CS - People & Companies - December 04, 2018Bayshore Petroleum Corp.
announced Alex Falconer was named as
an independent director. His appointment
is subject to approval by the
TSX Venture Exchange. He
serves as CFO of a TSX
Venture-listed company and a CSE-listed
company. In addition, he has been a
director and audit committee member of
many resource-based issuers. Michael Hill will retire as CFO at
Cathedral Energy Services effective
Dec. 31. Scott MacFarlane, the company’s
president and CEO, will assume the duties
of CFO on an...
Dec 04, 2018
Ottawa reverses position on forecign investmentsMore than four years after Ottawa put the brakes on oil sands acquisitions by Chinese companies, the Canadian government is shifting gears following an exodus of foreign producers from the high-cost, politically charged sector. On a five-day trip to China, Natural Resources Minister Jim Carr told reporters Canada’s “minds are open” to renewed Chinese investment and it would look at deals individually. “We would welcome investment from any nation that’s interested in the oil sands,” Carr added....
Jun 29, 2017
Eagle Energy takes out Maple Leaf Royalties for $13 millionConcurrent with its move from a royalty trust to dividend paying corporation, Eagle Energy Trust has struck a deal to buy Maple Leaf Royalties Corp. in an all-share deal for $13.2 million. Maple Leaf holds non-operated working interests along with GORRs, with the two asset groups contributing net production of 180 boe/d and 251 boe/d, respectively. Production is weighted toward gas, with 30% from both royalties and non-operated participating interests comprised of liquids. Eagle internally...
Nov 20, 2015
Eagle Energy Trust becomes a Canadian asset holderEagle Energy Trust unitholders have approved a special resolution to amend the investment restrictions in Eagle's trust indenture, enabling it to invest in energy assets in Canada. Eagle had been previously been limited to investing on non-Canadian assets ---the company currently has production of 1,900 boepd from properties in Texas and Oklahoma. The changes won’t have any impact on its US operations or the taxes on distributions from those operations; the company’s Canadian investments will...
Dec 15, 2014
Spyglass sells Saskatchewan production for $20 millionDuring Q3 Spyglass Resources Corp. sold non-core producing properties in Saskatchewan as well as seismic data for a total of $20 million prior to adjustments, exceeding its divestment target of $10-15 million. The buyers were not disclosed. Of the total deal value, $12 million closed in Q3 and $8.0 million on October 15. The divested assets produce 275 boepd. Spyglass reports metrics of $67,300 ppboe/d resulting in a total value of $18.5 million for the production; the remaining $1.5 million is...
Sep 26, 2013
Spyglass to sell $15 million in non-core propertiesSpyglass Resources Corp. is looking to close $10 to $15 million of asset sales in non-core areas but did not disclose details. The company holds 635,000 net undeveloped acres with core properties are in Dixonville, Noel, Southern Alberta (Matziwan, Atlee, Princess, Retlaw, Enchant, Grand Forks) and Provost-Halkirk. Company-wide production is 16,362 boepd (48% liquids) and proved reserves are 57.1 MMboe.Spyglass was formed in March from the merger of Pace Oil & Gas with AvenEx Energy...
Aug 12, 2013
Pace, AvenEx and Charger merge into Spyglass ResourcesPace Oil & Gas merged with AvenEx Energy and Charger Energy to form Spyglass Resources Corp. The new company reported that it was expecting its shares to start trading on the Toronto Stock Exchange under the symbol SGL on or about April 3. Spyglass described itself in a press release as "an intermediate-sized oil and gas producer with a balanced commodity profile and a month cash dividend," which is anticipated to be $0.02 per share.According to reports, Charger and AvenEx...
