Oil firm says Glauc C play is under budget, more wells planned
By MEDICINE HAT NEWS on November 9, 2023.
https://www.medicinehatnews.com@MedicineHatNews Glauc C oil field operator Journey Energy says its 2023 drilling program northeast of Medicine Hat has come in under budget and more wells are planned in the area in early 2024. Calgary-based Journey, which acquired the field from Enerplus last year, made the statement in its third-quarter financial release Tuesday. They outline that sales revenue rose even though commodity prices fell as they added production with the Glauc C acquisition. Adjusted income for the first nine months of 2023 was $47.7 million, down from $76.5 million at the same time in 2022. The company had planned to spend $5.4 million to add four wells in the Medicine Hat field, which is under a flood program. Production was boosted 20 per cent. The company, which also operates an electrical generating power plant in the Countess area, plans to commission another natural gas-fed peaking plant in northern Alberta in 2024 at its Gilby facility. S3 expands, again A Swift Current-based farm equipment manufacturer setting up a production site in Medicine Hat has acquired another southern Saskatchewan company. The S3 Group, which builds and assembles a variety of air-seeders, pneumatic systems, farrows, wire and grain dryers, has purchased Power Pin, Inc. That Fort Qu’Appelle, Sask. company has provided a range of hitches and other products since 1989. It will remain in its location according to S3 president Richelle Andreas, who announced the purchase Wednesday. “I have tremendous respect for the innovation and vision that (founder) Brian Olson incorporated in Power Pin,” said Andreas. “This acquisition makes S3 and Power Pin stronger and I am excited about what it means for our future.” With the addition, S3 production facilities now number seven in total. 12-11
