Post Tagged with: "Pipestone Oil"

Blackbird Energy Announces Record Results

Blackbird Energy Announces Record Results

Calgary-Based Blackbird Energy Inc. (stock ticker: BBI) announced record financial and operational results for the quarter ended October 31, 2018.   Highlights from the Q1 2019 Results: Petroleum and Natural Gas Sales $7.4 million ($46.31/boe) of petroleum and natural gas sales during the three months ended October 31, 2018. Represents a 186% increase from the comparative three months ended October 31, 2017. Realized condensate and oil prices of $76.57/bbl for the quarter. Approximately 72% of total revenues were attributable to high-quality liquids production during the quarter.   Production During the three months ended October 31, 2018, the Company achieved a record average total production rate of 1,736 boe/d comprised of 47% liquids. During the quarter: Produced 5.5 mmcf/d of natural gas 723 bbls/d of condensate and oil 98 bbls/d of NGLs 2 boe/d of non-core production. Produced for approximately 84 days during the first quarter of 2019 compared to 92[Read More…]

December 27, 2018 - 4:22 pm Canada, Closing Bell Story, International
Blackbird Energy, Pipestone Oil Corp. Announce Merger and $310 Million in Equity and Debt Financings

Blackbird Energy, Pipestone Oil Corp. Announce Merger and $310 Million in Equity and Debt Financings

October 30, 2018 18:00 ET | Source: Blackbird Energy Inc CALGARY, Alberta, Oct. 30, 2018 (GLOBE NEWSWIRE) — Blackbird Energy Inc. (“Blackbird”) (TSX-V: BBI) and Pipestone Oil Corp. (“Pipestone Oil”) are pleased to announce that they have entered into an agreement (the “Arrangement Agreement”) dated October 29, 2018 that provides for the combination of Blackbird and Pipestone Oil (the “Transaction”). Concurrent with the Transaction, Blackbird and Pipestone Oil have entered into agreements with certain of their existing shareholders who have committed to common equity financings totaling $111.0 million and Pipestone Oil has arranged $198.5 million of debt financing (collectively, the “Financings”). The Transaction and Financings will result in the strategic combination of two adjacent and contiguous Pipestone Montney land bases under a single well-capitalized, high growth company that will operate under the name Pipestone Energy Corp. (“Pipestone Energy”). Pipestone Energy will be the operator of a pure-play condensate-rich Montney asset in the Pipestone[Read More…]