|
|
Canadian Blue-chip Industrial Forum
|
|
||
O/G JournalAfrica Oil Corp. (AOI:TSX) announced on February 4th that it has completed the previously announced (November 9, 2015) farmout with Maersk Olie og Gas A/S related to Kenyan Blocks 10BB, 13T and 10BA.
At completion, Africa Oil received US$427 million from Maersk. This amount represents US$344 million of reimbursed past costs incurred by Africa Oil prior to the agreed March 31, 2015 effective date of the farmout and US$83 million representing Maersk's share of costs incurred between the effective date and December 31, 2015.
Keith Hill, Africa Oil's CEO, commented, "We are very pleased to have completed the Kenyan portion of our farmout to Maersk. We feel Maersk will be an excellent partner in terms of technical and financial strength and experience critical to moving the development project forward.”
Africa Oil Corp. is a Calgary based Canadian oil and gas company with assets in Kenya and Ethiopia. Company has a market cap of $812 million and approximately 456 million shares outstanding.
AltaGas Ltd. (ALA:TSX) announced on February 4th that it will release its 2015 fourth quarter and year end financial results on Thursday, February 25, 2016. A conference call and webcast will be held the same day to discuss the financial results, progress on construction projects and other corporate developments.
AltaGas is a Calgary based company involved in energy infrastructure business with a focus on natural gas, power and regulated utilities. Company has a market cap of $4.6 billion and approximately 146 million shares outstanding.
Cenovus Energy Inc.* (CVE:TSX) announced that will release its fourth quarter and year-end 2015 results on Thursday, February 11, 2016. The news release will provide consolidated fourth quarter and year-end 2015 operating and financial information. Financial statements will be available on the company's website.
Cenovus Energy Inc. is a Canadian integrated oil company based in Calgary. Company has a market cap of $13.9 billion and approximately 833 million shares outstanding.
Cequence Energy Ltd. (CQE:TSX) announced on February 4th its recent operating highlights. Company's recent Simonette Montney well at 16-33-61-27W5 utilized a new completion design and was highly successful based on initial results. The average production rate for the last seven days was 1,800 boe/d (7.5 mmcf/d and 550 bbl/d of condensate). The well continues to clean up and after 21 days is producing approximately 500 bbl/d of frac-water with a total of 28% of the load water recovered to date.
The 7-11-62-26W5 Dunvegan well (50% WI) has produced 47,000 bbls of 41 API oil in its first 150 operating days for an average 313 bbl/d of oil. The well has exceeded the Company's forecast model and continues to flow at an oil rate of 270 bbl/d at a 97% oil cut.
Cequence remains focused on preserving the strength of its balance sheet. With the continuation of low commodity prices, the Company has deferred the drilling of 2 (1.5 net) Dunvegan oil wells in the first quarter.
Cequence is a Calgary based Canadian energy company involved in the acquisition, exploitation, exploration, development and production of natural gas and crude oil in western Canada. Company has a market cap of $73 million and approximately 211 million shares outstanding.
Cub Energy Inc. (KUB:TSXV) announced on February 4th an update for its operations for the fourth quarter of 2015. This update includes ongoing operations from KUB-Gas LLC which Cub has a 30% ownership interest, and Tysagaz LLC, Cub's 100% owned subsidiary.
Average production for the fourth quarter was approximately 1,353 boe/d (Cub WI), which was flat as compared to third quarter production of 1,350 boe/d. Production volumes at KUB-Gas declined approximately 5% due to natural declines with the absence of development drilling while production volumes at Tysagaz increased 15% due to a successful workover on the RK-23 well.
In December 2015, a workover to recomplete the RK-23 well to the L-1 Upper was successful and the well is currently producing approximately 1.3 million cubic feet per day ("MMcf/d"). In January 2016, a workover at RK-21 set a retrievable plug above the current open perfs in the D-2 through D-3 Lower reservoirs and opened the D-0 reservoir for production. The workover was successfully completed and the well is on production at approximatley 1.3 MMcf/d.
Cub Energy Inc. is an upstream oil and gas company based in Houston and operations in Ukraine. Company has a market cap of $10.9 million and approximately 311 million shares outstanding.
