(AP) - Oil prices were down slightly but still above $107 a barrel Tuesday as President Barack Obama's struggle to win support for U.S. military intervention in Syria diminished expectations of an imminent attack. By early afternoon in Europe, benchmark crude for October delivery was down 35 cents to $107.30 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell $1.15 to close at $107.65 on Friday and Nymex floor trading was closed Monday because of Labor [Read more]
Headlines
Bellatrix announces the successful closing of its previously announced $200 million strategic joint venture partnership and $52.5 million asset disposition
CALGARY, Sept. 3, 2013 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE MKT: BXE) is pleased to announce it has successfully closed the previously announced asset sale (the "Asset Sale") and joint venture (the "Joint Venture") with the Canadian subsidiaries of Daewoo International Corporation ("Daewoo") and Devonian Natural Resources Private Equity Fund ("Devonian"). Under the terms of the associated agreements, Bellatrix sold, effective July 1, 2013, to the [Read more]
TriOil provides update on strategic process
CALGARY, Sept. 3, 2013 /CNW/ - (TSXV:TOL) TriOil Resources Ltd. ("TriOil" or the "Company") announces that it has extended the period of exclusive negotiations between itself and another party in relation to its strategic alternatives process. The exclusive negotiation period has been extended from the end of August to the second half of September 2013 by mutual agreement of the parties. At the present time, there can be no assurances or guarantees that these negotiations will result in an [Read more]
See what energy merger ranks in the Top 10 deals
(AP) - On Monday, Verizon Communications Inc. agreed to pay $130 billion in cash, stock and other considerations to acquire Vodafone Group’s 45 percent stake in the Verizon Wireless business. The deal, if finalized, will be the second largest acquisition on record. According to research firm Dealogic, here are the other top 10 merger and acquisition deals on record. Dates reflect when the deals were announced, not when they closed. — Vodafone AirTouch PLC acquisition of Mannesmann AG, $172 [Read more]
Obama seeks authorization to strike Syria
WASHINGTON (AP) -- Short on support at home and allies abroad, President Barack Obama unexpectedly stepped back from a missile attack against Syria on Saturday and instead asked Congress to support a strike punishing Bashar Assad's regime for the alleged use of chemical weapons. With Navy ships on standby in the Mediterranean Sea ready to launch their cruise missiles, Obama said he had decided the United States should take military action and that he believes that as commander in chief, he [Read more]
Blacksteel Energy Inc. Announces Resignation of Director
CALGARY, ALBERTA--(Marketwired - Aug. 30, 2013) - NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES Blacksteel Energy Inc. (TSX VENTURE:BEY) ("Blacksteel" or the "Corporation") announces that Greg McLean has resigned from the board of directors due to other commitments. The Corporation would like to thank Mr. McLean for his extensive contributions while on the board of Blacksteel. Blacksteel is a junior oil and gas company involved in [Read more]
Blackdog Resources Ltd. Announces Intention to Purchase Two Light Oil Properties in Alberta for $13,000,000
CALGARY, ALBERTA--(Marketwired - Aug. 30, 2013) - Blackdog Resources Ltd ("Blackdog" or the "Company") (TSX VENTURE:DOG) is pleased to announce that it has signed two separate non-binding Letters of Intent (the "LOI's") with two separate arm's length vendors to purchase two light oil properties in Northern Alberta (the "Acquisitions"). Under the terms of the LOI's, Blackdog will purchase both properties for a cumulative total of $13,000,000 in cash. The properties ("Property A and Property B") [Read more]
Shoreline Energy Corp. Announces Credit Facility Extension
CALGARY, ALBERTA--(Marketwired - Aug. 30, 2013) - Shoreline Energy Corp. (TSX:SEQ) ("Shoreline" or the "Company") is pleased to announce that it has received a 30 day extension from its lender ATB Financial to comply with certain working capital covenants under the terms of its loan facility. Shoreline requested the extension in order to have adequate time to complete closing of a new credit facility secured against its US assets which are not included in the Company's current borrowing base. [Read more]
Pine Cliff Completes Acquisition of Further Working Interests in Shallow Gas Assets and Assumes Operatorship
CALGARY, ALBERTA--(Marketwired - Aug. 30, 2013) - NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. Pine Cliff Energy Ltd. ("Pine Cliff") (TSX VENTURE:PNE) is pleased to announce that the previously announced acquisition of additional working interests in the Monogram Unit and the Southern Alberta and Southern Saskatchewan properties (the "Assets") for cash consideration of $13.25 million, prior to adjustments, has closed. Pine [Read more]
Apache And Sinopec Enter Upstream Oil And Gas Partnership
Apache to receive $3.1 billion in exchange for 33 percent interest in Apache Egypt HOUSTON, Aug. 29, 2013 /PRNewswire/ -- Apache Corporation (NYSE, Nasdaq: APA) and Sinopec International Petroleum Exploration and Production Corporation today announced they have launched a global strategic partnership to pursue joint upstream oil and gas projects. As the first step in this partnership, Apache will receive $3.1 billion in cash, subject to customary closing adjustments, in exchange for Sinopec [Read more]