CALGARY, ALBERTA--(Marketwired - June 1, 2017) - The Board of Directors of Seven Generations Energy Ltd. (TSX:VII) has approved a CEO transition plan that will see founding Chief Executive Officer Pat Carlson retire on June 30, 2017. Marty Proctor, President & Chief Operating Officer, will become President & Chief Executive Officer on July 1, 2017, which reflects a succession plan that was envisioned when Marty joined 7G in 2014. 7G's Senior Executive Leadership Team will be led by [Read more]
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Cardinal Announces Acquisition of Quality Low Decline Light Oil Assets, $170 Million Financing and Updated 2017 Guidance
CALGARY, ALBERTA--(Marketwired - June 1, 2017) - Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX:CJ) is pleased to announce that it has entered into an agreement (the "Acquisition") to purchase high quality, low decline light oil assets in Western Canada (the "Assets") for cash consideration of $330 million (the "Purchase Price") before closing adjustments. The Assets to be acquired are in the Weyburn/Midale area of southeast Saskatchewan and in the House Mountain area of Alberta. The [Read more]
Trump says U.S. will withdraw from climate accord, renegotiate a deal
WASHINGTON - President Trump says U.S. will withdraw from climate accord, renegotiate a deal This is a breaking news update. Check back later for more. President Donald Trump announced Thursday that the U.S. will withdraw from the Paris global climate pact, according to a White House official, congressional officials and others briefed by the White House. "He's pulling out. It's official," said Stephen Moore, an economist who worked for Trump's campaign and participated in an [Read more]
$3.8 billion Dakota Access oil pipeline begins service
BISMARCK, N.D. - The $3.8 billion Dakota Access pipeline began shipping oil for customers on Thursday, as Native American tribes that opposed the project vowed to continue fighting. Dallas-based Energy Transfer Partners announced that the 1,200-mile line carrying North Dakota oil through South Dakota and Iowa to a distribution point in Illinois had begun commercial service. The Dakota Access pipeline and the Energy Transfer Crude Oil Pipeline from Illinois to the Gulf Coast together make [Read more]
Rising Star Resources Ltd.: Non-Core Property Divestiture – Northwestern Alberta
Sayer Energy Advisors has been engaged to assist Rising Star Resources Ltd. (“Rising Star” or the “Company”) with the sale of its non-core oil and natural gas properties (the “Properties”). The Properties are located in Whitelaw, North Sturgeon, Eaglesham and Fairview areas of northwestern Alberta. At Whitelaw, Rising Star holds a 100% working interest in ten sections of land on which there are seven natural gas wells which produce with a shallow decline. Recent net production from the [Read more]
Delphi Energy Completes Annual Credit Facility Review
CALGARY, Alberta, June 01, 2017 (GLOBE NEWSWIRE) -- Delphi Energy Corp. (“Delphi” or the “Company”) is pleased to announce that it has extended the term of its $80 million senior secured revolving credit facility with a syndicate of banks, led by Alberta Treasury Branches and including the Bank of Nova Scotia, until May 29, 2018. Delphi’s credit facility is expected to be largely undrawn upon closing of the recently announced Financing Transaction. This news release does not constitute an offer [Read more]
Enercore Energy Capital Delivers Fresh International Capital to the Canadian Junior Oil and Gas Market
Enercore Energy Capital Opens New Office in Calgary to Facilitate International Debt and Equity Capital Into the Canadian O&G Market Calgary, Alberta– (June 1, 2017) - Enercore Energy Capital, a boutique capital advisory firm, is pleased to announce the opening of a new office in Calgary, with the mandate of attracting international capital to the presently challenged junior oil and gas market in Canada. Perry M. Anderson, CEO and Managing Partner of Enercore Energy Capital, states [Read more]
Keyera Sanctions Wapiti Natural Gas Gathering & Processing Complex
CALGARY, May 31, 2017 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") today announced the sanctioning of the first phase of its natural gas gathering and processing complex in the Wapiti area south of Grand Prairie, Alberta (the "Project"). The sanctioned portion of the Project is supported by agreements with its primary customer, which include an area dedication and take-or-pay commitments under a long-term gas handling agreement. The first phase of the Project includes a 150 million cubic feet [Read more]
Trilogy Energy Corp. Completes Sale of Certain Duvernay Assets in the Kaybob Area for $60 Million
CALGARY, ALBERTA--(Marketwired - May 31, 2017) - Trilogy Energy Corp. ("Trilogy") (TSX:TET) is pleased to announce that it has completed its previously announced sale of certain Duvernay assets in the Kaybob area of Alberta for cash consideration of $60 Million (before adjustments), with the proceeds to be used to reduce Trilogy's indebtedness under its revolving credit facility. About Trilogy Trilogy is a petroleum and natural gas-focused Canadian energy corporation that actively [Read more]
Whitecap Resources Inc. Announces Closing of Senior Secured Notes and Provides Operational Update
CALGARY, May 31, 2017 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to announce that it has closed an issuance of Cdn$200 million senior secured notes which have an annual coupon rate of 3.54% and mature in 7 years on May 31, 2024. The notes were issued by way of a private placement, pursuant to a note purchase agreement and rank equally with Whitecap's obligations under its bank facilities. Proceeds from the notes will be used to repay a portion of [Read more]