Forent Energy Ltd. (FEN:TSXV) announced on February 4th that it has signed a non-binding letter of intent with respect to a proposed plan of arrangement with Perisson Petroleum Corporation. Under the plan of arrangement, each common share of Forent will be exchanged for one Perisson common share. Forent's outstanding options will be exercisable for Perisson common shares on the basis of the same exchange ratio.
Mr. Robyn Lore, President and CEO of Forent commented, "We believe that this business combination will provide the foundation and financial ability for the company to achieve management's goal of acquiring assets with existing production and future development opportunities."
Forent Energy Ltd. is a Calgary based oil and gas company with operations in western Canada. Company has a market cap of $3.6 million and approximately 15 million shares outstanding.
MEG Energy Corp. (MEG:TSX) announced on February 4th fourth quarter and full-year 2015 operating and financial results. Company reported a net cash flow of $12.5 million in the fourth quarter and $112 million in 2015. MEG experienced a loss of $(297) million in the fourth quarter and a loss of $(1.169) billion in 2015.
Company reported that it recorded quarterly production volumes of 83,514 barrels per day (bpd) contributing to record annual production of 80,025 bpd, a 12% increase year-over-year, while the 2015 capital budget was significantly reduced.
MEG Energy Corp. is a Calgary based company focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta. Company has a market cap of $1.3 billion and approximately 225 million shares outstanding.
Oando Energy Resources Inc. (OER.TSX) announced on February 4th that it has filed on SEDAR and is mailing a Notice of Meeting and Management Information Circular in respect of a special meeting of shareholders scheduled to be held on February 25, 2016 in Vancouver, British Columbia.
The documents present the reasons for the unanimous recommendation from OER's Board of Directors that shareholders vote in favor of a special to approve a proposed plan of arrangement with Oando PLC and Oando E&P Holdings Limited.
Oando Energy Resources Inc. is a Calgary based oil and gas company with operations in Canada. Company has a market cap of $1.3 billion and approximately $796 million shares outstanding.
Pengrowth Energy Corporation (PGF:TSX) announced on February 4th that it intends to release its fourth quarter and annual results for the period ending December 31, 2015 on Wednesday, February 24, following the close of equity markets. A conference call and listen only audio webcast will be held, beginning at 6:30 A.M. Mountain Time (MT) on Thursday, February 25, during which management will review Pengrowth's results and respond to questions from the analyst community.
Pengrowth Energy Corporation is an intermediate Canadian producer of oil and natural gas, headquartered in Calgary. Company has a market cap of $608 million and approximately 543 million shares outstanding.
Suncor Energy Inc.* (SU:TSX) announced its fourth quarter results for 2015. Cash flow from operations of $1.294 billion ($0.90 per common share), and an operating loss of $26 million ($0.02 per common share), driven by lower crude oil prices and a Refining and Marketing first-in, first-out loss of $77 million, partially offset by increased refining margins.
Net loss of $2.007 billion ($1.38 per common share), due to non-cash asset writedowns, which were a result of the depressed commodity cycle, and a foreign exchange loss on U.S. dollar denominated debt.
Suncor Energy is a Calgary based integrated energy company. Suncor's operations include oil sands development and upgrading, conventional and offshore oil and gas production, petroleum refining, and product marketing under the Petro-Canada brand. Company has a market cap of $45 billion and approximately 1.44 billion shares outstanding. AltaGas Ltd. (ALA:TSX) announced on February 3rd that its wholly owned subsidiaries, AltaGas Processing Partnership and AltaGas Holdings Inc., have entered into an agreement with Tidewater Midstream and Infrastructure Ltd. to sell AltaGas Northcentral Processing Limited Partnership, a limited partnership containing certain non-core natural gas gathering and processing assets. Total consideration to be received by AltaGas is $30 million cash and 43.7 million common shares of Tidewater.
David Cornhill, Chairman and CEO of AltaGas commented, “"The sale of these assets aligns with AltaGas' strategy to focus on operating and optimizing our larger plants and developing larger scale opportunities as part of our northeast British Columbia strategy. Moving forward, AltaGas and Tidewater have agreed to work together to identify additional opportunities that could enhance value for each company's respective producer customers and shareholders."
