MERGERS & ACQUISITIONS & DISPOSITIONS - QUARTERLY REPORTS - PRODUCTION UPDATES - CORPORATE ANNOUNCEMENTS - FINANCIAL UPDATES -3RD PARTY REPORTS
Today's Energy Prices
Blackbird has maintained a very strong balance sheet, with a working capital position of $6.3 million and no debt as at April 30, 2016.
Point Loma Resources Ltd. & Madalena Energy Inc. Announce Closing of Asset Deal in Central Alberta and Recapitalization of First Mountain Exploration Inc.
The resulting entity, Point Loma Resources Ltd. (formerly First Mountain), is a recapitalized, junior oil and natural gas exploration and production company and will be listed on the TSX Venture Excha
* Mr. Kjell Pedersen Leaves the
Anticosti Hydrocarbons L.P. Board
Read all this week's announcements...
The disposition equals an aggregate consideration of approximately $7.5 million, subject to customary closing adjustments, with an effective date of May 1, 2016.
The proceeds were used to eliminate the Corporation's bank indebtedness under its credit facility.
The total net proceeds from these transactions of approximately $158 million were used to initially pay down our bank debt. As at June 30, 2016, the total amount drawn on our current $200 million credit facility is forecasted to be $90 million or 45% drawn.
North American Rotary Rig Counts
- Canadian rig count up 7 at 76
- U.S. rig count down 3 at 421
Vermilion will assume operatorship of six of the eight producing fields, with the other fields operated by ExxonMobil Production Deutschland
The Company continues to be in default of certain obligations under the terms of the settlement agreement entered into with Diamond Offshore. The Company is in discussions with Diamond to seek a resolution to allow the Company to pursue its strategic plan.
In Related News
"A key goal of this report is to provide balanced, honest and transparent information that will help Canadians to make their own informed decision about the transmission pipeline industry." – Chris Bloomer, CEPA President and CEO
DXI Announces Closing of First Tranche
of Private Placement
An aggregate of 5,350,000 common shares of the Company were issued pursuant to the Offering at a price of Cdn$0.12 per Common Share for aggregate gross proceeds of Cdn$642,000
Canadian Spirit Resources Inc.
Announces Closing of Private Placement
The net proceeds of the offering are being used to gather reservoir information at the Corporation's c-69-H/94-B-1 well that was drilled at Farrell Creek, British Columbia in the first quarter 2016, and for general corporate purposes.
Pine Cliff Energy Ltd. Announces
$25 Million Disposition of Royalty Assets
The proceeds from the Disposition will be used to pay down bank indebtedness resulting in a permanent reduction to the Company's borrowing facility
MCW Energy Group Closes Financing
The proceeds of the financing will used for working capital. All shares issued pursuant to the non-brokered private placement are subject to a four-month hold period.
Trinidad Drilling Ltd. Announces Amendments to Its Credit Facility and Debt Covenants and Provides Operational Update
Trinidad is closely monitoring industry conditions and changes in customer demand and is preparing the Company for a future rebound in activity.
Formation Fluid Announces Closing of Second and Final Tranche of Private Placement Financing
The aggregate proceeds of the Offering will be used for general working capital purposes.
ThreeD Capital Inc. (Formerly Brownstone Energy Inc.) Announces Share Consolidation and Name Change
The common shares of the Company as adjusted to give effect to the Name Change and Consolidation commenced trading on the Canadian Securities Exchange effective as of June 23, 2016 under the new stock symbol "IDK".
PRD Energy Announces Completion of Its Strategic Review Process and Plan to Dissolve the Company
Effective immediately, the Company will cease to carry on business except as may be required to wind up the business and affairs of PRD.
In Related News
The 2016 Oil Sands Trade Show & Conference Is Re-Scheduled for 2017
In lieu of the Oil Sands Trade Show & Conference taking place in September 2016, dmg :: events will be partnering with the Municipality of Wood Buffalo and MacDonald Island Park to organize a charity golf tournament and a community event with all sponsorship proceeds going directly to local organizations including the United Way of Fort McMurray, Food Bank of Wood Buffalo and Keyano College.