CALGARY, ALBERTA--(Marketwired - April 13, 2017) - Veresen Inc. ("Veresen") (TSX:VSN) is pleased to announce it has closed the previously announced sale of the gas-fired power assets. The company continues to expect the sale of its remaining power assets to be completed during the second quarter of 2017. Each of the agreements is subject to closing adjustments and conditions customary in transactions of this nature, including the receipt of all necessary approvals. The company expects to [Read more]
Headlines
Canada Weekly Rig Count Down 14 to 118
Western Canada’s fleet of drilling rigs are slowing down on account of seasonality in the drilling business with only 118 actively drilling according to data collected by Baker Hughes for the week of April 13. 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 [Read more]
Chevron said to be considering sale of stake in Shell oilsands mining project
CALGARY - California-based Chevron Corp. is looking at selling its 20 per cent stake in the Athabasca Oil Sands Project in northern Alberta, according to a media report. The company has discussed with investment banks the idea of selling its stake in the oilsands mine and upgrading project, Reuters reported Thursday, citing anonymous sources. Chevron said in an email that it had no comment on the report. A spokesman for project operator Royal Dutch Shell said it wouldn't comment [Read more]
Saguaro Resources Obtains Financing to Accelerate its Liquids-Rich Montney Development
CALGARY, April 13, 2017 /CNW/ - Saguaro Resources Ltd. ("Saguaro" or the "Company") announced that it has closed the placement of $50 million of secured notes, and recently expanded its syndicated revolving credit facility from $65 million to $105 million. Saguaro is now fully funded to execute its accelerated development program. "Saguaro has the potential to be one of the great value driven stories in the Montney" said Stacy Knull President & CEO. "Our Company has a proven track record, [Read more]
Heritage Resource Limited Partnership’s Palliser Q2 2017 Prospects
Palliser Q2 2017 Prospects Heritage Resource Limited Partnership referred to as “Heritage” is marketing fee simple mineral rights for Farmout/Lease with respect to three Mannville prospect areas on the Palliser Block. The prospect areas identify horizontal development opportunities in the Mannville Group by using subsurface analog data. Highlights Palliser South – Tide Lake T17/18 R11/12 W4M Up to 42 Sections Available PNG in Mannville* Partial 3D Seismic coverage available [Read more]
Oil demand growth seen slowing for a second year
PARIS - The International Energy Agency expects growth in the global demand for crude oil to slow for a second consecutive year in 2017. The Paris-based agency expects growth of 1.3 million barrels a day this year, compared with 1.4 million barrels previously forecast, due to stalled demand in the U.S., Middle East, Russia and India. In its monthly report released Thursday, the IEA, a body that advises major oil-consuming nations, says production will grow this year, even when [Read more]
Pine Cliff Energy Ltd. Announces Borrowing Base Redetermination
CALGARY, ALBERTA--(Marketwired - April 12, 2017) - Pine Cliff Energy Ltd. ("Pine Cliff" or the "Company") (TSX:PNE) is pleased to announce that it has completed its semi-annual borrowing base redetermination and has renewed its credit facilities with its banking syndicate of Canadian financial institutions (the "Syndicate"). The Company has entered into an amending agreement with the Syndicate for a $45 million revolving credit facility, consisting of a $35 million revolving credit facility [Read more]
Point Loma Resources Files Amended Material Change Report
CALGARY, AB--(Marketwired - April 12, 2017) - Point Loma Resources Ltd. (TSX VENTURE: PLX) (the "Corporation" or "Point Loma") announces that it has filed an amended material change report (the "Amended MCR") amending the material change report dated July 7, 2016 (the "Original MCR"). In addition to the disclosure included in the Original MCR, the Amended MCR: (i) incorporates by reference the filing statement of the Corporation dated June 24, 2016; (ii) includes two years of audited operating [Read more]
National Energy Board expands safety advisory on pipeline materials
CALGARY - The National Energy Board is expanding a safety advisory and draft order on unreliable pipeline fittings after learning of more suppliers with quality issues. The draft order requires companies to verify whether they have any components not meeting specifications, and to file a timeline and plan to address any issues within 60 days. The regulator says it also plans to hold a technical workshop in June on quality assurance for the pipeline components as the number of [Read more]
Inter Pipeline Announces $500 Million Medium-Term Note Offering
CALGARY, ALBERTA--(Marketwired - April 12, 2017) - Inter Pipeline Ltd. ("Inter Pipeline") (TSX:IPL) announced today that it has agreed to issue $500 million of senior unsecured medium-term notes in the Canadian public debt market. The notes will have a fixed interest rate of 2.734% per annum, payable semi-annually, and will mature on April 18, 2024. The offering is expected to close on April 18, 2017. Inter Pipeline will use the net proceeds of the offering to repay indebtedness under its [Read more]