Headlines for April 25, 2017

  1. Alberta Court Of Appeal Upholds RedWater Decision In Split Ruling

    In a 2-1 decision, the Alberta Court of Appeal has upheld an earlier ruling by Alberta Court of Queen’s Bench Chief Justice Neil Wittmann that Alberta Treasury Branches, the secured creditor of insolvent RedWater Energy Corp., has priority over the obligation to abandon and remediate company wells without value.  

  2. RedWater Appellants Still Undecided On Appeal To Supreme Court Of Canada

    The Canadian Association of Petroleum Producers (CAPP) and the Alberta Energy Regulator (AER) are disappointed with the majority decision of the Alberta Court of Appeal to uphold a Court of Queen’s Bench decision which found that receiver Grant Thornton Limited was entitled to renounce some assets of insolvent RedWater Energy Corp.

  3. Sponsored Content: How Technology Has Simplified Business

    The future of business is here and that means complacency is no longer an option. Living in a “comfort zone” when it comes to running operations can mean falling behind the competition; today’s environment demands flexibility to change to constantly evolving technology.

  4. Construction On Fort Hills Surpasses 83 Per Cent: Teck

    Construction of the Fort Hills oilsands project has surpassed 83 per cent completion, with three of the six major project areas (mining, ore preparation plant and infrastructure) turned over to operations, reported Teck Resources Limited.

  5. Compliance Comes In Many Forms. Is Your Firm Ready?

    The return to growth in the oil and gas industry as prices firm up offers the opportunity to capitalize on the emergent momentum for those companies best prepared to take advantage. But with growth comes change.

  6. Savanna Announces Change Of Control Offer For Outstanding Senior Notes And Temporary Waiver From Syndicated Credit Facility Lenders

    Savanna Energy Services Corp. announced that, in connection with the acquisition by Total Energy Services Inc. of more than 50 per cent of the outstanding common shares of Savanna pursuant to Total's offer to purchase all of the common shares of Savanna, Savanna has issued a notice of change of control and change of control offer to repurchase the outstanding C$107.085 million aggregate principal amount of seven per cent senior unsecured notes of Savanna due 2018 at a price equal to 101 per cent of the aggregate principal amount of the notes repurchased, plus accrued and unpaid interest on such notes up to, but excluding, the date of purchase.

  7. Madalena Announces Sale Of Point Loma Escrowed Common Shares

    Madalena Energy Inc. announced that pursuant to a purchase and sale agreement dated April 21, 2017 with an arms-length third party, the company sold 4.68 million escrowed common shares in Point Loma Resources Ltd. for gross cash proceeds of C$1.1 million.

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