AltaGas is a Calgary based energy infrastructure business with a focus on natural gas, power and regulated utilities. Company has a market cap of $4.7 billion and approximately 146 million shares outstanding.
Calfrac Well Services Ltd. * (CFW:TSX) announced intends to release its Fourth Quarter 2015 results before markets open on Wednesday, February 24, 2016 and has scheduled a conference call and webcast to begin at 10:00 A.M. MT (12:00 P.M. ET) on the same day. A webcast of the conference call may be accessed via Calfrac's website. A replay of the conference call will be available for review until March 2, 2016.
Calfrac Well Services is a Calgary based energy services company. Calfrac has a market cap of $139 million and approximately 116 million shares outstanding.
East West Petroleum Corp. (EW:TSX) announced on February 3rd that it has received approval from the TSX Venture Exchange to renew its existing normal course issuer bid. The renewed Bid will be for up to 8,507,552 shares of the Company over a period of one year. The renewed Bid Period will commence on February 3, 2016 and will continue until the earlier of February 2, 2017 or the date by which the Company has acquired the maximum number of shares.
East West Petroleum is a Calgary based oil and gas company with operations in New Zealand. Company has a market cap of 7.2 million and approximately 90 million shares outstanding.
Enerplus Corporation (ERF:TSX) announced on February 3rd that has completed one of the divestments announced January 11, 2016 of certain Canadian natural gas properties for cash proceeds of approximately $183 million, before closing adjustments. Proceeds from this transaction were used to reduce the Company's outstanding indebtedness providing additional financial flexibility.
Production from the properties divested under this transaction was expected to average approximately 4,700 BOE per day (97 per cent natural gas) in 2016.
Enerplus is a North American energy producer based in Calgary. Company has a market cap of $812 million and approximately 207 million shares outstanding.
Petrus Resources Ltd. (PRQ:TSX) announced on February 3rd that the previously announced plan of arrangement involving Petrus, Petrus Resources Corp., Petrus Resources Inc. (formerly PhosCan Chemical Corp.) and Fox River Resources Corporation has closed, and aggregate gross proceeds from the previously announced $30 million bought deal financing subscription receipts of Petrus have been released from escrow.
Pro forma the Arrangement and the Financing, there are approximately 45.3 million Petrus Shares issued and outstanding. The net proceeds from the Arrangement and the Financing will initially be used to reduce debt, providing Petrus with lower interest expense and greater financial flexibility.
Petrus Resources Ltd. is a Calgary based oil and gas company. Petrus has yet tp establish a market cap and no shares have been listed on the TSX.
Stonehaven Exploration Ltd.* (SE:TSXV) announced an update on wells three and four in the four well Wilson Creek, Alberta Belly River development and exploration farm-in program that commenced in Q4 2015. As a result of drilling and completing all four wells in the program, Stonehaven has earned an interest in all four wells and associated lands.
At Bigstone, Alberta, Stonehaven has re-activated one of its three operated horizontal Montney wells. The well is currently producing intermittently subject to processing and transportation restrictions.
Stonehaven Exploration Ltd.is a Calgary based oil and gas company with operations in western Canada. Company has a market cap of $4.8 million and approximately 11.3 million shares outstanding.
Suncor Energy Inc. * (SU:TSX) announced that its board of directors has approved a quarterly dividend of $0.29 per share on its common shares, payable March 25, 2016 to shareholders of record at the close of business on March 4, 2016.
Suncor Energy is a Calgary based integrated energy company. Suncor's operations include oil sands development and upgrading, conventional and offshore oil and gas production, petroleum refining, and product marketing under the Petro-Canada brand. Company has a market cap of $45 billion and approximately 1.44 billion shares outstanding.
Tidewater Midstream and Infrastructure Ltd. * (TWM:TSXV) announced that it has entered into an agreement with AltaGas Ltd. to acquire 100% of AltaGas' working interest in select Deep Basin and central Alberta gas processing facilities and related infrastructure. Majority of the properties are located in Tidewater's core West Pembina region. Tidewater will issue to AltaGas approximately 43.7 million Tidewater common shares and pay AltaGas $30 million in cash, funded through cash on hand and availability under Tidewater's existing corporate credit facility.
