Key Developments: Nuvista Energy Ltd (NUVSF.PK)
6.50USD
13 May 2013
$0.35 (+5.76%)
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Latest Key Developments (Source: Significant Developments)
NuVista Energy Ltd Reaffirms H1 2013 Production Guidance; Issues Q2, Q4, FY 2013 Production Guidance
NuVista Energy Ltd announced that it reiterates guidance for first half of 2013 and expect to produce in the range of 15,250 Boe/d to 16,250 Boe/d, based on the actual production of 14,903 Boe/d in the first quarter of 2013 and a projected range of 16,000 Boe/d to 17,000 Boe/d in the second quarter of 2013. Growth in production from the Montney program will begin in earnest post spring breakup with fourth quarter 2013 guidance unchanged at 17,500 Boe/d to 18,500 Boe/d, for total year guidance in the range of 16,000 Boe/d - 17,000 Boe/d. Full Article
NuVista Energy Ltd Announces Closing of Offerings
NuVista Energy Ltd announced that it has closed its previously announced public offering of 5,350,000 common shares, including 1,110,000 common shares issued on a "flow-through" basis, with a syndicate of underwriters led by Peters & Co. Limited and including BMO Capital Markets, CIBC, FirstEnergy Capital Corp., RBC Capital Markets Corp., Scotia Capital Inc., and TD Securities Inc. (collectively, the "Underwriters") for gross proceeds of $27.3 million (the "Offering"). NuVista has also closed its previously announced private placement offering of "flow-through" shares to certain directors and officers at a price of $5.89 per share for gross proceeds of $3.5 million and its private placement of 6,120,000 common shares to Caisse de depot et placement du Quebec and 3,440,000 common shares to Ontario Teachers' Pension Plan at a price of $4.90 per common share for gross proceeds of $46.8 million. Full Article
NuVista Energy Ltd Announces $95 Million Of Equity Financing And Expanded Wapiti Montney Capital Program
NuVista Energy Ltd announced that it has entered into agreements to issue a total of 19,000,000 common shares including 1,700,000 common shares to be issued on a flow-through basis for gross proceeds of $94,783,000(the Offerings). NuVista has entered into letters of intent with three investors to issue 13,060,000 common shares, at an issue price of $4.90 per share for gross proceeds of $63,994,000.NuVista is also announced that an additional strategic partner, Caisse de dépôt et placement du Québec intends to purchase approximately 6,120,000 common shares. NuVista has also entered into a bought deal agreement with a syndicate of underwriters led by Peters & Co. Limited and including BMO Capital Markets, CIBC World Markets Inc., FirstEnergy Capital Corp., RBC Capital Markets Corp., Scotia Capital Inc., and TD Securities Inc. (collectively, the Underwriters) for the issuance of an additional 4,240,000 common shares at an issue price of $4.90 per share for gross proceeds of $20,776,000. NuVista has also entered into an agreement with the Underwriters to sell 1,110,000 common shares on a flow-through basis in respect of Canadian exploration expense (Flow-Through Shares) at a price of $5.89 per share on a guaranteed agency basis for gross proceeds of $6,537,900. And finally, NuVista also intends to complete a private placement with certain directors and officers for an additional 590,000 Flow-Through Shares at a price of $5.89 per share for gross proceeds of $3,475,100. Full Article
NuVista Energy Ltd Lowers FY 2012 Production Guidance; Issues Q4 2012 Production Guidance
NuVista Energy Ltd announced that for fiscal 2012, it expects average production guidance between 22,000 Boe/d and 22,500 Boe/d. For the fourth quarter of 2012, it expects production forecast between 16,500 Boe/d and 17,000 Boe/d. Full Article
NuVista Energy Ltd Announces Closing of Asset Dispositions
NuVista Energy Ltd announced that it has closed its previously announced sale of three property packages for gross proceeds of $236 million. The dispositions include a large portion of NuVista's W5 natural gas assets plus selected W4 heavy oil assets. Specific assets in the dispositions include: Ferrier, Alder Flats and Easyford in the W5 operating area; and Chauvin, Auburndale and Wildmere in the W4 operating area. Proceeds from the dispositions were used to reduce bank indebtedness. Full Article
NuVista Energy Ltd Issues FY 2012 Production Guidance
NuVista Energy Ltd announced that for fiscal 2012, average production guidance is between 23,000 Boe/d and 24,000 Boe/d, prior to the impact of potential divestitures. Full Article
NuVista Energy Ltd. Reaffirms FY 2011 Production Guidance
NuVista Energy Ltd. announced that its production guidance for fiscal 2011 remains unchanged with production forecast to average between 25,000 Boe/d and 26,000 Boe/d. Full Article
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