property. During the second quarter of 2017, Chinook successfully completed a four well (3.63 net) (the a-81-F, b-90-G, 02/d-5-K, and b-14-K wells) drilling program at Birley/Umbach with average drilling costs of approximately $1.55 million per well ($1.38 million, net). The wells were subsequently completed during the third [Read more]
Energy contract lawsuits expected to jump in Harvey’s wake
HOUSTON (Reuters) - Lawyers expect a spate of force majeure contract lawsuits after Hurricane Harvey tore through Southeast Texas and parts of Louisiana last month, paralyzing a fifth of U.S. fuel output and pushing some oil production offline. Hurricanes and other natural disasters can affect the energy industry’s ability to honor contracts related to oil and natural gas production, transport and oilfield services. Force majeure is a legal declaration that means the operator cannot fulfill a [Read more]
Keyera Closes $400 Million Private Placement Debt Financing
CALGARY, Sept. 20, 2017 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") announced today that it has closed its previously announced CAD$400 million private placement of 10-year senior unsecured notes (the "Notes") with a group of institutional investors in Canada and the United States. The Notes will bear interest at 3.68% and mature on September 20, 2027. Proceeds from the Notes will be used to repay short-term debt incurred to execute Keyera's capital program and for general corporate [Read more]
Quebec Government publishes draft hydrocarbon regulations
CALGARY, ALBERTA--(Marketwired - Sept. 20, 2017) - Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) reported today that the Ministry of Energy and Natural Resources in Quebec has published the proposed regulations to govern oil and gas activities in the province. A copy of the draft regulations can be found online at: http://www2.publicationsduquebec.gouv.qc.ca/dynamicSearch/telecharge.php?type=13&file=1738-A.PDF. Michael Binnion, President and Chief Executive [Read more]
US shale oil reaching 10 million barrels per day is fiction
Any financial advisor worth their salt will caution you that past performance is not a guarantee of the same in the future. And so it is with US shale oil. Recent EIA estimates claim potential production of up to 10 million barrels per day (BPD). That projection is pure fiction and in this article I will explain why. Right off the bat, assuming annual declines of 2.0 Million BPD, wells having a 365-day average annual rate of 400 BPD requiring 5,000 wells and utilizing 330 rigs (with each well [Read more]
Manitok Energy Inc. Acquires Corinthian Oil Corp.
CALGARY, Sept. 20, 2017 /CNW/ - Manitok Energy Inc. ("Manitok") (TSX-V: MEI) is pleased to announce that it has completed its previously announced three-cornered amalgamation pursuant to an amalgamation agreement (the "Amalgamation Agreement") dated effective September 12, 2017 among the Corporation, Corinthian Oil Corp. ("Corinthian") and 2065718 Alberta Inc. ("Acquireco"), a wholly owned subsidiary of Manitok (the "Transaction"). Pursuant to the Transaction, Manitok has acquired, through [Read more]
Ikkuma Announces Executive Changes
CALGARY, Sept. 19, 2017 /CNW/ - Ikkuma Resources Corp. ("Ikkuma" or the "Corporation") (TSX VENTURE: IKM) announces the following Executive Team changes effective as of today: Dorothy Else retired as Executive Vice President of the Corporation. Ms. Else also joined the Board of Directors of the Corporation (the "Board"). We thank Ms. Else for her contribution to the Corporation as an employee and congratulate her on her new position as a member of our Board. Carrie Yuill has stepped [Read more]