IS - People & Companies - May 8, 2020Equinor appointed Tore Løseth as its acting EVP of exploration, with current EVP Tim Dodson stepping down to take on the role of VP of strategy execution in global strategy and business development. Løseth has worked at Equinor since 2001 and served as the SVP of international onshore exploration since 2017. Prior to that, he was the SVP of exploration for the Gulf of Mexico for four years. Effective June 1, MEG Energy’s board members will receive a 25% cut in compensation, the...
May 08, 2020
CS - People & Companies - June 19, 2019Altura Energy named John
Chambers to its board. He was vice
chairman and president at GMP First
Energy and a member of its executive
committee until his retirement last
November. He was CEO at FirstEnergy
Capital Corp. before the firm was
acquired by GMP Capital Inc. in 2016. He
was granted options to acquire 200,000
common shares of Altura at a strike price
of $0.425 per share. Canadian Spirit Resources elected
Louisa DeCarlo as an independent director.
She is president of Danrich...
Jun 19, 2019
Canada’s smaller E&P firms continue to struggleCanada’s debt and equity markets
were mostly quiet as summer drew to a
close. Enbridge Inc filed a short form
shelf prospectus with the US Securities
and Exchange Commission
which allows it to issue
up to US$7.0 billion in
preferred shares anytime over the next 25
months. (PG 17)
Sunshine Oilsands announced that
its planned equity issue of 455 million
shares at $0.23 each for net proceeds
of $17.11 million was canceled after
the buyer, Prime Union Enterprise Ltd. backed away the issue....
Sep 13, 2017
People & Companies - April 27, 2017¦ TSX-listed CGX Energy announced the resignation of Dan Gillet from its board in conjunction with Blackhill Partners ending its mandate at CGX’s parent Pacific Exploration & Production Corp. Gillet was employed by Blackhill as part of Pacific’s recent restructuring and was appointed to CGX’s board during that process. The company holds three licenses in the Guyana Suriname Basin. ¦ Delphi Energy appointed Mark Behrman as CFO, who recently served as CFO of Sea NG Corp. of Calgary, a...
Apr 26, 2017
Zargon completes redemption auctionZargon Oil & Gas Ltd. took up $15.56 million aggregate principal amount of its 6.00% convertible unsecured subordinated debentures at tender prices from $890-$1,000 per $1,000 principal amount, for a total cash consideration of $14.84 million. The redemption auction was completed per Zargon’s plan to redeem up to $19 million aggregate principal amount of debentures. The amended debentures began trading on the TSX on April...
Apr 11, 2017
Zargon hedges more oil in 2017 - February 8,2017Zargon Oil & Gas Ltd. entered into an additional hedge to fix the WTI price of oil on 650 bbl/d at an average of C$71.50 for February to December 2017. When this hedge is combined with previously announced hedges the total volumes hedged from February to December 2017 are 1,300 bbl/d at an average price of...
Feb 08, 2017
Zargon sets capital budget for 2013 at $87MM, plans 25 wellsZargon Oil & Gas Ltd. set an overall capital budget of $87 million for 2013, with $50 million planned for conventional projects with the drilling of 25 net oil exploitation wells, plus an additional $37 million for its Little Bow Alkaline Surfactant Polymer tertiary recovery project in southern Alberta. The spending for Little Bow is conditional on the sanctioning of the construction phase of the project. The capital program is expected to be funded by cash flow, bank debt and the sale...
Nov 07, 2012
Zargon's Manitoba & Saskatchewan sales net $36MMZargon Oil & Gas Ltd. closed sales totaling $36 million with private companies for the sale of all of its southwest Manitoba assets and for selected properties in the Elswick area of southeast Saskatchewan. The assets are producing ~275 bopd and have 1P reserves of 960,000 bbl and 2P reserves of 1.3 MMbbl. Zargon plans to use the proceeds to pay down debt, which it expects to total ~$95 million once the deals close.According to metrics reported by Zargon, the company earned $36.38...
Jun 04, 2012
A&D - News Briefs - April 7, 2020Los Angeles-based mining company Tiger International Resources signed an MOU to acquire all of the outstanding ownership interest in Barnett-focused Alibates Operating, LLC from Mannah, LLC for $1.18 million. Alibates owns 64 wells with working interests ranging 20- 75% on 2,812 net acres (5,000 gross) in Parker, Tarrant and Wise counties, Texas. The wells are operated by Alibates subsidiary American Star Energy & Minerals Corp. and ANRE Gas Systems. Tiger will acquire the outstanding...
Apr 07, 2020
Canadian Scout - People & Companies Briefs - January 27, 2017Blue Sky Energy appointed corporate secretary Neil Said as VP and to the board following its acquisition of Sonoro Energy’s Iraqi E&P assets. The company also changed its name in July from Brookwater Ventures and began trading on the TSX Venture exchange as BSI. CGX Energy shook up its board. Four of its seven members resigned: cochairman Serafino Iacono, Ronald Pantin, Marino Ostos and Michael Galego. All were nominated to the board of Pacific Rubiales when it acquired CGX. Pacific...
Jan 27, 2017
CanadianAcquirer - People & Companies Briefs - January 11, 2017Calgary-based Baytex Energy appointed Ed LaFehr, President, to succeed James Bowzer as CEO in May 2017. LaFehr joined Baytex in July 2016 as President with responsibility for the company’s Canadian and US business operations and corporate development. Bowzer has served as CEO since September 2012 and will remain on the board. Blue Sky Energy appointed corporate secretary Neil Said as VP and to the board following its acquisition of Sonoro Energy’s Iraqi exploration and development...
Jan 11, 2017
Canadian Capital - People & Companies Briefs - December 22, 2016ARC Resources appointed David Collyer to the board of directors, effective immediately. Collyer has 40 years of experience in the oil industry both in Canada and abroad. From 2008-2014 Collyer was president of the Canadian Association of Petroleum Producers, a position he took after retiring from Shell after a 30-year career, where his last role was president and country chair in Canada.Bellatrix Exploration President and CEO Raymond Smith has taken a temporary medical leave of absence....
Dec 22, 2016
People & Company Briefs - August 04, 2015AltaGas Ltd. is appointing Tim Watson as CFO effective Nov. 1 to replace Deborah Stein, who is retiring. Stein will stay with the company in the role of EVP until next March to ensure a smooth transition. Watson joined AltaGas in March and has been leading business development initiatives for the energy infrastructure company. He was previously a managing director in Bank of America Merrill Lynch’s energy and power investment banking group. He has 25 years of experience in banking and is a...
Aug 04, 2015
Production Briefs - March 06, 2014• Canadian Oil Sands Ltd. achieved a key milestone with the completion of two of Syncrude's major projects. Syncrude completed its Aurora North Tailings Management and Aurora North Mine Train Relocation projects in 2013, ahead of schedule and about $200 million (gross to Syncrude) under budget. Progress on Syncrude's two major capital projects is tracking to plan, with the Mildred Lake Mine Train Replacement project reaching 80% completion and the Centrifuge Tailings Management project...
Mar 06, 2014
Financing Briefs - July 03, 2013• Alvopetro completed the second tranche of a $5.0 million non-brokered private placement of up to 20 million common shares at $0.25 per share. The company raised $575,000 by issuing 2.3 million shares, bringing the total raised so far to $2.0 million. Proceeds will be used for working capital and to finance the company's operations in Brazil. Alvopetro, formerly Fortress Energy, sold the majority of its Canadian oil and gas assets in 2010 to focus on shale/tight oil opportunities in...
Jul 03, 2013