Headlines for June 1, 2016

  1. Pengrowth’s Lindbergh Expansion Gets Regulatory Nod

    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.

  2. High North Resources Ltd. Receivership Sale

    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.

  3. Kinwest 2008 Energy Inc. Receivership Sale

    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.

  4. Twin Butte Credit Facilities Extended To June 1

    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.

  5. Bonterra Borrowing Base Reduced To $380 Million

    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.

  6. New Chair Appointed To Alberta Apprenticeship Board

    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.

  7. Marquee Closes Disposition Of Shallow Gas Asset

    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.

  8. Kelt Announces Amendments To Credit Facility

    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.

  9. Horizon North Completes Strategic Acquisition

    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.

  10. Bankers Temporarily Curtails Albania Production

    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.

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