CALGARY, AB--(Marketwired - May 23, 2017) - Point Loma Resources Ltd. (TSX VENTURE: PLX) (the "Corporation" or "Point Loma") is pleased to announce the closing of the previously announced disposition ("Disposition") and joint venture ("JV") with Transerv Energy Ltd. (ASX: TSV) via its Canadian subsidiary Salt Bush Energy Ltd. ("Salt Bush"). Highlights of the transaction are summarized below: Point Loma Salt Bush Joint Venture The Disposition consists of Point Loma selling and assigning a [Read more]
Headlines
How one company financed growth in today’s oil patch without debt or equity
For Travis Anderson at All West Crane and Rigging, a BC based company that rents cranes to clients in a wide variety of industries including oil and gas, the timing was right. “The turning point really was when we won some large projects,” he says. “We needed the start up capital which we could only do by factoring our receivables. And being a new growing company, we didn’t have the equity to go to the bank and ask for the funds.” It takes creativity to address the many challenges faced in a [Read more]
Crew Energy Announces Closing of Disposition and Receives TSX Approval for Normal Course Issuer Bid
CALGARY, ALBERTA--(Marketwired - May 23, 2017) - Crew Energy Inc. (TSX:CR) ("Crew" or the "Company") is pleased to announce that it has closed its previously announced disposition of non-core undeveloped land with no associated production or assigned reserves in the Goose area of northeast British Columbia. Consideration for the Goose disposition totaled approximately $49 million in cash, before closing adjustments, and provides Crew with an additional source of funding to continue our [Read more]
Painted Pony announces trading symbol change and participation in the Cormark Securities Annual Spring Montney E&P Conference
CALGARY, May 23, 2017 /CNW/ - Painted Pony Energy Ltd. ("Painted Pony" or the "Corporation") (TSX: PONY) is pleased to announce the trading symbol for its common shares on the Toronto Stock Exchange has changed from "PPY" to "PONY" effective immediately. Conference Participation Painted Pony will be participating in the Cormark Securities Annual Spring Montney E&P Conference taking place at the Trump International Hotel and Tower in Toronto, Ontario on Wednesday, May 24, 2017. The [Read more]
Trans Mountain IPO comes at awkward time for energy giant Kinder Morgan
CALGARY - Kinder Morgan's plan to raise money for its Trans Mountain expansion through an initial public offering could not come at a more awkward time. In addition to ongoing protests and federal court challenges, a vote recount in B.C. could tilt the balance of power, giving the Greens or NDP a chance to bog down the $7.4-billion project. The recount begins Monday. Alberta's securities regulator is also reviewing Kinder Morgan's regulatory filings upon a request from [Read more]
Total Energy Services Inc. and Savanna Energy Services Corp. Announce Proposed Amalgamation of Savanna and 2043324 Alberta Ltd.
CALGARY, ALBERTA--(Marketwired - May 19, 2017) - Savanna Energy Services Corp. ("Savanna") (TSX:SVY) and Total Energy Services Inc. ("Total Energy") (TSX:TOT) announced today that they have entered into an amalgamation agreement (the "Amalgamation Agreement") with 2043324 Alberta Ltd. ("2043324"), a wholly-owned subsidiary of Total Energy, under which Savanna will amalgamate with 2043324, with the amalgamated entity ("Amalco") becoming an wholly-owned subsidiary of Total Energy (the [Read more]
Trudeau says he’ll work with provinces on Trans Mountain pipeline expansion
SURREY, B.C. - Prime Minister Justin Trudeau says he'll work with British Columbia and Alberta to move ahead with his government's agenda of creating jobs while transitioning toward a lower-carbon economy. Trudeau was asked on Friday about the possibility that B.C. could wind up with a government that opposes the Trans Mountain pipeline expansion. He suggested that the province's NDP and Greens, who oppose the project, are "wrong" in their position. "Canadians understand that we [Read more]
Alberta aims to speed up orphan well cleanup with $235M loan
Alberta’s NDP government is trying to speed up the cleanup of old, orphan oil and gas wells with a $235-million loan. The province announced legislation Thursday that will allow it to lend the money to the Orphan Well Association. The industry-funded, not-for-profit group manages the shutting and cleanup of oil and gas sites where there is no longer anyone legally responsible for those tasks, often because a company has gone out of business. “The number of orphaned wells in Alberta is a [Read more]
Canada Weekly Rig Count Up 5 to 85
Western Canada’s fleet of drilling rigs are slowing down on account of seasonality in the drilling business with only 85 actively drilling according to data collected by Baker Hughes for the week of May 19. Drilling activity is starting to slow down, but still very active in comparison to last year’s count. Will will see a continued drop in activity due to the upcoming spring breakup. Rigs activity will stay low likely until June, when activity will start to pick up again. From one week [Read more]
Canbriam Energy Reports Emergency Incident at Altares b-24-H Natural Gas Processing Facility
CALGARY, May 18, 2017 /CNW/ - Canbriam Energy ("Canbriam") is investigating the cause of an isolated fire that started at approximately 12:30 am MT within its Altares b-24-H natural gas processing facility. The facility is located approximately 50 kilometers north of Hudson's Hope, British Columbia and 120 kilometers west of Fort St John, British Columbia. The b-24-H facility was immediately shut down and the site was evacuated as part of the Emergency Response Plan protocol. There were no [Read more]