Headlines for May 20, 2016

  1. Economic Benefits A Major Factor In NEB Support For Trans Mountain

    In recommending federal government approval for the proposed Trans Mountain pipeline expansion, the National Energy Board (NEB) panel says it placed significant weight on the economic benefits, many of which would be realized throughout Canada, in particular British Columbia, Alberta, Ontario and Quebec.

  2. RedWater Ruling Could See Orphan Well Count Soar: Lawyers

    While seen as a victory for industry lenders, an Alberta court ruling this week could result in a sharp rise in the number of orphan wells, potentially leaving taxpayers on the hook for unfunded well abandonment costs, according to lawyers familiar with the case.

  3. Connacher Oil And Gas Limited — Oil Sands Assets For Sale

    On May 17, 2016, Connacher Oil and Gas Limited (“Connacher”) obtained court protection under the Companies’ Creditors Arrangement Act (“CCAA”) pursuant to an initial order granted by the Alberta Court of Queen’s Bench. Ernst & Young Inc. was appointed as the Monitor (the “Monitor”) of Connacher for the CCAA proceedings.

  4. Blackbird In Gas Handling Agreement

    Blackbird Energy Inc. has executed a binding take-or-pay gas handling agreement with a third party for the firm transportation and processing of sour natural gas produced from Blackbird's condensate-rich Elmworth project.

  5. Manitok Closes First Tranche Of Private Placement

    Manitok Energy Inc. closed the first tranche of its previously announced best-efforts private placement offering of common shares in the capital of Manitok issued at a price of 18 cents per common share, and common shares issued on a flow-through basis in respect of Canadian exploration expense under the Income Tax Act (Canada) at a price of 21 cents per flow-through share.

  6. Perisson And Forent Close Acquisition

    Perisson Petroleum Corporation and Forent Energy Inc. have closed the previously announced acquisition of certain producing oil and gas assets in the Twining area of Alberta.

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