By The Associated Press Oil is moving between small gains and losses ahead of a meeting of the Federal Reserve. Benchmark West Texas Intermediate crude was up nine cents at US$85.65 a barrel near midday Tuesday in New York after having fallen for five straight sessions. The Fed holds a two-day policy meeting and is expected to unveil a new bond-buying program designed to help the U.S. economy. Traders are also watching budget negotiations in Washington. However, there was little [Read more]
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NuVista Announces Closing of Offerings
NuVista Energy Ltd. ("NuVista") (TSX:NVA) is pleased to announce that it has closed its previously announced public offering of 5,350,000 common shares, including 1,110,000 common shares issued on a "flow-through" basis, with a syndicate of underwriters led by Peters & Co. Limited and including BMO Capital Markets, CIBC, FirstEnergy Capital Corp., RBC Capital Markets Corp., Scotia Capital Inc., and TD Securities Inc. (collectively, the "Underwriters") for gross proceeds of $27.3 million (the [Read more]
Peyto Announces Closing of $115 Million Equity Offering
Peyto Exploration & Development Corp. is pleased to announce that it has closed its previously announced offering of 4,628,750 common shares on a bought deal basis (including 603,750 common shares issued pursuant to the exercise in full of the over-allotment option granted to the underwriters) at a price of $24.85 per common share, for total gross proceeds of approximately $115 million. The syndicate of underwriters was led by BMO Capital Markets and included CIBC, FirstEnergy Capital Corp., [Read more]
Spartan says Bonterra Offer “Superior”
Spartan Oil Corp. is pleased to provide an update to the news release that the Company issued on December 10, 2012 wherein Spartan reported that it had received an unsolicited offer from a third-party to acquire all of the issued and outstanding common shares of the Company ("Spartan Shares"). The Pinecrest Offer On November 21, 2012, Spartan announced that it had entered into an arrangement agreement (the "Pinecrest Arrangement Agreement") with Pinecrest Energy Inc. ("Pinecrest") [Read more]
Bonterra makes bid for Spartan
Bonterra Energy Corp., is pleased to announce that it has made an offer (the "Offer") to Spartan Oil Corp. ("Spartan") pursuant to which Bonterra will acquire all of the outstanding common shares of Spartan ("Spartan Shares") in exchange for common shares of Bonterra ("Bonterra Shares") by way of a plan of arrangement under the Business Corporations Act (Alberta) (the "Arrangement"). The Arrangement will result in a dominant Cardium focused light oil producer with interests in the Greater [Read more]
Canadian Oil Sands’ Trudy Curran Named One of Canada’s Most Powerful Women
Trudy Curran, Senior Vice President, General Counsel and Corporate Secretary of Canadian Oil Sands has been recognized by the Women''s Executive Network (WXN) as one of Canada''s Most Powerful Women: Top 100. "Achieving this recognition obviously doesn''t happen overnight. For Trudy, it is the result of years of successful legal work and dedication to her profession," said Marcel Coutu, President and Chief Executive Officer of Canadian Oil Sands Limited. "Trudy has worked in several [Read more]
VIDEO: Horizontal Drilling and Hydraulic Fracturing
Exall Energy Corporation updates Q4 drilling, production and waterflood operations
Exall Energy Corporation is pleased to update drilling, production and waterflood operations in the Marten Mountain, Mitsue area. Exall's public filings can all be found at www.exall.com or www.sedar.com. Highlights: Exall's current average daily production for December is approximately 1,330 boepd, an increase of 42% over the September average, Two wells were drilled between the Central Waterflood ("WF") and the North WF areas during Q4 with production to start in late [Read more]
MEG Energy Announces $400 Million Public Bought Deal Financing
MEG Energy Corp. reported today that it has entered into agreements to offer a total of 24,246,212 MEG common shares at a price of CDN$33.00 per share to raise gross proceeds of approximately CDN$800 million. Under the agreements, 12,125,000 MEG common shares will be issued on a bought deal basis through a syndicate of underwriters co-led by BMO Capital Markets, Credit Suisse Securities (Canada), Inc., Barclays Capital Canada Inc. and RBC Capital Markets (the "Public Offering"). An [Read more]
MEG Energy Announces 2013 Capital Budget and Production Guidance
MEG Energy Corp. released its 2013 capital budget and production guidance today, which includes planned capital investment of approximately $1.9 billion (including $90 million deferred from previously planned 2012 investments) and a production target of 32,000 to 35,000 barrels per day (bpd). Goals for 2013 include: Focus on the RISER initiative to deliver high return, near-term production growth which, in turn, advances cash flow to support the company's significant growth [Read more]