Western Canada’s fleet of drilling rigs have risen again this week 93 actively drilling according to data collected by Baker Hughes for the week of May 26. Drilling activity is normally slow this time of year but has increased the last two weeks, and is still very active in comparison to last year’s count. From one week ago, Alberta rig counts stayed the same at 66 active rigs, Saskatchewan added rigs once more for the third straight week – current count at 12 which is up 8 from last [Read more]
Headlines
Razor Energy Corp. Announces Release of First Quarter 2017 Results and Executive Appointment
CALGARY, ALBERTA--(Marketwired - May 26, 2017) - Razor Energy Corp. ("Razor" or the "Company") (TSX VENTURE:RZE) (www.razor-energy.com) is pleased to announce its first quarter 2017 financial and operating results. Selected financial and operational information is outlined below and should be read in conjunction with Razor's unaudited condensed consolidated interim financial statements and management's discussion and analysis for the quarter ended March 31, 2017 which are available on SEDAR at [Read more]
Penn West Proposes a Name Change to Obsidian Energy
CALGARY, May 26, 2017 /CNW/ - PENN WEST PETROLEUM LTD. (TSX – PWT; NYSE – PWE) ("Penn West", the "Company", "we", "us" or "our") is pleased to propose a name change to Obsidian Energy Ltd. "As we look around today, our Company is very different from just a few short years ago," reflected David French, President and Chief Executive Officer. "Over the past several months, we spoke a lot about concluding the story of our restructuring, which touched everything from our balance sheet, key [Read more]
AIMCo Announces Significant Investment in Ikkuma Resources
EDMONTON, May 25, 2017 /CNW/ - Alberta Investment Management Corporation ("AIMCo"), on behalf of certain of its clients, is pleased to announce that today it has successfully entered into a strategic financing relationship with Ikkuma Resources Corp., ("Ikkuma") (TSE: IKM). Based upon the terms of the agreement, the financing relationship provides for a debt-with-warrants financing consisting of a CAD $45 million second lien senior secured term loan, which bears annual interest at 7.25% and [Read more]
Ikkuma Resources Corp. Announces Closing of Debt Financing and Amendment to Credit Facilities
CALGARY, May 25, 2017 /CNW/ - Ikkuma Resources Corp. ("Ikkuma" or the "Corporation") (TSXV: IKM) announces that it has completed a financing with Alberta Investment Management Corporation ("AIMCo"), on behalf of certain of its clients, providing for a $45.0 million second lien senior secured term loan (the "Second Lien Facility"), which bears annual interest at 7.25% and matures on March 31, 2022. The proceeds from the Second Lien Facility were made available in a single draw and amounts [Read more]
Hemisphere Energy Announces Q1 2017 Financial and Operating Results
TSX-V: HME VANCOUVER, May 25, 2017 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") announces its financial and operating results for the three months ended March 31, 2017. Q1 2017 Highlights Achieved quarterly production average of 583 boe/d (91% oil), a 15% increase over the first quarter of 2016. Increased revenue by 145% to $2.3 million compared to the first quarter of 2016. Increased operating netbacks, which includes gains on commodity [Read more]
Kinder Morgan, Inc. Makes Final Investment Decision on Trans Mountain Expansion Project
Kinder Morgan Canada Limited Prices C$1.75 billion Initial Public Offering HOUSTON--(BUSINESS WIRE)--Kinder Morgan, Inc., (NYSE: KMI), today announced a final investment decision for the Trans Mountain Expansion Project in conjunction with its indirect subsidiary, Kinder Morgan Canada Limited (KML), pricing its initial public offering (the Offering) of 102.9 million shares of common stock at a price to the public of C$17.00 per share for total gross proceeds of C$1.75 billion. The final [Read more]
Relentless announces Financial and Operating results for the three months ended March 31, 2017
CALGARY, ALBERTA--(Marketwired - May 25, 2017) - Relentless Resources Ltd. ("Relentless" or the "Company") (TSX VENTURE:RRL) announces that it has issued and filed on SEDAR its March 31, 2017 unaudited condensed interim financial statements and related management's discussion and analysis ("MD&A"). Additional information about Relentless is available on SEDAR at www.sedar.com or on the Company's website at www.relentless-resources.com. Corporate update Relentless averaged 272 boed (58% oil [Read more]
Trilogy Energy Corp. Announces Agreement to Sell Certain Duvernay Assets in the Kaybob Area for $60 Million and Provides an Update on Its Previously Announced Grande Prairie Area Disposition
CALGARY, ALBERTA--(Marketwired - May 25, 2017) - Trilogy Energy Corp. ("Trilogy" or the "Company") (TSX:TET) is pleased to announce that it has entered into an agreement to sell certain Duvernay assets in the Kaybob area of Alberta and provide an update on its previously announced asset sale in the Grande Prairie area of Alberta. Kaybob Duvernay Asset Sale Trilogy has entered into a definitive agreement to sell approximately 9.75 net sections of Duvernay mineral rights in its Kaybob [Read more]
Acquisition of Point Loma Resources Ltd. Common Shares by Kevin R. Baker Q.C.
CALGARY, ALBERTA--(Marketwired - May 25, 2017) - Pursuant to the early warning requirements of applicable Canadian securities laws, Mr. Kevin R. Baker Q.C. reports that, on May 25, 2017, he acquired 2,341,805 common shares ("Common Shares") in the capital of Point Loma Resources Ltd. ("Point Loma") for $550,000.00 under an arm's length private transaction (the "Transaction"). Prior to the Transaction, Mr. Baker beneficially owned or controlled, directly or indirectly, 3,710,206 Common Shares, [Read more]