A&D News Briefs - December 12, 2013• During Q3 Anadarko Petroleum increased its stake at the deepwater Coronado discovery in the Gulf of Mexico to 35% from 15%. Operator Chevron struck oil at Coronado in March, encountering over 400 ft of net pay. Prior to the deal the Coronado ownership structure was Chevron (40% WI), ConocoPhillips (35%), Anadarko (15%) and Venari Resources (10%).• Chestnut E&P has acquired 10,250 acres in proven East and North Texas fields as part of Chestnut Lease Fund I LP. The assets in Anderson,...
Dec 12, 2013
Financing Briefs - December 03, 2013• Pursuant to its Q3 evaluation of strategic alternatives, Angle Energy has found a buyer---Bellatrix Exploration. The $576.5 million deal will include the assumption of $261 million in Angle's debt, which includes $60 million in 5.75% convertible debentures due 2016. Angle's shareholders will receive $3.85/share in cash or common shares, with the cash portion capped at $69.7 million. Angle said the buyout will be completed in mid-December.• Blackbird Energy closed a private placement...
Dec 03, 2013
People Briefs - November 06, 2013• Canadian Overseas Petroleum announced the departure of chief accounting officer Aleksandra Owad.• Genoil appointed Bengt Koch to the board, replacing Ron Hutzal. Slobodan Puhalac has been appointedas vice chairman. CEO David K. Lifschultz has been appointed as CFO, succeeding Brian Korney.• Huntington Exploration appointed Sharon Evans CFO. Prior to joining the company Evans worked at Thiessen & Company for more than 18 years consulting for a variety of oil and gas...
Nov 06, 2013
A&D News Briefs - October 30, 2012• Blackbird Energy Inc. amended its agreement to acquire Ruger Energy Inc. Ruger has a 100% WI in 680 acres in the Alsask area on the Alberta/Saskatchewan border. Blackbird's Bigstone project covers a net 5,120 acres at Bigstone. The new agreement cuts the price of transaction units to be issued by Blackbird to the shareholders of Ruger from $0.12 to $0.101 per unit. Each unit consists of one common share and one half-share purchase warrant, resulting in ~47.1 million shares and ~23.6 million...
Oct 30, 2012
Stock Briefs - October 10, 2012• Bellatrix Exploration Ltd. has begun trading on the NYSE MKT under the symbol "BXE."• Blacksteel Energy Inc. granted a total of ~1.7 million stock options to directors of the company. The options are exercisable at $0.10 for 10 years from the date of the grant.• Canadian Phoenix Resources Corp. plans to make a normal course issuer bid beginning September 25 to buy for cancellation up to ~3.8 million of its common shares, or 10% of its public float. The company plans to fund...
Oct 10, 2012
International Briefs - August 07, 2012• Enterprise Energy Resources Ltd. sub Evolution Oil Group LLC sold a 100% WI (80% net revenue interest) in ~15,971 net mineral acres in the Williston Basin, Montana, or 53% of Evolution's current holding, to an arm's length third party for $19.1 million. Evolution retains a 100% WI in ~14,000 net mineral acres.• Fima Inc. struck a deal to buy a lease in the Bellevue oil field in Bossier Parish, Louisiana, from Canco Energy Corp. for US$25 million in Fima restricted common shares. Canco...
Aug 07, 2012
Financing Briefs - October 07, 2011- GASFRAC Energy Services Inc. has entered into a new $100 million secured syndicated credit facility, consisting of a $10 million revolving operating credit facility and a $90 million revolver. The revolver may be increased to $115 million on the company's request and lenders' acceptance.
- Jadela Oil Corp. has issued a total of ~3.4 million units at $1.00 per unit for gross proceeds of ~$3.4 million pursuant to its previously announced private placement. Each unit is comprised of one common...
Oct 07, 2011