Mar 05, 2013
Pace, AvenEx, Charger deal delayed until MarchPace Oil & Gas, AvenEx Energy and Charger Energy have delayed the shareholder vote on their proposed merger until March 26. A vote on the deal was originally scheduled for February 19 but twice pushed back. The companies are attempting to form a dividend-paying producer to be known as Spyglass Resources Corp.Investment firm Nova Bancorp Securities Ltd., which holds a minor stake in Pace, has opposed the deal saying it undervalues Pace, among other complaints. Nova says it has the...
Feb 26, 2013
Vote on Pace-AvenEx-Charger merger delayedA shareholder vote on the merger of Pace Oil & Gas, AvenEx Energy and Charger Energy was pushed back to February 26 from its originally scheduled date of February 20. The companies are planning to form a dividend-paying producer to be known as Spyglass Resources Corp.The merger is facing a challenge from a group of dissident shareholders. Vancouver-based Nova Bancorp Securities Ltd. said it is working with seven of the largest shareholders of Pace to oppose the deal. Nova...
Feb 19, 2013
A&D News Briefs - September 29, 2015• Escalera Resources’ amended its $47 million agreement to acquire partner Warren Resources’ stake in shallow coalbed methane properties in the Atlantic Rim area of southern Wyoming’s Washakie Basin to allow termination by either party if the deal was not completed by Sept. 17. Neither company has filed an update since that date passed. Under the deal, Escalera would acquire Warren’s operated 74% WI in the Spyglass Hill unit and non-op 11% WI in the Catalina unit, increasing its ownership to...
Sep 29, 2015
People Briefs - August 08, 2014• Border Petroleum Ltd. hired Russell Tracy as production VP. He recently was the production engineer of CanEra Energy.• Phil Knoll plans to step down as president and CEO of Corridor Resources for personal reasons. He served in the positions beginning in 2010.• Spyglass Resources announced the resignation Bob Guy, production and operations VP. Brad Likuski was promoted to the position.• Super Nova Petroleum Corp. hired Ben Chu as president, COO and...
Aug 08, 2014
Canadian Capital People Briefs - July 10, 2014• PLS sends our condolences to the family of Stephen Inbusch, director of Bengal Energy who recently passed away.• Brownstone Energy's president and COO Jonathan Schroeder resigned from those positions but continues as a director. The company has no immediate plans to fill the vacated positions.• Canadian Oilfield Solutions is now called Divergent Energy Services Corp. and named Kenneth Bagan, Ken Berg, Scott Berry, Martin Hall and Robert Tutty as directors. Subsequently, Rene...
Jul 10, 2014
People Briefs - July 03, 2014• Brownstone Energy's president and COO Jonathan Schroeder resigned to pursue other business opportunities. The company has no immediate plan to fill the position, and reassures that Schroeder will remain a director of the board.• Ceiba Energy Services appointed Peter Cheung as CFO and corporate secretary effective June 30. Most recently Cheung served as VP finance and CFO at Petrobank Energy and Resources.• Chinook Energy appointed Jason Dranchuk as VP finance and CFO...
Jul 03, 2014
Closing Briefs - October 25, 2013• American Eagle Energy Corp. closed the acquisition of incremental interests in its Spyglass project in northwest Divide Co., North Dakota from partner USG Properties Bakken I LLC for $45 million cash after closing adjustments, adding 9,700 net acres and production of 750 boepd. American Eagle also has an option through March 2014 to double the size of the acquisition for an addition $47 million.• With the completion of Contango Oil & Gas and Crimson Exploration's $390 million...
Oct 25, 2013
Closing Briefs - April 8, 2013• Anterra Energy has completed its acquisition of Terrex Energy in an all-share deal where Terrex shareholders received ~0.3 Anterra shares for each Terrex share held. With 82.8 million Terrex shares outstanding and a January 2 closing price of $.05 for Anterra shares, the implied value of the deal was $1.2 million. In addition, holders of Terrex warrants received replacement Anterra warrants at the same ratio.• Pace Oil & Gas, AvenEx Energy and Charger Energy completed their merger...
Apr 08, 2013