Canadian oil and natural gas prices, along with the light-heavy oil differential, improved in May, providing some glimmers of hope for beleaguered producers.
June 1, 2016, 11:30 AM MDT
Husky Energy Inc.’s thermal heavy oil portfolio continues to lead the charge in the company’s growth plans and will receive increased capital focus moving forward.
June 1, 2016, 11:44 AM MDT
Raging River Exploration Inc. is acquiring Rock Energy Inc. in a $109-million deal that will see Raging River increase its Viking light oil assets.
June 1, 2016, 6:14 AM MDT
Kaisen Energy Corp. will continue to look for appropriate acquisitions after today’s announcement it has agreed to buy Hawk Exploration Ltd. for $16.1 million in cash.
June 1, 2016, 12:07 PM MDT
PetroFrontier Corp. is purchasing major resource property assets of Kasten Energy Inc. in the Cold Lake area for approximately $17.49 million.
June 1, 2016, 10:14 AM MDT
Pengrowth Energy Corporation has received regulatory approval to build the Lindbergh SAGD expansion project, which will take bitumen production to 30,000 bbls per day from Phase 1’s current capacity of 12,500 bbls per day.
June 1, 2016, 10:04 AM MDT
Conventional crude oil production decreased by 11 per cent in 2015 over 2014 as a result of low oil prices and is projected to continue declining throughout the forecast period to 2025, according to the Alberta Energy Regulator.
June 1, 2016, 9:39 AM MDT
Sayer Energy Advisors has been engaged to assist PricewaterhouseCoopers Inc. (“PwC”) in its capacity as receiver (”the Receiver”) of High North Resources Ltd. (“High North” or the “Company”) with the sale of the assets of High North as part of the receivership proceedings.
June 1, 2016, 6 AM MDT
Ernst & Young Inc. (“E&Y”), in its capacity as Court appointed Receiver and Manager of Kinwest 2008 Energy Inc. (“Kinwest”), is seeking offers to purchase the assets of Kinwest and has retained Peters & Co. Limited (“Peters & Co.”) as its exclusive financial advisor to assist in this process.
June 1, 2016, 9:36 AM MDT
LGX Oil + Gas Inc. says that its lender has not extended the credit facility past May 31, 2016.
June 1, 2016, 9:41 AM MDT
June 1, 2016, 9:40 AM MDT
The Sanjel name will not disappear from the roster of Canadian service and supply companies after Sanjel Corporation sought credit protection earlier this year after 34 years in operation.
June 1, 2016, 9:38 AM MDT
Due to low heavy oil prices, Tuscany Energy Ltd. deferred drilling activities in the first quarter of 2016, focusing on workovers and repairs of pumps on a number of wells, at both the Macklin and Evesham properties.
June 1, 2016, 7:25 AM MDT
Twin Butte Energy Ltd.’s bank syndicate has agreed to extend the maturity date of its $85 million non-revolving credit facility and the expiry of the revolving period of its $140 million revolving credit facility from May 31to June 1, 2016 to enable the company to continue with its strategic alternatives process.
June 1, 2016, 8:01 AM MDT
Seven Generations Energy Ltd. says its lenders have renewed and extended the company's $850 million credit facility following a scheduled redetermination of its borrowing base.
June 1, 2016, 8:02 AM MDT
June 1, 2016, 6 AM MDT
Bonterra Energy Corp. says that following a semi-annual review of its credit facilities and in light of current market conditions, its borrowing base has been reduced by approximately 10 per cent to $380 million from $425 million.
June 1, 2016, 7:27 AM MDT
Bellatrix Exploration Ltd. and its syndicate of lenders have mutually agreed to defer the semi-annual borrowing base redetermination under the company’s revolving credit facilities to June 30 from May 31.
June 1, 2016, 8:15 AM MDT
Packers Plus Energy Services Inc. recently installed and stimulated an open hole completion system in the Kurdistan region of northern Iraq.
June 1, 2016, 10:48 AM MDT
June 1, 2016, 9:51 AM MDT
j’Amey Holroyd has been appointed to a three-year term as the chair of the Alberta Apprenticeship and Industry Training Board, the first time in the board’s 71-year history that it has been chaired by a woman.
June 1, 2016, 8:04 AM MDT
Marquee Energy Ltd. says that it has completed the previously announced disposition of its non-core, shallow gas asset for total cash consideration of $5.57 million, net of initial closing adjustments.
June 1, 2016, 7:28 AM MDT
Kelt Exploration Ltd. has completed its semi-annual borrowing base review with its syndicated group of lenders, with the company agreeing to certain amendments to its existing credit facility and the borrowing base re-determined at $185 million.
June 1, 2016, 8:16 AM MDT
US Oil Sands Inc. says that it has successfully completed its previously announced equity rights offering raising total gross proceeds of C$12.8 million.
June 1, 2016, 7:29 AM MDT
Horizon North Logistics Inc. says that it has completed the previously announced acquisition of Karoleena Inc.,a manufacturer of designer prefabricated homes, for $2.5 million in a cash and share deal.
June 1, 2016, 7:30 AM MDT
Bankers Petroleum Ltd. announced today a temporary production impact from a business interruption at the Petrolifera Italo Albanese terminal port facility near Vlore, Albania, due to a crude oil leak that occurred when the terminal operator was loading a third-party vessel on May 22.
June 1, 2016, 10:55 AM MDT
June 1, 2016, 9:49 AM MDT
June 1, 2016, 9:50 AM MDT