MERGERS & ACQUISITIONS & DISPOSITIONS - QUARTERLY REPORTS - PRODUCTION UPDATES - CORPORATE ANNOUNCEMENTS - FINANCIAL UPDATES -3RD PARTY REPORTS
Inter Pipeline Ltd. announced today that it will receive $200 million in royalty credits from the Government of Alberta's Petrochemical Diversification Program, in support of the proposed construction of a $1.85 billion propane dehydrogenation (PDH) facility near Fort Saskatchewan, Alberta.
Pembina Pipeline Corporation Announces 2017 Capital Program of $1.9 Billion and Alberta Government Royalty Credit Award
"2017 will be transformational for Pembina, as our capital program is largely directed towards completing approximately $4 billion in capital projects, the majority of which will be coming into service and contributing to cash flow by the middle of the year,"
Veresen remains positioned for meaningful near term growth with an inventory of over $1.3 billion of projects under construction that are expected to generate an incremental $135 to $160 million of annual run-rate EBITDA net to Veresen.
B.C.'s top-supplier rank comes during one of the most severe downturns in Canada's oil and gas industry, a period when industry revenues have fallen $60 billion and capital spending has dropped $44 billion
The Harmattan asset sale will further simplify the Company's asset portfolio and is expected to allow the Company to reduce outstanding bank debt to approximately $30 million at December 31, 2016.
* Which Canadian province is the most
attractive for oil and gas investment?
* Groundstar Announces Loan Agreement
Read all this week's announcements...
The Harmattan acquisition provides the Company with a meaningful re-entry into Canada with concentrated, high working interest assets in proven, low risk development light oil and liquid-rich gas play types.
Northern Blizzard Resources Inc. Announces Changes to Dividend, Substantial Issuer Bid and 2017 Guidance
The annualized dividend of $0.24 per Share represents an annual yield of approximately 6% based on the five-day volume weighted average trading price of Northern Blizzard's Shares.
Having been active in this area since 2012, Junex owns an interest of 25% in this well and in the surrounding/neighboring acreage totalling approximately 2,219 gross acres.
The refinery is designed to ultimately consist of three identical phases. The initial phase of the Sturgeon Refinery is designed to process 78,630 barrels per day of diluted bitumen (dilbit), which will contain a minimum of 50,000 barrels of raw bitumen.
The report "Is There Value In Adding Value" was released on Monday, and shows a wide range of economic benefits from the government's investment in the refinery, including 75,774 person years of total employment during construction.
Today's Energy Prices
North American Rotary Rig Counts...
- Canadian rig count up 26 10 at 200
- U.S. rig count up 4 at 597
Precision's sustaining and infrastructure capital plan is based upon currently anticipated activity levels for 2017 and scheduled infrastructure projects, primarily related to technology and systems.
Wavefront's Powerwave Technology Increases Estimated Ultimate Recovery in the Cerro Dragon, Argentina, Oil Field Project
"Wavefront has consistently claimed that a Powerwave-driven waterflood could add up to 5% to ultimate oil recovery."
In consideration for the acquisition, BSI will make contingent payments to the Vendor, in tranches, totalling up to four million dollars based on the start of crude oil production to eighty thousand barrels per day.
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The dispute was in regards to the income tax treatment of realized losses in 2007 on the settlement of certain derivative contracts.
Irving Oil Announces Expansion of its
Terminal Network in Nova Scotia
Irving Oil announced today that it has entered into a purchase agreement to acquire four inland storage facilities in Nova Scotia from Valero Energy
US Oil Sands Inc. Announces US$7.5 Million Financing and PR Spring Project Update
The Company is pleased to report that the Project is mechanically complete and all but final commissioning activities are also complete.
Tervita Corporation Announces Commencement of an Offering of Senior Secured Notes by Tervita Escrow Corporation
Proceeds from the offering of the Notes are expected to be used to finance the previously announced recapitalization transaction (the "Recapitalization Transaction"). The Recapitalization Transaction is expected to close in December 2016.
Sunshine Oilsands Ltd. Announcement of Closing of Private Placement of the Remaining 98,453,334 Common Shares Under Specific Mandate
Under the Closing, the Corporation received total gross proceeds of HK $73,840,001 (approximately CDN $12.69 million at current exchange rates) for the allotment and issue of 98,453,334 Common Shares (the "Issued Shares").
Enbridge Announces Close of $1.075-billion
Sale of South Prairie Region Assets
The Assets sold are liquids pipelines and related facilities in southeast Saskatchewan and southwest Manitoba, and include the Saskatchewan Gathering and Weyburn gathering systems as well as the Westspur trunk line
BlackPearl Announces the Sale of a Royalty Interest on Its Onion Lake Property for $55 Million
The proceeds of the sale will initially be used to re-pay bank indebtedness, which will free up borrowing capacity on our credit facilities that is expected to be used to partially fund the expansion of our thermal operations at Onion Lake.
PrairieSky Announces $117M
in Royalty Transactions
"Over the past several months PrairieSky has continued to identify and execute on opportunities to expand its land and royalty portfolio to new and emerging plays,"
Questfire Energy Corp. Announces Closing of Asset Sale and Conversion of Class B Shares
The Corporation is actively pursuing further asset sales and investigating a number of options to continue reducing its senior bank debt.
Acquisition of Rights of Bengal Energy Ltd.
In connection with the Rights Offering, Texada agreed to purchase from Bengal, and Bengal has agreed to sell to Texada, at the Subscription Price.
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First Nations Rights Must Be Respected by Federal Government in Pipeline Development
"We cannot stress enough that respect for First Nations rights is essential in any resource development decisions," said AFN National Chief Perry Bellegarde.