Highwood Oil Company Ltd. is pleased to announce that it is changing its name to Highwood Asset Management Ltd. Name Change To better reflect the Company's diversified asset base and potential future opportunities, the Company found it suitable to rename itself Highwood Asset Management Ltd. The Name Change was unanimously approved by the Company's shareholders at the June 17, 2021 Annual General Meeting. The Name Change [...]
Highwood Oil Company Ltd. is pleased to provide the below updates. Independent Director Appointment The Board of Directors is pleased to have appointed Mr. Ryan Mooney to the Company's Board of Directors as an Independent Director. Mr. Mooney brings with him an extensive resume and experience in the energy sector and capital markets, having worked in senior roles in industry, research, institutional sales and investment [...]
Highwood Oil Company Ltd. is pleased to announce financial and operating results for the quarter ended March 31. The Company also announces that its unaudited financial statements and associated Management's Discussion and Analysis for the quarter ended March 31, 2021. Q1 2021 Results and 2021 Activity Highwood announced the signing of a definitive agreement on November 13, 2020 to vend the Red Earth assets to an Alberta [...]
Highwood Oil Company Ltd. is pleased to announce financial and operating results for the three months and twelve months ended December 31, and to provide the results of its independent oil and gas reserves evaluation as of December 31, prepared by GLJ Petroleum Consultants. Associated Management's Discussion and Analysis dated April 29, 2021 and audited financial statements as at and for the year ended December 31, 2020 [...]
Highwood Oil Company Ltd. is pleased to provide the below updates. Operational Update As previously announced on November 13, 2020, Highwood has closed the divestiture of its Red Earth assets and the related decommissioning liability of approximately $35 million, for sale proceeds of $2 million in cash . The disposition of Red Earth was to Blue Sky Resources Ltd., an arm's-length Alberta based, private oil and gas [...]
Highwood Oil Company Ltd. announces the closing of its previously announced Clearwater disposition and revisions to the Company's credit agreement. Closing of Clearwater Disposition Highwood is pleased to announce the successful closing of the Clearwater Disposition to Tamarack Acquisition Corp., a wholly owned subsidiary of Tamarack Valley Energy Ltd., for cash consideration of $40.8 million. Proceeds will be used to [...]
Highwood Oil Company Ltd., is pleased to announce that, as a result of its strategic alternatives review process, it has today entered into a definitive agreement with an arm's length purchaser, Tamarack Valley Energy Ltd. to divest of the Company's Clearwater assets for cash consideration of $40.8 million . The effective date of the Divestiture is November 1, 2020. The Divesture is expected to close on December 21, 2020 [...]
Highwood Oil Company Ltd., is pleased to announce financial and operating results for the quarter ended September 30, 2020. The Company also announces that its unaudited financial statements and associated Management's Discussion and Analysis for the quarter ended September 30, 2020, can be found at www.sedar.com and www.highwoodoil.com. Highlights Average production of 1,585 bbl/d of oil in the third quarter of 2020, an [...]
Highwood Oil Company Ltd., is pleased to announce that it has entered into an agreement with an arm's-length Alberta based, private oil and gas exploration and production company to divest of the Company's Red Earth field for a total transaction value of $2 million cash, prior to customary closing adjustments . As part of the Divestiture, the purchaser paid a $200,000 non-refundable deposit into trust to be applied [...]
Nov. 2, 2020 /CNW/ - Highwood Oil Company Ltd. announces amendments to the Company's reserve-based credit facility . Credit Facility Amendment The Company's Credit Facility has been amended with the maturity date of Term Facility A extended to December 15, 2020. The Company will also continue to work with its lender to explore all options needed to satisfy the conditions of the Credit Facility. Warnings Neither the TSX [...]
Highwood Oil Company Ltd. today announces that its Board of Directors has initiated a process to identify, examine and consider strategic and financial alternatives available to the Company with the ultimate view of enhancing shareholder value. Strategic Review Strategic and financial alternatives may include, but are not limited to, the sale of the Company, investment in, merger or other business combination [...]
Highwood Oil Company Ltd. announces amendments to the Company's reserve-based credit facility . Credit Facility Amendment The Company's Credit Facility has been amended with the maturity date of Term Facility A extended to November 30, 2020. Should oil pricing improve the Company would aim to extend the revolving periods prior to the next renewal date. The Company will also continue to work with its lender to explore all [...]
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