 NEWS | New Delhi, IndiaAt some point, the theory goes, Chinese and Indian consumers will begin to feel the pain of rising fuel costs, adjusting their habits to use less gasoline, just as motorists from Japan to America have done. read more » NEWS | Ottawa, CanadaAlberta's oil sands producers and their U.S. refiners face sharply higher costs to reduce greenhouse gas emissions under legislation approved by the U.S. House of Representatives and championed by U.S. President Barack Obama. read more » NEWS | New York, U.S.A.When Jeroen van der Veer took the helm of Royal Dutch Shell five years ago, the company was mired in an accounting scandal involving its reporting of oil and gas reserves, a flap that nearly ended its century-long independence. read more » |
Further Oil Sands News Headlines from NewsMine
OPTI CANADA INC.
Tuesday, June 30, 2009
OPTI Canada Inc. announced that it has successfully repriced its previously announced public offering of common shares. Pursuant to the offering, OPTI will issue 85,720,000 common shares at a price of $1.75 per share, representing a premium of $0.05 per share or approximately 2.9% to OPTI’s previously announced price of $1.70 per share, for total gross proceeds of approximately $150 million. Property: LONG LAKE (NEXEN/OPTI)(Complete Text of Jun 30, 2009 News Release) 
PETROBANK ENERGY AND RESOURCES LTD.
Monday, June 29, 2009
Petrobank Energy and Resources Ltd. has priced the previously announced offering of convertible notes due 2015, with an offering size of US$400 million principal amount. The US$400 million offering size includes the full exercise of the US$100 million over-allotment option. The offering was conducted by private placement and was led by ABG Sundal Collier Norge ASA.
The notes to be issued by Petrobank are convertible into common shares of Petrobank, have an annual coupon of 5.125% and a conversion price of US$38.08 (Cdn$44.01) per Note, representing a conversion premium of 30% to the volume weighted average Petrobank common share price during the two day trading period ending June 26, 2009, of Cdn$33.85. Petrobank has the option to call the Notes after four years, should the price of Petrobank’s common shares exceed 140% of the prevailing conversion price of the Notes. The exchange rate to determine the number of Petrobank common shares underlying the Notes is US$1.1556/Cdn$1.00. Each holder of Notes will have the one-time right, on July 10, 2012, to convert their Notes at the Early Conversion Price. (Complete Text of Jun 26, 2009 News Release)
CONNACHER OIL AND GAS LIMITED
Tuesday, June 16, 2009
Connacher Oil and Gas Limited announced today it has closed the sale of US$200 million face value of 11.75% First Lien Senior Secured Notes due July 15, 2014 at a price of 93.678%, resulting in a yield to maturity of 13.5% and gross proceeds of approximately US$187 million. Connacher, having closed this debt financing, will proceed with the reactivation of the Algar Project. Following completion of a brief pre-start-up organizational period, work is anticipated to commence and the Corporation anticipates that construction at Algar and the drilling of the 15 SAGD well pairs will take approximately 275 days
from commencement of field activities. This will be followed by requisite plant commissioning and steaming of the SAGD well pairs, which will require additional time of approximately 120 days, prior to commencing Algar production and its ramp-up towards full plant capacity of 10,000 bbl/d of bitumen. Property: GREAT DIVIDE (CONNACHER)(Complete Text of Jun 16, 2009 News Release)
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