CALGARY, ALBERTA--(Marketwired - July 6, 2017) - Raise Production Inc. (TSX VENTURE:RPC) ("Raise" or the "Company") is pleased to provide an update to its shareholders on recent activities related to the Horizontal Wellbore Production System (the "System") and High Angle Lift Solution ("HALS"). Horizontal Wellbore Production System After five months of successful testing without any issues to either downhole or surface equipment, the Company will be retrieving the System from the test [Read more]
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Paramount Resources Ltd. to Acquire Apache Canada Ltd. for $459.5 Million; Paramount and Trilogy Energy Corp. Agree to Merge
CALGARY, July 6, 2017 /CNW/ - Paramount Resources Ltd. (TSX: POU) ("Paramount" or the "Company") is pleased to announce that it has entered into an agreement with certain subsidiaries of Apache Corporation to acquire Apache Canada Ltd. ("Apache Canada") for $459.5 million, plus working capital and other monetary adjustments (the "Apache Canada Acquisition"). Paramount plans to fund the Apache Canada Acquisition with cash on hand and no debt will be assumed. Paramount has also entered into [Read more]
Pengrowth Announces Closing of Swan Hills Asset Sale
CALGARY, ALBERTA--(Marketwired - July 6, 2017) - Pengrowth Energy Corporation (TSX:PGF)(NYSE:PGH) announces that it has closed its previously announced sale of a portion of its Swan Hills assets in North Central Alberta for total cash consideration of $185 million, before closing adjustments. The Company continues to work on finalizing the previously announced sale of the remainder of its Swan Hills assets. The proceeds from this sale will be used to further strengthen the Company's balance [Read more]
Alberta Energy Regulator lays charges against Nexen Energy for 2015 pipeline spill
CALGARY - The Alberta Energy Regulator has laid five charges against Nexen Energy for a pipeline spill two years ago that was one of the largest in provincial history. About five million litres of emulsion — estimated to be roughly a third bitumen and two-thirds water and sand — leaked into muskeg near the company's Long Lake oilsands facility southeast of Fort McMurray. The charges include releasing a substance that may have caused an adverse effect and disturbance to public [Read more]
Enbridge Announces Pricing of Offer by Spectra Energy Capital, LLC to Purchase Notes Due in 2019
CALGARY, ALBERTA--(Marketwired - July 6, 2017) - Enbridge Inc. (TSX:ENB)(NYSE:ENB) (Enbridge or the Company) announced today the consideration to be paid in the previously announced cash tender offer (the Offer) by its wholly-owned subsidiary, Spectra Energy Capital, LLC (Spectra Capital) for any and all of Spectra Capital's outstanding 8.00% senior unsecured notes due 2019 (the Notes). The Offer will expire at 5:00 p.m. New York City time, today, July 6, 2017, unless extended. The applicable [Read more]
JPMorgan tops Canadian M&A activity in energy-driven first half
Canadian mergers and acquisitions rose about 13 percent to C$120.5 billion ($93.2 billion) in the first half of 2017, driven by big-ticket energy deals and robust cross-border activity, according to Thomson Reuters data released on Thursday. Despite strong initial public offerings, overall equity capital deals fell 12 percent to C$26.9 billion in the first half from a year ago, the data showed. JPMorgan , Toronto-Dominion Bank and Goldman Sachs took the top three spots in the M&A [Read more]
Oil rises on US crude stock draw, but prices remain weak
Oil prices recovered some ground on Thursday on strong demand in the United States, but analysts cautioned that oversupply would continue to drag on markets after a steep fall in the previous session. Brent crude futures were trading up 34 cents, or 0.7 percent, at $48.13 per barrel by 0513 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 32 cents, or 0.7 percent, at $45.45 per barrel. The gains reflected firm fuel demand in the United States, where data from the American [Read more]
Georox Resources Announces Extension of Closing of Private Placement
KELOWNA, BC, July 5, 2017 /CNW/ - Georox Resources Inc. ("Georox" or the "Corporation") (GXR: TSX-V; OF6A:FRA) announces that the TSX Venture Exchange has approved an extension of the deadline to complete the previously announced private placement of 6,428,571 units at a price of $0.07 per unit for gross cash proceeds of approximately $450,000 to August 4, 2017. About Georox: Georox is a public oil and gas exploration, exploitation and development company focusing on conventional oil and [Read more]
PNG Exchange New Properties & Equipment
PNG Exchange New Properties Elcano Exploration Inc. – Ceylon Freehold Royalties Ltd. – Freehold 99 Year Lease Lands, Unleased SK Lands: Tilston, Torquay, Three Forks, Ratcliffe, Mississippian, Lodgepole, Frobisher, Alida, Bakken, Glauconite, Mannville, Shaunavon, Viking, Midale Revive Freehold – Frys, SK TORC Oil & Gas Ltd. – Rosevear, Kaybob Canadian Natural Resources Limited – Carnduff For property details or to list your property visit pngexchange.com PNG Exchange [Read more]
Canada’s new pipeline parts rules to lessen burden on operators
Canada's energy regulator should shift the burden for ensuring quality of oil-and-gas pipeline parts more to manufacturers and away from operators, according to an official report viewed by Reuters. The National Energy Board (NEB) commissioned the report to improve the equality of pipeline parts after TransCanada Corp and Enbridge Inc discovered that some they were using had been substandard. Currently, operators often have to provide additional specifications for parts because standards [Read more]