CALGARY - Calfrac Well Services Ltd. says it will spend US$147 million to buy Mission Well Services LLC, a privately held hydraulic fracturing and coiled tubing services provider focused in Texas.Calgary-based Calfrac said Friday that the purchase includes about $7 million of working capital associated with the ongoing operations of the business.It also notes that the purchase will pre-empt a portion of its 2014 capital expenditure program, which is expected to include similar equipment.The deal [Read more]
Headlines
Environmentalists say Alberta government keeping them out of oilsands hearing
EDMONTON - Alberta environmentalists argued in court Thursday that the provincial government is keeping them out of hearings on a proposed oilsands development at least partly because of their concerns about the industry.The accusation emerged in court documents filed in support of the Oilsands Environmental Coalition's bid to have a judge overturn a decision by Alberta Environment's northern region director denying the coalition the chance to present its concerns in hearings on a [Read more]
The Fort McKay First Nation Seeks Permission to Appeal the Dover Commercial Project Approval
CALGARY, Sept. 5, 2013 /CNW/ - Athabasca Oil Corporation (TSX: ATH) (Athabasca or AOC) reports the Fort McKay First Nation seeks permission to appeal the Dover Commercial Project approval. As previously reported, on August 6, 2013 the Alberta Energy Regulator (AER) approved the Dover Commercial Project noting that "the Project represents an economic opportunity, not only for Dover but also for Alberta, and will have a positive impact on the Province's economy". The Fort McKay First Nation [Read more]
Oil rises as U.S. economy improves
BANGKOK (AP) - Oil rose Thursday after new U.S. indicators underlined a modest recovery in the world's biggest economy.Benchmark oil for October delivery was up 72 cents to US$107.95 at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell Wednesday by $1.31, or 1.2 per cent, to close at $107.23 a barrel on the Nymex.A jump in U.S. auto sales helped brighten the outlook for oil consumption. General Motors and other U.S. carmakers posted strong [Read more]
Sure Energy Inc. and Tamarack Valley Energy Ltd. Announce Closing of $25 Million Bought Deal Financing
CALGARY, ALBERTA--(Marketwired - Sept. 5, 2013) - NOT FOR DISTRIBUTON TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Sure Energy Inc. (TSX:SHR) ("Sure Energy") and Tamarack Valley Energy Ltd. ("Tamarack" or the "Company") (TSX VENTURE:TVE) are pleased to announce that, further to their joint news release on August 20, 2013, Sure Energy has completed a bought deal private placement offering of 96,200,000 subscription receipts ("Subscription Receipts") at a price [Read more]
Altima Places Chambers, Alberta 15-35-41-11 W5M Well On-Stream and Updates 14-15-41-11 W5M Pipeline and Facilities Construction
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 5, 2013) - Altima Resources Ltd. (TSX VENTURE:ARH) (FRANKFURT:AKC) (PINKSHEETS:ARSLF) announces Altima and its joint venture partner Whistler Oil and Gas Pty. Ltd., have reached a milestone in their Chambers Alberta operations, by initiating natural gas and gas condensate sales from the 15-35-41-11W5M well. During the last month, the pipeline and production facilities were completed connecting the 14 -35 well into Altima's 6.4 kilometer pipeline [Read more]
Pembina Pipeline Corporation CEO, Bob Michaleski, to Retire; Board Appoints Current President and COO, Mick Dilger, as Incoming CEO
CALGARY, Sept. 4, 2013 /CNW/ - The Board of Directors of Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today that Bob Michaleski, Pembina's Chief Executive Officer ("CEO"), plans to retire at the end of 2013 after 35 years of service with the Company. The Board also announced thatMick Dilger, Pembina's President and Chief Operating Officer ("COO"), will succeed Bob as CEO effective January 1, 2014, at which time, he will also be appointed to the [Read more]
Mideast Oil Loses Some of its Power
On his way back from the Yalta conference in February 1945 where US President Franklin D. Roosevelt met with Great Britain's Winston Churchill and the Soviet Union's Stalin, the American president made an unscheduled stop in Egypt where he met with Saudi Arabia's King Abdel Aziz ibn Saud aboard the USS Quincy, in the Suez Canal's Great Bitter Lake. The basis of the meeting was to ensure that Americans would have an uninterrupted supply of oil. Oil in fact was the only thing that these two [Read more]
Blackbird Energy Inc. Announces Plans to Drill the First Success Well at Its New Oil Exploration Project in the Mantario Area of West Central Saskatchewan Focusing on the Lower Mannville
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 4, 2013) - (TSX VENTURE:BBI) Blackbird Energy Inc. ("Blackbird" or the "Company") is pleased to announce that it plans to spud its first Success Formation well at its new oil exploration project located in the Mantario area of West Central Saskatchewan (the "Mantario Project") in the fourth quarter of 2013. The Mantario Project, consists of 1,440 gross acres (net 1,008 acres) of P&NG rights located approximately 21 kilometers southeast [Read more]
Donnycreek Reports Proposed Class Action Lawsuit
CALGARY, ALBERTA--(Marketwired - Sept. 3, 2013) - Donnycreek Energy Inc. ("Donnycreek" or the "Company") (TSX VENTURE:DCK) reports that it has become aware of a proposed class action lawsuit filed in the Alberta Court of Queen's Bench against Donnycreek, Donnybrook Energy Inc. ("Donnybrook") and certain of their respective directors and officers. The action contains various claims relating to the plan of arrangement involving Donnycreek and Donnybrook completed in November 2011, the transfer of [Read more]