Tidewater Midstream and Infrastructure Ltd is a Calgary based company engaged in purchasing, selling, and transportation of natural gas liquids such as ethane, propane, butane and natural gasoline throughout North America and export to overseas markets. Company has a market cap of $243 million and approximately 176 million shares outstanding.
TransCanada Corporation * (TRP:TSX) announced invites members of the media to attend a press conference to announce the signing of a major supply agreement with an international firm. The agreement will mean jobs for Québec stemming from the development of the Energy East Pipeline Project. It supports one of the key seven joint principles developed by both the Québec and Ontario Governments in 2014 that will guide their decisions concerning pipeline projects, including Energy East.
TransCanada is a Calgary based company which operates a network of natural gas pipelines through North America. Company has a market cap of $33 billion and approximately 702 million shares outstanding. CO2 Solutions Inc.* (CST:TSX) announced that a grant is expected to be used towards the commercial deployment of CO2 Solutions' technology in Alberta at approximately the 300 tonne-CO2/day scale (the "project"). It is anticipated that the project will comprise the capture of carbon dioxide (CO2) from a major Alberta industrial company, with beneficial reuse of the captured carbon.
The total cost of the project is budgeted at approximately $30 million. Company is currently pursuing non-dilutive financing to fund the balance of the project not covered by the CCEMC Grant.
CO2 Solutions Inc. is a Quebec City innovative company focused on enzyme-enabled carbon capture technology. Company has a market cap of $25 million and approximately 131 million shares outstanding.
Crius Energy Trust * (KWH.UN:TSX) announced on February 2nd that it has successfully acquired the customer contracts and associated assets for approximately 75,000 electricity residential customer equivalents(the "acquisition") from Iron Energy LLC d/b/a Kona Energy for a total acquisition cost of approximately US$7 million.
Michael Fallquist, Chief Executive Officer commented, “"Consistent with our growth strategy to acquire assets that continue to diversify the business, we are very pleased to have completed this acquisition that brings another 75,000 RCEs to the Crius portfolio. The acquisition diversifies the business by strengthening the geographic footprint, increasing the longer-term commercial customer base, and adding to our proportion of fixed rate contracts.”
Crius Energy Trust is an unincorporated open-ended limited purpose trust based in Toronto. Company is engaged in the sale of electricity and natural gas to residential and commercial customers under variable price and fixed price contracts. Crius has a market cap of $150 million and approximately 16.7 million shares outstanding.
Imperial Oil Limited (IMO:TSX) announced on February 2nd its fourth quarter results. Company reported that estimated full-year 2015 earnings were $1.1 billion compared with $3.8 billion a year earlier.
In the fourth quarter, net income totaled $102 million or $0.12 per share on a diluted basis, down from $671 million or $0.79 per share in the fourth quarter of 2014, driven by lower global crude prices.
Production averaged 400,000 gross oil-equivalent barrels per day, an increase of 27 percent from 315,000 barrels in the same period of 2014. Kearl bitumen production averaged 203,000 barrels per day in the quarter (144,000 barrels Imperial's share).
Imperial Oil Limited is a Calgary based company engaged in the exploration, and production and sale of, crude oil and natural gas. The Company's operations are conducted in three main segments namely upstream, downstream and chemical. Imperial has a market cap of $34 billion and approximately 848 million shares outstanding.
LGX Oil + Gas Inc.* (OIL:TSX) announced believes that its current share price is not reflective of the long term value within the company's asset base, and therefore has initiated a process to consider a range of strategic alternatives available to the company, with a view to enhancing shareholder value. These alternatives may include, but are not limited to, a sale of all or a material portion of the LGX assets, the outright sale of the company, or merger or other transaction involving a third party, and/or alternative financing initiatives.
LGX has engaged Sayer Energy Advisors to advise the Company in connection with this comprehensive review and analysis of strategic alternatives in connection with the process.
LGX Oil + Gas Inc. is a Calgary based oil and gas company with assets and operations in western Canada. Company has a market cap of $2.2 million and approximately 89 million shares outstanding.
