CALGARY, Feb. 2, 2018 /CNW/ - Journey Energy Inc. (JOY – TSX) ("Journey" or the "Company") announces that it has today completed the acquisition of 12.7 million of its outstanding shares from its largest shareholder. Share Repurchase Journey has today closed the previously announced acquisition of 12.7 million common shares from MIE Maple Investments Limited ("MIE") at a price of $1.68 per share (the "Share Repurchase"). The shares repurchased have been returned to treasury for [Read more]
Headlines
Experts question Alberta power threats to B.C. as pipeline politics intensify
CALGARY - Alberta Premier Rachel Notley's promise to suspend electricity talks with British Columbia over a pipeline dispute may not carry much weight, according to energy experts. Notley made the commitment Thursday in protest to B.C.'s announcement that it would at least temporarily restrict increases in diluted bitumen shipments, creating more uncertainty for Kinder Morgan Inc.'s delayed Trans Mountain expansion project. The amount of power in question is, however, relatively [Read more]
Canada Weekly Rig Count Up 4 to 342
Western Canada’s fleet of drilling rigs went up by 4 rigs to the current count of 342 actively drilling rigs according to data collected by Baker Hughes for the week of February 2nd. From one week ago, Alberta rig counts decreased from 232 to 229, the Saskatchewan rig count increased from 69 to 75. Oil drilling went from 220 to 234; gas rigs went down from 118 to 108. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. drillers add oil rigs for second consecutive week
U.S. energy companies added oil rigs for a second week in a row as crude prices hovered near their highest levels since 2014, prompting drillers to return to the well pad. Drillers added 6 oil rigs in the week to Feb. 2, bringing the total count up to 765, the highest level since August 2017, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. The U.S. rig count, an early indicator of future output, is much higher than a year ago [Read more]
Vertex Resource Group Ltd. Acquires HMA Land Services
Acquisition Expands Vertex's Geographic Expertise in Large Pipeline, Utility and Mineral Land Projects across Canada. This is Vertex's second acquisition thus far in 2018. SHERWOOD PARK, AB, Feb. 1, 2018 /CNW/ - (TSX.V:VTX) - Vertex Resource Group Ltd. ("Vertex") is pleased to announce that it has acquired the business of HMA Land Services ("HMA"). The expertise of the HMA team will further strengthen Vertex's professional land consulting practice, with particular focus on large pipeline, [Read more]
Chevron Reports Fourth Quarter Earnings of $3.1 Billion, Annual Earnings of $9.2 Billion
Strong cash flow drives dividend increase of $0.04 per share Reserves replacement tops 150 percent Production grows 5 percent; 4 to 7 percent growth targeted for 2018 SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) today reported earnings of $3.1 billion ($1.64 per share – diluted) for fourth quarter 2017, compared with $415 million ($0.22 per share – diluted) in the 2016 fourth quarter. Included in the quarter were non-cash provisional tax benefits of $2.02 billion [Read more]
Imperial announces 2017 financial and operating results
Full-year earnings of $490 million; $1,056 million excluding upstream non-cash impairment charges Progressing work to increase Kearl annual average gross production to 240,000 barrels per day Returned more than $1.1 billion to shareholders through share purchases and dividends CALGARY, Feb. 2, 2018 /CNW/ - Fourth quarter Twelve months millions of Canadian dollars, unless [Read more]
Alberta restaurant no longer serving B.C. wines in protest over pipeline plan
FORT MCMURRAY, Alta. - A restaurant in Alberta's oilsands hub is taking its own stand against the B.C. government's plan to obstruct an expansion of the Kinder Morgan pipeline. Asti Trattoria Italiana in Fort McMurray says that, effective immediately, it will no longer serve any wines from British Columbia. It says it supports Alberta's oil industry and its oilsands workers. The restaurant admits that removing eight bottles from its list might not do much, but it hopes [Read more]
‘That pipeline is going to get built:’ PM dismisses B.C.’s Trans Mountain move
EDMONTON - Alberta Premier Rachel Notley says her government is suspending talks with British Columbia on the purchase of electricity from the western province. It's the first step in Alberta's fight against the B.C. government's proposal to obstruct the Kinder Morgan oil pipeline expansion project by banning increased shipments of diluted bitumen to the province's coast. Up to $500 million annually for B.C.'s coffers hangs in the balance, Notley said. "We're prepared to [Read more]
Strategic Oil & Gas Ltd. Drills Its First Two Monobore Muskeg Horizontal Wells and Provides Debenture Interest Update
CALGARY, Alberta, Feb. 01, 2018 (GLOBE NEWSWIRE) -- Strategic Oil & Gas Ltd. (“Strategic” or the “Company”) (TSX-V:SOG) is pleased to provide an update on the Company’s operations. Strategic recently drilled two Muskeg horizontal wells as part of its winter 2018 capital spending program. The wells were drilled higher in the Muskeg pay zone relative to the wells drilled in 2017 and the Company employed a monobore technology to reduce average drilling costs by $0.2 million per well compared to [Read more]