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]
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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]
Hemisphere Energy Increases Term Loan and Provides Development Plans for Q1 2018
TSX-V: HME - VANCOUVER, Feb. 1, 2018 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") is pleased to announce an increase to its term loan and subsequent development plans for the first quarter of 2018. Term Loan Hemisphere has amended its credit agreement with its third-party lender in order to increase the commitment amount available to Hemisphere on its multi-draw, non-revolving term loan facility (the "Term Loan") by US$5.0 million, bringing the aggregate [Read more]
Heritage Resource Limited Partnership – Palliser Enchant Prospect
Palliser Enchant Prospect Heritage Resource Limited Partnership is marketing fee simple mineral rights for Lease on the Palliser Block. The prospect area identifies horizontal development opportunities in the Mannville and below base Mannville by using subsurface analog data. Highlights Enchant T14/15 R15/16 W4M ~15 contiguous sections of available PNG from Top Mannville to Basement* Partial 3D/2D Seismic coverage available for review. *Details found at [Read more]
Iron Bridge Resources Announces New Board of Director
CALGARY, Alberta, Feb. 01, 2018 (GLOBE NEWSWIRE) -- Iron Bridge Resources Inc. (“Iron Bridge” or the "Company") (TSX:IBR) is pleased to announce the appointment of Mr. Marshall Abbott to the Board of Directors of Iron Bridge, effective February 1, 2018. Mr. Abbott of Calgary, Alberta, is an independent businessman with extensive oil and gas experience encompassing 35 years in a variety of founder and senior executive roles within both public and private upstream producers. After his initial [Read more]