Petromanas Energy Inc.* (PMI:TSXV) announced hat it has entered into a sale and purchase agreement with Shell Upstream Albania B.V., a wholly-owned subsidiary of Royal Dutch Shell plc, pursuant to which Shell has agreed to acquire all of Petromanas' Albanian assets for aggregate gross proceeds of US$45 million.
Proposed Transaction is expected to close on or about March 15, 2016 and is subject to customary closing conditions including applicable regulatory approvals, as well as Petromanas shareholder approval.
Company believes that the proposed transaction will provide significant benefits as it is intended to allow the company to return capital to shareholders, wind down the company's Albanian operations in an orderly manner and provide sufficient capital for the company to reorganize itself, including making strategic decisions on its assets in France.
Petromanas Energy Inc. is an international oil and gas company based in Calgary and focused on the exploration and development of its assets in Albania. Company has a market cap of $48.5 million and approximately 694 million shares outstanding.
Rock Energy Inc. (RE:TSX) announced on February 2nd its year end reserves evaluations. Company reported that year end 2015 reserves replacing over 400% of Its production during the year, and growing total proven plus probable reserves by 37%. This reserves update was undertaken by Rock's independent reserve evaluator, GLJ.
During 2015 Rock was able to add reserves light oil reserves at Onward at a cost of $26.00/boe (FD&A including revisions) generating a recycle ratio of 1.5.
Rock Energy is a Calgary based oil and gas company with assets and operations in western Canada. Company has a market cap of $56 million and approximately 48 million shares outstanding.
Spyglass Resources Corp.* (SGL:TSX) announced that the Alberta Court of Queen's Bench ) granted an order appointing Ernst & Young Inc. as Receiver and Manager of Spyglass Resources Corp. and its affiliates. In addition, on January 25, 2016, the court approved a process permitting the Receiver to sell the assets of Spyglass. The court also approved an agreement between the Receiver and the Alberta Energy Regulator which will facilitate the transfer of licenses to successful bidders.
The assets of Spyglass included combined 2015 average production of approximately 9,603 boe/d, working interests in 545,894 gross acres gross acres of land in Alberta and British Columbia (including 345,708 net undeveloped acres), combined 2P oil and natural gas reserves estimated at approximately 42,437 Mboe and all associated infrastructure owned by Spyglass.
Spyglass Resources is a Calgary based oil and gas company with operations and assets in Canada. Company is now in receivership.
Tourmaline Oil Corp. (TOU:TSX) announced on February 2nd that it has acquired assets for approximately $183 million CDN in the Minehead-Edson-Ansell area of the Alberta Deep Basin, immediately adjacent to one of the Company's largest-producing complexes. The acquired assets are within one of the large Cretaceous Wilrich 'sweet spots' that the Company has identified through the 2014/15 drilling programs in the Deep Basin.
Current production from the assets is ranging between 4,500 and 5,000 boepd. Tourmaline plans to grow this production to the 7,500 boepd level in the second half of 2016 with significant further anticipated growth in 2017. The Company estimates it will add approximately 48 mmboe in new 2P reserves in 2016 through this acquisition with the currently-planned 2016 development program.
Tourmaline is a Calgary based intermediate crude oil and natural gas exploration and production company focused on long-term growth through an aggressive exploration, development, production and acquisition program in the Western Canadian Sedimentary Basin. Company has a market cap of $5.8 million and approximately 221 million shares outstanding.
Alvopetro Energy Ltd. (ALV:TSX) announced on February 1st an operational update. Company expects to spud its 170(B1) well in early February. All site construction is complete and a drilling rig has been mobilized.
In 2015, 182(B1) well was drilled to a total measured depth of 2,095 metres, cased and cemented. Late in the fourth quarter, 182(B1) was brought on production. For the month of January the 182(B1) well produced oil at an average rate of 46 bopd with a 0.9% water cut.
Alvopetro has three wells on production, with total average production of 81 bopd, comprised of 25 bopd from Bom Lugar, 10 bopd from Jiribatuba and 46 bopd from 182(B1).
On January 12, 2016, company notified the Agencia Nacional do Petróleo, Gás Natural e Biocombustíveis of Brazil of its intention to relinquish Block 196 in accordance with the associated Brazil 9th Bid Round concession contract.
