MERGERS & ACQUISITIONS & DISPOSITIONS - QUARTERLY REPORTS - PRODUCTION UPDATES - CORPORATE ANNOUNCEMENTS - FINANCIAL UPDATES -3RD PARTY REPORTS
Q2 2016 and YTD 2016 revenue, net of royalties, decreased 68% to $22.8 million (Q2 2015 - $71.3 million) and 72% to $34.6 million (YTD 2015 - $125.1 million), respectively
Lightstream Announces Receipt of Commitment Letters, Amendments to Recapitalization Support Agreement
In connection with the completion of the Arrangement, the Company will use the New Facility Commitments to repay the Company's existing credit facility in full.
During the second quarter of 2016, the Company's operations were affected by extremely wet surface conditions which resulted in limited surface access.
Over the past two years, the Company has been challenged to respond to the negative effect that the significant reduction in oil and gas prices has had on reducing capital expenditures in Western Canada, especially in the oil sands market.
* Alberta Oilsands Inc. Provides Notice to
Smoothwater Capital Corporation on Previous
* Changes to Petrolia Management Team
* Toromont Industries Ltd. - Normal Course
Read all this week's announcements...
Currently the Company expects that the total distributions to the Shareholders will be approximately $0.59 per Common Share.
During the year ended December 31, 2013, the Company sold or withdrew from three of its working interests in Colombia and on January 31, 2014 it sold substantially all of its remaining assets and liabilities.
The Company filed a notice of intent to dissolve with Alberta Corporate Registry and a Certificate of Intent to Dissolve was issued by Alberta Corporate Registry on August 26, 2016.
Today's Energy Prices
North American Rotary Rig Counts...
- Canadian rig count down 5 at 121
- U.S. rig count up 10 at 491
In Related News
The Company announced on May 1, 2015 that it had completed the demonstration phase of its patented JetShear technology with its partner, a large oil sands producer.
The Coalition notes that very few national projects could generate and maintain, on an annual basis, over some nine years, more than 14,000 direct and indirect jobs
The Energy East hearing will include many opportunities for hearing participants to provide input, including Panel Sessions, written submissions, oral cross-examination and final argument.
Altura Energy Inc. Announces Acquisition of Strategic High Quality Low Decline Assets
The Assets are 100 percent operated and have a low base production decline estimated at 10 percent per year from a high quality sandstone reservoir.
Hemisphere Energy Announces Q2
2016 Financial and Operating Results
Hemisphere realized an operating netback of $580,876, or $12.97/boe, for a $10.24/boe improvement over the first quarter of 2016 with an average WTI price of $45.59 US/bbl.
Relentless Financial and Operating Update
As of today's date, Relentless has a net debt of approximately $2.72 million dollars on a credit line of $3.0 million dollars. Current production, based on field estimates, is approximately 175 boed (60% oil and liquids).
Renaissance announces acquisition
of its fourth block in Mexico
Renaissance is also pleased to announce it has completed the 90 day transition period and has now assumed full operatorship of the one hundred percent (100%) held Mundo Nuevo, Topén and Malva blocks in Chiapas, Mexico
International Frontier's Tonalli Energia Signs Onshore Block License Contract with Mexico
"After months of preparation, this is an important milestone for IFR in formalizing our partnership with the Mexican government."
In Related News
Twin Butte Responds to Open Letter
to Debenture Holders
Twin Butte Energy Ltd. wishes to respond to the claims made in a press release from Mr. Murray Bockhold yesterday, which included a number of inaccurate statements
Saudi Energy Minister talks down intervention
There is speculation that OPEC and other producers, led by Russia, will agree to output curbs at a meeting in Algeria Sept. 26-28. Saudi Energy Minister Khalid al-Falih says he does not believe any significant oil market intervention is necessary.