Apache looking for buys in Calgary

Article Abstract:

Apache Corp., an energy firm based in Houston, TX, is planning to invest $750 million into oil patch assets in Canada with a vast array of offers submitted by companies and investment bankers in Western Canada. The energy company is known for its exploration and production activities in the natural gas liquids, crude oil, and natural gas industries. Apache posted $155 million in earnings based on $1.2 billion in revenues in 1997. Apache vice-president of business development Lisa Floyd indicated that Apache may even opt to acquire a whole company rather than just assets in Canada.

Comment:

Is planning to invest $750 million into oil patch assets in Canada with a vast array of offers already submitted

Acquisitions & mergers, Texas, Apache Corp., Article

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Blue Range investors warned of rising debts

Article Abstract:

Blue Range Resource Corp may not be able to pay around C$272 million in obligations and claims. The company has announced that its debts had climbed by 16% from earlier estimates of C$233.9 million to C$273 million.;The increase in debt has been attributed to the 65% increase in claims against the company for gas marketing contracts. Blue Range is planning to sell off its properties with estimated reserve values of C$217.7 million to $264 million to pay off its debts.;

Canada, Use of Funds, Blue Range Resource Corp.

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