Alvopetro Energy Ltd. is a Calgary based independent exploration and production company with operations in Brazil. Company has a market cap of $25 million and approximately 85 million shares outstanding.
Bonterra Energy Corp. (BNE:TSX) announced on February 1st that the January 2016 monthly cash dividend will be $0.10 per share and will be paid on February 29, 2016. The record date for the dividend is February 16, 2016 and the ex-dividend date is February 11, 2016. The dividend is paid monthly and is subject to commodity prices and production levels. The dividend is considered an "eligible dividend" for tax purposes.
Bonterra Energy Corp. is a Calgary based conventional oil and gas corporation with operations in Alberta, Saskatchewan and British Columbia. Company has a market cap of $537 million and approximately 33 million shares outstanding.
CNOOC Limited (CNU:TSX) announced on February 1st that the Weizhou 12-2 oilfield joint development project (Weizhou 12-2) and Weizhou 11-4 North oilfield Phase II project (Weizhou 11-4 North) have recently commenced production.
The Weizhou 12-2 project is located in Beibu Gulf Basin of the South China Sea with an average water depth of approximately 36 meters. This project has three oilfields in total including the Weizhou 12-2 oilfield, the Weizhou 12-1 West oilfield and the north part of Weizhou 11-2 oilfield.
Weizhou 11-4 North project is located in Beibu Gulf Basin of the South China Sea with an average water depth of approximately 40 meters. The project shares the existing adjacent facilities for the development and built two wellhead platforms and 15 producing wells.
There is currently one well on production, producing a total of approximately 500 barrels of crude oil per day. The project is expected to reach its ODP designed peak production of approximately 8,000 barrels per day within the year.
CNOOC Limited is a Hong Kong based Chinese oil and gas company. CNOOC has a market cap of $1.3 billion and approximately 9.5 million shares outstanding.
Cub Energy Inc. (KUB:TSXV) announced on February 1st the company's wholly-owned subsidiary, Gastek, has revoked its notice to exercise its right of first refusal announced on January 6, 2016, to purchase the remaining 70% of KUBGAS Holdings Limited held by Serinus Energy Inc..
Mikhail Afendikov, Chairman and Chief Executive Officer commented, "This transaction provides our company with a strong local Ukrainian partner in Burisma and an immediate increase in our equity position in KUBGAS from 30% to 35% for no additional consideration. Our interest in KUBGAS continues to represent a very exciting growth project for the company, particularly with the recently announced reduction in royalties from 55% to 29% effective January 1, 2016."
Cub Energy Inc. is Houston based upstream oil and gas company, with operations in Ukraine. Company has a market cap of $9.3 million and approximately 312 million shares outstanding.
Long Run Exploration Ltd. (LRE:TSX) announced on February 1st that it has successfully entered into an amending credit facilities agreement with its bank syndicate. Long Run expects to mail an information circular to its securityholders in early February in connection with the special meeting scheduled for February 29, 2016 to approve the Arrangement. Closing of the Arrangement remains on track to occur in April 2016.
Company's total credit facilities have been amended to $620 million, of which approximately $580 million is currently drawn. The credit facilities are comprised of a $240 million revolving syndicated facility, a $30 million operating facility and a $350 million non-revolving syndicated facility.
As previously announced on January 25, 2016, the amended terms of the credit facilities continue to restrict the company from making any payment of interest or other amounts on its outstanding 6.40% convertible unsecured subordinate debentures, including the semi-annual interest payable on February 1, 2016.
Long Run Exploration Ltd. is a Calgary based oil and gas company with operations in western Canada. Company has a market cap of $62 million and approximately 194 million shares outstanding.
Serinus Energy Inc. (SEN:TSX) announced on February 1st that it has commenced the process of closing the sale of its interests in Ukraine to Resano Trading Ltd., an affiliate of the Burisma Group, a Ukraine entity actively involved in the upstream oil and gas industry in Ukraine. Gastek LLC, a wholly owned subsidiary of Cub Energy Inc., has waived its right of first refusal to purchase Serinus' Ukraine interests.
Serinus will receive total cash consideration of $30 million plus working capital and inter-company adjustments. The first $13.5 million has been released from escrow, and the final closing is expected to occur on or before February 8, 2016, after which the remaining funds will be released. The Company intends to use the proceeds from the sale for repayment of corporate debt, and to help fund development of the Moftinu gas discovery in Romania.
