- February 25, 2016 – Spartan Energy Corp. entered into a bought deal financing agreement with a syndicate of underwriters led by Peters & Co. Limited. Spartan will issue 31,122,500 common shares at a price of $2.41 for gross proceeds of $75 million.
- February 25, 2016 – Boulder Energy Ltd. entered into a definitive arrangement agreement pursuant to which ARC Energy Fund 8 will acquire all of the issued and outstanding common shares of Boulder for cash consideration of $2.59 per share, for an aggregate value of approximately $268 million. ARC Energy Fund 8 is a private equity fund raised and advised by ARC Financial Corp.
- February 25, 2016 – The British Columbia government is expanding its Infrastructure Royalty Credit Program (IRCP) for three years. By offering $120 million in royalty credits annually, the province intends to provide companies with a longer timeframe to work new capital expenditures into their plans. Expanding the program will help to create certainty and improve the province's ability to attract new investment in light of economic conditions.
- February 2, 2016 – Tourmaline Oil Corp. has purchased about CDN$183 million in assets from the Minehead-Edson-Ansell area of the Alberta Deep Basin. It will accommodate the acquisition by reducing its current 2016 EP capital program by $175 million to $925 million.
- February 23, 2016 – With its offer having expired, Suncor Energy Inc. announced that 84.2 per cent of Canadian Oil Sands Limited shares equating to approximately 408,097,416 common shares and accompanying rights have been tendered to Suncor's offer. Suncor expects to complete a subsequent acquisition transaction to acquire the remaining COS shares.
- February 3, 2016 – Enerplus Corporation has completed one of the sales it announced in January 2016, of assets located around Ansell, Minehead and Hanlan-Robb areas, for $193 million, consisting of operated and non-operated properties and facilities.
- February 1, 2016 – Alberta announced its new Petrochemicals Diversification Program. The Program will encourage companies to invest in the development of new Alberta petrochemical facilities by providing royalty credits. Under the Program, qualifying petrochemical projects will be able to trade royalty credits to producers for feedstock, which in turn will be used by producers to offset royalties payable to the Alberta government. The program is expected to support the construction of several petrochemical facilities that use methane or propane to produce the materials for products that include plastics, detergents and textiles.
- February 25, 2016 – Enbridge Inc. has entered into an agreement with a group of Canadian and United States financial institutions to issue 49.14 million common shares from treasury, on a bought deal basis, for gross proceeds of approximately CDN$2 billion. Proceeds will be used to pay down short term indebtedness and fund pending investment in capital projects. The equity raised through the offering is expected to be sufficient to fulfill equity funding requirements for Enbridge's consolidated commercially secured growth program through the end of 2017.
- February 25, 2016 – AltaGas Ltd. announced this morning that the DC LNG Consortium, comprised of AltaGas Idemitsu Joint Venture Limited Partnership, EDF Trading Limited and EXMAR NV has decided to halt development of the DC LNG project due to adverse economic conditions and worsening global energy price levels. The project was planned near Kitimat, British Columbia.
- February 23, 2016 – TransCanada Corporation expanded its presence in Québec with a larger corporate provincial office located in Montréal. This new office will be home to over 40 employees from different disciplines working on the Energy East pipeline project and other businesses on behalf of the company.
Alternative / Green
- February 3, 2016 – Canadian Prime Minister Justin Trudeau Alberta Premier Rachel Notley issued a joint statement following their meeting in Edmonton, Alberta. Their joint statement focused on joint federal/provincial action in three principal areas: jobs and the economy, clean growth and climate change, and energy infrastructure and market access. In the statement, Prime Minister Trudeau committed to fast-tracking the deployment of $700 million in previously committed federal infrastructure funds. Trudeau also committed to working with Alberta to combat climate change and expand access to market for Alberta's oil and gas.
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