+ BMO Bank of Montreal agreed to acquire Britain’s F & C Asset Management PLC for $1.2 billion
+ Cameco Corp. soles its stake 31.6% in Bruce Power to Borealis Infrastructure div. of OMERS for $450 million
+ Canadian Dollar closed below 90 cents yesterday; US$0.8996 .. lowest since July 2009
+ CNRL top operator in Canada for 2013; drilled 1.56 million meters (1,251 wells)
+ Connacher Oil and Gas Limited announced its initial 2014 CapEx Budget is $50 million
+ ConocoPhillips Alaska Natural Gas Corp. is seeking a 40bcf LNG export permit from the state of Alaska
+ Enbridge Inc. announced plans to expand the Sanday Creek Terminal at ChristinaLake at a cost of $200 million
+ Hudson’s Bay Co. selling its downtown Toronto flagship store, plans to reoll other assets into a REIT
+ Inter Pipeline Ltd. announces its 2014 CapEx Budget is $1.31 billion
+ Keystone XL pipeline project moved a step forward; U.S. State Department environmental study concluded there WILL NOT be an impact on global warming … next steps are review period, sign-off by Secretary of State, then sign off by President Obama - - - or his successor … stay tuned
+ National Energy Board recommended approval of Enbridge’s Edmonton to Hardisty Pipeline Project
+ OPEC says it will accommodate new production by Iran, Libya and Iraq within its membership, other members will pump less
+ Packers Plus Energy Services Inc. closed its acquisition of Eagle Downhole Solutions LLC and CMC Machine Works LLC
+ Phillips 66 is considering adding a condensate splitting capacity at its Sweeny/Freeport, Texas facility; part technology solution, part legal one so condensate can be shipped back to Canada as bitumen diluent
+ PSAC (Petroleum Services Association of Canada) revised its forecasted number of wells to be drilled in 2014 to 10,930 … up by 130 wells from earlier forecast
+ Royal Dutch Shell plc agreed to sell a minority interest in its Brazil offshore oil project to Qatar Petroleum for US$1 billion
+ Royal Dutch Shell plc engaged advisors to find a buyer for its Ho-Ho (Houston to Houma) pipeline – estimated to fetch US$ 1 billion
+ Royal Dutch Shell plc announced it will stop its Alaska program in favour of other priorities
+ Statoil Canada Ltd. and PTT Exploration and Production (PTT) have agreed to split their interest in Kai Kos Dehseh (KKD) SAGD project; Statoil will be operator and 100% owner of KKD, PTT will own 100% of Thornbury, Hangingstone and South Leismer areas. Statoil will pay US$200 million to PTT
+ Sterling Resources Ltd. closed the sale of a portion of the Midia Block in the Black Sea for US$ 29.25 million
+ Suncor Energy put its Montney natural gas development work on hold while they evaluate options to monetize the asset
+ Tamarack Valley Energy Ltd. announced its 2014 CapEx Budget is $90 million
+ TerraVest Capital Inc. agreed to acquire Gestion Jerico Inc. for $54 million
+ U.S. Federal Reserve announced they will reduce their monthly ‘tapering’ purchase of bonds by US$10 billion to US$ 65 billion
+ Weatherford International Ltd. reducing global workforce by 7,000 jobs due to reduced earnings
SHAREHOLDER MEETINGS
+ Feb 11; Bank of Nova Scotia, Annual Meeting of Shareholders, Kelowna
+ Feb. 19; Caspian Energy Inc., Special Meeting of Shareholders, Calgary
+ Feb. 26; Royal Bank of Canada, Annual Meetings of Common Shareholders, Toronto
“I didn’t go out looking for negative characters; I went out looking for people who have a struggle and a fight to tackle. That’s what interests me.” – Philip Seymour Hoffman
“To be a leader, you have to make people want to follow you, and nobody wants to follow someone who doesn’t know where he is going.” – Joe Namath
+ Emerald Bay Energy Inc. closed $1.2 million debt financing
+ Forent Energy Ltd. closed $485,000 equity financing
+ HealthLease Properties REIT secured $250 million credit facility
+ Kingsway Financial Services Inc. closed US$ 6.6 million equity financing
+ Long Run Exploration Ltd. closed $75 million unsecured convertible debt financing
+ Madalena Energy Inc. is on the market to raise $20 million in equity
+ MINT Income Fund closed $101.4 million warrants offering
+ Montana Explorartion Corp. is on the market to raise $3,250,000 in convertible debt
+ MRF 2014 Resource Limted Partnership is on the market to raise $75 million
+ NCE Resources Group is on that market to raise $75 million in flow-through financing
+ Oando Energy Resources Inc. is on the market to raise US$50 million in equity
+ Oando Energy Resources Inc. secured US$ 800 million in debt financings
+ Tamarack Valley Energy Ltd. is on the market to raise $30.1 million in equity
NEWS TODAY February 4 / 2014
+ American Energy Partners closed is acquisition of 130,000 acres in the Utica Shale from Hess Corp, Exxon Mobil Corporation and Paloma Partners; price not disclosed
+ Aveda Transportation and Energy Services Inc. closed its acquisition of M&K Hotshot Trucking Inc. and M&K Rig Service Inc.; US$ 38 million plus future considerations
+ Halliburton and Newalta Corporation formed a JV to offer innovated liquid waste solutions on the WesternCanadianSedimentaryBasin
+ Husky Energy announced it will go forward with $300 million expansion of its heavy crude processing capacity at its Lima, Ohio refinery
+ Hyperion Exploration Corp. closed its sale of non-core ChipLake assets for $3.4 million
+ Koch Oil Sands Operating ULC filed application for a new in-situ ‘Dunkirk’ SAGD project located 76 km. west of Fort McMurray
+ Lone Pine Resources Inc. completed its restructuring under CCAA protection – debt reduced from $395 million to $90 million
+ Storm Resources Ltd. closed its acquisition of Umbach-Nig area assets in the Montney for $87.9 million
+ Tuscany International Drilling Inc. and related companies filed for Chapter 11 Bankruptcy protection in Delaware to start a restructuring process
+ U.S. government wrestling with debt-crisis again, at risk of default by end of month … tic toc
+ Walmart Canada will add 35 supercentre projects over next 24 months; investing $500 million in new store projects, distribution facilities and expansion of fresh food capacity
+ Government of Alberta transferring title on Fort McMurray expansion lands (Saline Creek Plateau and Parson Creek) to Regional Municipality of Wood Buffalo for re-sale through the Regional Municipality of Wood Buffalo Land Exchange Agreement for $131.8 million; deal details
+ Cameco Corp. soles its stake 31.6% in Bruce Power to Borealis Infrastructure div. of OMERS for $450 million
KUDOS
+ to Cenovus Energy In.c – donated $900,000 to NorthlandSchool Division No. 61 for literacy initiative and career/technology studies
+ to ATCO – its EPIC fundraising project raised $4.2 million to aid services to persons with brain injuries