Serinus is a Calgary based international upstream oil and gas exploration and production company that owns and operates projects in Ukraine, Tunisia, and Romania. Company has a market cap of $38.5 million and approximately 78.6 million shares outstanding.
TransCanada Corporation (TRP:TSX) announced on February 1st that 1,285,739 of its 14,000,000 fixed rate Cumulative Redeemable First Preferred Shares, Series 5 were tendered for conversion today, on a one-for-one basis, into floating rate Cumulative Redeemable First Preferred Shares, Series 6.
The Series 5 Shares will continue to pay on a quarterly basis, for the five-year period beginning on January 30, 2016, as and when declared by the Board of Directors of TransCanada, a fixed dividend at an annualized rate of 2.263 per cent.
The Series 6 Shares will pay a floating rate quarterly dividend for the five-year period beginning on February 1, 2016, as and when declared by the Board of Directors of TransCanada. The dividend rate for the Series 6 Shares for the first quarterly floating rate period commencing February 1, 2016 to, but excluding April 30, 2016, is 2.037 per cent and will be reset every quarter.
TransCanada Corporation is a Calgary based energy transporter company with pipeline throughout North America. Company has a market cap of $34 million and approximately 702.6 million shares outstanding.
Argent Energy Trust (AET.UN:TSX) announced on January 29th that, as a result of the occurrence of Argent's previously announced event of default under its credit facility, this has resulted in early termination of swaps. Accordingly, the amount outstanding under Argent's credit facility has been reduced to approximately US $50.6 million, with a $1.3 million letter of credit also outstanding.
Argent is continuing to explore all alternatives to provide the necessary liquidity and capital to the Trust. Argent can provide no assurance that its efforts will be successful or that capital will be available on satisfactory terms.
Argent also announces the resignation, effective at 5:00 p.m. (Mountain Standard Time) today, of Mr. Richard Louden, Executive Chairman of the Board of Directors of Argent Energy Ltd.
Argent is a Calgary based mutual fund trust focused on acquisition and development of oil and natural gas reserves in the US. Trust has a market cap of $0.32 million and approximately 64 million shares outstanding.
Ecopetrol S.A. (ECP:TSX) announced on January 29th the sale of all of its shares in the company Polipropileno del Caribe S.A. This decision is aligned with Ecopetrol's new strategy and the proceeds of the sale will be used to strengthen the exploration and production businesses, which are the focus of the company.
This sale process will proceed in accordance with Law 226 of 1995, which requires Ecopetrol S.A. to apply for and obtain the approval of the National Government of Colombia.
Ecopetrol is the largest company in Colombia and is an integrated oil & gas company; it is based in Bogota, Columbia. Company has a market cap of $396 million and approximately 44.5 million shares outstanding.
MEG Energy Corp.* (MEG:TSX) announced that it intends to release its financial results for the fourth quarter ended December 31, 2015 on Thursday, February 4, 2016. A conference call will be held to review the financial results at 9:00 a.m. Mountain Time (11:00 a.m. Eastern Time) on Thursday, February 4, 2016.
A recording of the call will be available from 12:00 noon Mountain Time (2:00 p.m. Eastern Time) on February 4, 2016 until 10:00 p.m. Mountain Time (midnight Eastern Time) on March 6, 2016.
MEG Energy Corp. is based in Calgary and is focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta. Company has a market cap of $1.4 million and approximately 225 million shares outstanding.
TransCanada Corporation * (TRP:TSX) announced that the company will hold a teleconference and webcast on Thursday, February 11, 2016 to discuss its fourth quarter 2015 financial results.
Russ Girling, TransCanada president and chief executive officer, Don Marchand, executive vice-president, corporate development and chief financial officer and members of the executive leadership team will discuss the results and company developments at 1 p.m. (MT) / 3 p.m. (ET).
TransCanada is a Calgary based company which operates a network of natural gas pipelines that extends more than 68,000 kilometers (42,100 miles). Company has a market cap of $33 billion and approximately 709 million shares outstanding. |
return to message board, top of board |