Conventional

  • October 3, 2016 – DualEx Energy International Inc. has entered into an Alberta oil and gas asset purchase and sale agreement, and has also entered into two private Alberta oil and gas company share purchase agreements.
  • October 3, 2016 – Journey Energy Inc. ("Journey") announced the closing of the disposition of an aggregate of 16.36 million common shares and restricted voting shares in the capital of Journey by Infra-PSP Partners Inc. pursuant to a share purchase agreement dated September 15, 2016.
  • October 6, 2016 – Velvet Energy Ltd., a private oil and liquids-rich natural gas producer in the Deep Basin of Alberta, has completed a private placement of US$125 million of senior secured second lien notes due 2023.
  • October 7, 2016 – Devon Energy Corp. has completed the sale of its 50% ownership interest in Access Pipeline to Wolf Midstream Inc., a portfolio company of Canada Pension Plan Investment Board, for C$1.4 billion.
  • October 7, 2016 – Alberta Investment Management Corporation has successfully entered into a strategic financing relationship with Journey Energy Inc. Journey Energy Inc. has completed a private placement of an aggregate of 30,000 units to Alberta Investment Management Corporation at a price of $1,000 per unit for aggregate gross proceeds of $30 million.
  • October 11, 2016 – Canbriam Energy Inc. purchased the British Columbia assets of Northpoint Resources Ltd. through the court appointed receiver for cash consideration of $7.5 million.
  • October 12, 2016 – SemCAMS entered into a 15-year agreement with NuVista Energy Ltd. to proceed with building a project that will have the capacity to process up to 200 mmcf per day of raw sour gas and 20,000 bbls per day of condensate in the Wapiti area of Alberta.
  • October 18, 2016 – Suncor Energy Inc. and Mikisew Cree First Nation signed a participation agreement for the purchase by Mikisew Cree First Nation of a 14.7% interest in Suncor's East Tank Farm Development. Under the terms of the agreement, Mikisew Cree First Nation will pay 14.7% of the actual capital cost of the East Tank Farm Development once the assets become operational, which is currently anticipated to be in the second quarter of 2017.
  • October 21, 2016 – Tourmaline Oil Corp. has entered into an agreement with Shell Canada Energy to acquire strategic assets in the Alberta Deep Basin and the northeast B.C. Montney Complex for total consideration of $1.369 billion (before customary adjustments) including cash consideration of $1 billion and the remainder in Tourmaline common shares.
  • October 24, 2016 – Logan International Inc., which manufactures and sells drilling and production tools, announced that it acquisition by Rubicon Oilfield International UK Acquisition Co Limited, a wholly-owned subsidiary of Rubicon Oilfield International Holdings, L.P., by way of an arrangement under the Business Corporations Act (Alberta), has been completed. All of the outstanding common shares of Logan International Inc. were acquired for $1.49 per share.
  • October 27, 2016 – Husky Energy Inc. closed several outstanding Western Canada asset sales, in line with its objective to build a more capital efficient business with reduced sustaining capital requirements. In aggregate, about 27,000 boe a day, including royalty interests, has been sold in 2016 for gross proceeds of $1.3 billion.
  • October 31, 2016 – Suncor Energy Inc. announced it has reached an agreement to sell its Petro-Canada Lubricants Inc. business to a subsidiary of HollyFrontier Corporation for $1.125 billion, subject to customary closing adjustments.
  • October 31, 2016 – RMP Energy Inc. announced this morning the transformational sale of its Ante Creek asset for cash consideration of $114.3 million, subject to normal and customary closing adjustments.
  • October 31, 2016 – Vertex Resource Group Ltd. announced it has acquired Red Giant Energy Services Ltd., an oilfield service company specializing in storage, management and logistics of oilfield fluids in the Western Canadian Sedimentary Basin.
  • October 31, 2016 – Lightstream Resources Ltd. announced that the first phase of the sale procedures under the Companies' Creditors Arrangement Act, in which non-binding indications of interest were received and considered, has concluded and, accordingly, qualified bidders will move to the second phase of the sale procedures. The company also confirmed that its common shares were delisted from trading on the Toronto Stock Exchange on October 27, 2016.
  • General Electric Co. ("GE") and Baker Hughes Inc. announced that the companies have entered into an agreement to combine GE's oil and gas business and Baker Hughes to create an oilfield technology provider with service and equipment capabilities and $32 billion of combined revenue and operations in more than 120 countries.

Midstream

  • October 20, 2016 – AltaGas Ltd. announced that its board approved an investment decision for the construction, ownership and operation of the North Pine facility, to be located approximately 40 kilometres northwest of Fort St. John, B.C. AltaGas will be constructing the North Pine facility with two NGL separation trains each capable of processing up to 10,000 bbls per day of propane plus NGL mix (C3+), for a total of 20,000 bbls per day. Site preparation for the first NGL separation train is expected to begin in the first quarter of 2017, with an expected commercial onstream date in the second quarter of 2018. The second 10,000 bbl-per-day NGL separation train is expected to follow after completion of the first train.

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