Shareholders okay Petrobank, PetroBakken split

Shareholders of Petrobank Energy & Resources Ltd. and its 56%-owned subsidiary PetroBakken Energy Ltd., both of Calgary, have approved a reorganization in which the companies will emerge as separate entities (OGJ Online, Oct. 30, 2012).

PetroBakken is currently the second largest landowner in Saskatchewan’s Bakken play. After a complex exchange of stock shares, a new company called New Petrobank will own and operate Petrobank’s heavy oil business.

The companies expected prompt government approvals and an effective date of Dec. 31 for the transaction.

 

Related Articles

ExxonMobil replaces 103% of 2013 production

02/21/2014 ExxonMobil Corp. replaced 103% of its oil and natural gas production last year with additions to reserves, mostly of crude oil and other liquids.

Hydraulic fracturing stuck in New York policy vacuum

02/01/2014 Persistent institutional indecisiveness by elected officials in New York State has placed the state in the position of not having a statewide polic...

Contact hails Kakwa Montney tight gas-liquids well results

10/16/2013 Contact Exploration Inc., Calgary, said completion of its fourth operated horizontal Middle Montney formation tight gas-liquids well extends the sc...

Watching Government: BC Premier's energy stance

10/14/2013 British Columbia will not budge on its requirements proposed heavy oil export projects must meet, Premier Christy Clark said on Oct. 4. But that do...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected