Post Tagged with: "Pipestone"

Blackbird, Pipestone Combination Gets Thumbs Up  

Blackbird, Pipestone Combination Gets Thumbs Up  

Alberta-based Blackbird Energy Inc. (stock ticker TSX-V: BBI) shareholders have approved the strategic combination of Blackbird and Pipestone Oil Corp. by a majority of over 99% of votes cast. Blackbird is focused on the condensate and liquids-rich Montney fairway at Pipestone/Elmworth, near Grande Prairie, Alberta. At a special meeting, its shareholders also approved the continuance of Blackbird from British Columbia into Alberta, which was necessary for the transaction to proceed. The transaction will result in the combination of two adjacent and contiguous Pipestone Montney land bases under a single company that will operate under the name Pipestone Energy Corp. Source: Blackbird Energy The arrangement will result in Canadian… Login or click here to subscribe Username or E-mail Password Remember Me     Forgot Password

NuVista Energy Closes Pipestone Acquisition, Updates Ops

NuVista Energy Closes Pipestone Acquisition, Updates Ops

NuVista Energy Ltd. Announces Closing of Pipestone Asset Acquisition and Provides Operational Update

NuVista Energy Bulks Up Montney Position with Acquisition of Pipestone Asset from Cenovus for $625 Million

NuVista Energy Bulks Up Montney Position with Acquisition of Pipestone Asset from Cenovus for $625 Million

NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX: NVA) is pleased to announce that it has entered into an agreement to acquire Cenovus Pipestone Partnership which holds assets in the Pipestone area of Northwest Alberta (the “Acquired Business”) for $625 million (the “Acquisition”) before closing adjustments. The assets of the Acquired Business are situated primarily in the premium core of the condensate-rich Alberta Triassic Montney fairway and on 35,250 net acres of land featuring four layers of Montney development. The assets of the Acquired Business represent a 29% increase to NuVista’s current Montney land position. The Acquired Business includes 9,600 Boe/d of production and significant infrastructure. The Acquisition will be funded with NuVista’s expanded credit facilities, a $214 million private placement (the “Private Placement”) of subscription receipts (the “Subscription Receipts”) and a concurrent $170 million prospectus offering (the “Prospectus Offering” and together with the Private Placement, the “Financings”) of Subscription Receipts.  A[Read More…]

Cenovus reaches agreement to sell Pipestone business for $625 million

Cenovus reaches agreement to sell Pipestone business for $625 million

Cenovus reaches agreement to sell Pipestone business for $625 million

Blackbird Energy Inc. (TSX-V: BBI) 2017 Year End Results

Blackbird Energy Inc. (TSX-V: BBI) 2017 Year End Results

2017 highlights Equity financing – closed an upsized and over-subscribed marketed public offering for total gross proceeds of $84.8 million on March 14, 2017 Reserves – reported Pipestone/Elmworth Montney proved plus probable (2P) reserves of $395 million Revenue – $6.2 million during the year ended July 31, 2017, with $48.8 million of working capital surplus Q4 and 2017 production: While on production during the quarter, Blackbird produced 5.5 Mmcf/d of natural gas, 594 bbls/d of condensate, and 88 bbls/d of NGLs for total production of 1,589 BOEPD. While on production during the year, Blackbird produced 5.2 Mmcf/d of natural gas, 665 bbls/d of condensate, and 78 bbls/d of NGLs for total production of 1,609 BOEPD. Gas processing: In November, Blackbird Energy Inc. executed an agreement for firm processing of raw gas produced from the company’s condensate rich Pipestone/Elmworth Montney play. The agreement has an initial term of five years with[Read More…]

Blackbird Energy Appoints Chief Financial Officer

Blackbird Energy Appoints Chief Financial Officer

Blackbird Energy Inc. (ticker: BBI) has appointed Karen Minton as its CFO effective immediately, the company announced yesterday. In a press release Blackbird outlined Minton’s almost two decades of experience in senior financial roles in oil and gas and alternative energy. Prior to her appointment as Blackbird CFO, Minton was CFO at Lighthouse Oil & Gas. Previously she was corporate controller of Equal Energy Ltd. and VP finance and CFO of Dynetek Industries Ltd. Minton obtained her Chartered Accountant designation in 1993 and holds a Bachelor of Commerce degree from the University of Calgary. “I am delighted to have Karen join the Blackbird team … to oversee critical steps in Blackbird’s growth, including finalizing significant gas handling agreements and securing non-dilutive funding as the company transitions to full development,” Blackbird CEO Garth Braun said in a statement. In connection with her appointment, Minton has been granted 1,000,000 stock options exercisable at[Read More…]

UPDATE: Blackbird Energy Receives Capital for 12 Well Program

UPDATE: Blackbird Energy Receives Capital for 12 Well Program

Update: Blackbird acquires additional acreage in the Montney Blackbird Energy Inc. announced that it has entered into a binding agreement with Knowledge Energy Inc. for the acquisition of two gross sections (two net) of Montney rights for total consideration of 1,923,077 Blackbird common shares. These lands are contiguous with Blackbird’s existing lands and will, upon closing, increase Blackbird’s Montney rights at Elmworth/Pipestone to 116 gross sections (100.9 net). Assuming the same $0.55 per common share value from Blackbird’s earlier offering, the value of the shares is approximately $1.1 million. Blackbird Energy is sitting on 137 years of inventory with upside potential Calgary-based Blackbird Energy (ticker: BBI) closed its public offering for 112.5 million common shares for $0.55, 29.6 million shares issued on a “CEE flow-through” basis at $0.64 per share and 6.8 million shares issued on a “CDE flow-through” basis at $0.59 per share, for aggregate gross proceeds of $84.8[Read More…]

March 17, 2017 - 10:21 am 360 Profile Member
UPDATE: Blackbird Energy Receives Capital for 12 Well Program

UPDATE: Blackbird Energy Receives Capital for 12 Well Program

Update: Blackbird acquires additional acreage in the Montney Blackbird Energy Inc. announced that it has entered into a binding agreement with Knowledge Energy Inc. for the acquisition of two gross sections (two net) of Montney rights for total consideration of 1,923,077 Blackbird common shares. These lands are contiguous with Blackbird’s existing lands and will, upon closing, increase Blackbird’s Montney rights at Elmworth/Pipestone to 116 gross sections (100.9 net). Assuming the same $0.55 per common share value from Blackbird’s earlier offering, the value of the shares is approximately $1.1 million. Blackbird Energy is sitting on 137 years of inventory with upside potential Calgary-based Blackbird Energy (ticker: BBI) closed its public offering for 112.5 million common shares for $0.55, 29.6 million shares issued on a “CEE flow-through” basis at $0.64 per share and 6.8 million shares issued on a “CDE flow-through” basis at $0.59 per share, for aggregate gross proceeds of $84.8[Read More…]