Canadian oil and gas producer Cenovus Energy Inc has hired investment banks to sell the Weyburn and Palliser oil assets, which it hopes would fetch as much as C$2.5 billion ($2 billion), according to people familiar with the situation. The moves are part of a push to sell assets to pay down debt Cenovus took to help fund the C$16.8 billion purchase of oil and gas businesses from ConocoPhillips. Cenovus is working with Toronto-Dominion Bank to sell Weyburn, and with Credit Suisse and [Read more]
Headlines
Northern Blizzard Resources Inc. Announces Name Change to Cona Resources Ltd.
CALGARY, July 12, 2017 /CNW/ - Northern Blizzard Resources Inc. (the "Company") (TSX: NBZ) is pleased to announce that it has changed its name to Cona Resources Ltd. effective immediately, following approval of the name change at the special meeting of the Company's shareholders held today. In connection with the name change, the Company's stock symbol on the Toronto Stock Exchange will be changed to "CONA". The Company's common shares are expected to start trading under the new stock symbol [Read more]
Pembina and Veresen Announce Court of Queen’s Bench Approval of Business Combination
CALGARY, July 12, 2017 /CNW/ - Pembina Pipeline Corporation (TSX:PPL; NYSE: PBA) ("Pembina") and Veresen Inc. (TSX: VSN) ("Veresen") are pleased to announce that following the approval of Veresen's Common and Preferred Shareholders announced on July 11, the Court of Queen's Bench of Alberta has approved the previously announced plan of arrangement between Pembina and Veresen (the "Transaction") to create one of the largest energy infrastructure companies in Canada. Closing of the Transaction [Read more]
Groundstar Resources Limited Signs LOI to Acquire Oil and Gas Assets and Complete Reverse Take-Over
CALGARY, Alberta, July 12, 2017 (GLOBE NEWSWIRE) -- Groundstar Resources Limited (TSX-V:GSA) (“Groundstar” or the “Company”) is pleased to announce that it has signed a letter of intent (the “LOI”) to acquire certain oil and gas assets located in Rainbow Lake and Farrell, Alberta (the “Assets”) from a private Alberta company (“PrivateCo”). The proposed transaction is an arm’s length transaction and constitutes a “reverse take-over” of Groundstar under Policy 5.2 – Changes of Business and Reverse [Read more]
Pipelines secured as wildfires rage in western Canada
Major pipeline companies in western Canada have created fire breaks, installed sprinklers and taken other measures to protect operations as raging wildfires spread to more than 38,000 hectares (93,000 acres) in British Columbia. Enbridge Inc has taken a natural gas compressor station offline but it said on Wednesday that there had been no significant reduction in volumes shipped. The fires have disrupted timber and mining operations, damaged a regional electric utility and forced more than [Read more]
Enbridge gas compressor offline after western Canada wildfires
Enbridge inc has taken a natural gas compressor station offline after wildfires in the western Canadian province of British Columbia, but there had been no "significant reduction" in volumes shipped, the company said on Wednesday. Enbridge did not specify which pipeline system the station was on, saying only that it was in the "impacted area," a region ranging from 150 km (95 miles) to 350 km northeast of Vancouver where more than 200 fires had been burning. (Reporting by Ethan [Read more]
Receivership Sale: Anterra Energy Inc.
Sayer Energy Advisors and PricewaterhouseCoopers Corporate Finance Inc. have been engaged to jointly assist PricewaterhouseCoopers Inc. (“PwC”), in its capacity as court-appointed receiver and manager (the “Receiver”) of the assets of Anterra Energy Inc. (“Anterra” or the “Company”) with the sale of the oil and natural gas properties held by the Company (the “Properties”). Total gross production from the Properties has recently averaged approximately 375 boe/d (332 barrels of oil and natural [Read more]
Construct low-cost, low-maintenance, access roads and drilling pads over soft soils with the GEOWEB® 3D soil stabilization system
The 3D cellular confinement technology was developed by Presto Products Company and the U.S. Army Corp of Engineers in the late 1970’s. The goal was to create a means for building roadways over poor subgrades using sand. Ultrasonically-welded strips of High-Density Polyethylene (HDPE) form the three-dimensional GEOWEB® System-—giving cohesion and additional strength to non-cohesive soils, through confinement. This translates well for the Canadian Oil Sands where soft subgrades and limited access [Read more]
Canada Pension Plan Investment Board and Vermilion Energy Inc. Announce Strategic Partnership in Corrib
TORONTO and CALGARY, July 12, 2017 /CNW/ - Canada Pension Plan Investment Board ("CPPIB") and Vermilion Energy Inc. ("Vermilion") (TSX, NYSE: VET) are pleased to announce a strategic partnership in the Corrib Natural Gas Field in Ireland ("Corrib"), whereby CPPIB will acquire Shell Exploration Company B.V.'s ("Shell") 45% interest in the project, with Vermilion operating the assets after completion of the acquisition. Through its wholly owned subsidiary, CPP Investment Board Europe S.a.r.l., [Read more]
New Oil and Gas Jobs From BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Jul. 10 Senior Accounting Analyst TransCanada Calgary Jul. 10 Alarm Management Specialist - Liquids Pipelines Control Center TransCanada Calgary Jul. 10 Electrical Engineering Internship [Read more]