Capital Spending

  • Surge Outlines 2024 Capital And Operating Budget

    Surge Energy Inc. says its 2024 capital budget of $190 million will see approximately 95 per cent of development expenditures directed towards its Sparky and SE Saskatchewan core areas.

    December 8, 2023, 9:01 AM MST

  • Headwater Announces 2024 Budget

    Headwater Exploration Inc. has announced a preliminary budget for 2024 of $180 million.

    December 8, 2023, 8:31 AM MST

  • Pieridae Announces 2024 Guidance, Plans No New Wells

    Pieridae Energy Limited says it does not currently plan to resume drilling operations during 2024 due to the current outlook for North American natural gas prices.

    December 8, 2023, 12 AM MST

  • Shell Sees $6 Billion Oil, Gas Investments In Nigeria, Presidency Says

    December 8, 2023, 12 AM MST

  • Chevron Announces $16 Billion 2024 Capex Budget

    Chevron Corporation today announced an expected organic capital expenditure range of $15.5 to $16.5 billion for consolidated subsidiaries and an affiliate capital expenditure budget of approximately $3 billion for 2024.

    December 7, 2023, 12 AM MST

  • Athabasca Oil Announces 2024 Capital Expenditures Of $175 Million

    Athabasca Oil Corporation is planning capital expenditures in 2024 of $175 million, with activity focused on completing the 28,000-bbl/d expansion project at Leismer, sustaining capital at Hangingstone and three Duvernay pads at Kaybob.

    December 7, 2023, 10:02 AM MST

  • Baytex Outlines 2024 Capital Plan

    Baytex Energy Corp. announced a budget for 2024 exploration and development expenditures of $1.2 to $1.3 billion, which is designed to generate average annual production of 150,000 to 156,000 boe/d.

    December 6, 2023, 5:19 AM MST

  • Tamarack Valley In 2024 ‘Two Phase’ Capital Spending

    Tamarack Valley Energy Ltd.’s 2024 budget includes a “two phase” approach.

    December 6, 2023, 5:39 AM MST

  • 2024 Capex Trends: More Wells To Be Drilled In Canada Next Year: CAOEC

    The Canadian Association of Energy Contractors (CAOEC) expects a busier 2024 for contractors of drilling and service rigs.

    December 5, 2023, 8:27 AM MST

  • AltaGas To Up Midstream Spend; Announces 2024 Capex Plans

    While its utilities segment will still receive the lion’s share of capital in the near- to mid-term, AltaGas Ltd. says its midstream business will see an increasing share of the company’s annual spend.

    December 5, 2023, 10:33 AM MST

  • Suncor To Spend $6.3B-$6.5B For 2024

    Suncor Energy Inc. outlined a $6.3-$6.5 billion capital spending program for 2024.

    December 5, 2023, 3:40 PM MST

  • Gibson Outlines 2024 Capital Plans

    Gibson Energy Inc. outlined growth capital expenditures of $150 million in 2024.

    December 5, 2023, 12 AM MST

  • Advantage Energy Outlines 2024 Budget

    Advantage Energy Ltd. has outlined capital plans of between $260 million and $290 million for 2024.

    December 1, 2023, 12 AM MST

  • U.S. Gas Producers Keep Lid On Expenditures As They Await Price Lift

    Independent U.S. natural gas producers aim to maintain or cut current capital expenditure levels in the fourth quarter as they look to keep production flat at a time of ongoing low prices, companies reported in their third quarter 2023 conference calls.

    November 30, 2023, 10:41 AM MST

  • Spartan Delta Outlines 2024 Capital Plan

    For 2024, Spartan Delta Corp.'s board has approved an initial capital budget of $130 million to drill and complete 19.2 net (21 gross) wells, resulting in annualized production of 39,500 boe/d, a seven per cent increase in corporate production versus H2 2023 guidance.

    November 29, 2023, 5:29 AM MST

  • MEG Energy Lays Out 2024 Spending Plan

    MEG Energy Corp. has outlined its 2024 capital spending plan.

    November 27, 2023, 3:32 PM MST

  • 2024 Capex Trends: LNG Export Market Needs Infrastructure, Low Supply Costs

    The report provides 2024 forecasts for capital spending, drilling and production for companies headquartered in Canada and the U.S. The latest report focuses on updates announced Nov. 1-10, 2023.

    November 23, 2023, 6 AM MST

  • Logan Energy Lays Out 2024 Spending Plans

    Logan Energy Corp. has set a 2024 initial capital budget of $120 million. The budget is designed to deliver growth in Simonette, maintain production in Pouce Coupe and advance long term growth projects like Flatrock.

    November 23, 2023, 12 AM MST

  • Lycos Acquires Land Near Frog Lake

    Lycos Energy Inc. acquired an additional 8.5 net sections of land near its Frog Lake acreage for a total consideration of $3.5 million, before closing adjustments.

    November 23, 2023, 8:06 AM MST

  • Strathcona Improving Operational Efficiency, Increasing Production From Thermal Assets

    Strathcona Resources Ltd. is making operational improvements across its Cold Lake and Lloydminster operations to lower costs and add incremental production in near term, executives said at the company’s first conference call since becoming a public company.

    November 15, 2023, 8:30 AM MST

  • Certus Acquisition Will Not Alter Pine Cliff’s ‘Measured’ Approach To Capital Spending

    Pine Cliff Energy Ltd.’s third quarter drilling activity was limited to participating in one Ellerslie natural gas well (0.15 net) in its Edson area that came onstream at the end of October 2023.

    November 15, 2023, 9:02 AM MST

  • Strathcona To Focus On Growing Legacy Assets In 2024

    Strathcona Resources Ltd. expects to spend around $1.3 billion in 2024 to grow production to 190,000 to 195,000 boe/d, up from expected average fourth quarter 2023 production of approximately 185,000 boe/d.

    November 14, 2023, 7:01 AM MST

  • Birchcliff Outlines Preliminary Capital Plan For 2024

    Birchcliff Energy Ltd. is targeting F&D capital expenditures of $240 million to $260 million in 2024.

    November 14, 2023, 3:03 PM MST

  • Headwater Lifts 2023 Spending Plan

    Headwater Exploration Inc. lifted its planned 2023 spending plan by $10 million from $225 million to $235 million.

    November 10, 2023, 5:03 AM MST

  • Rubellite Lifts 2023 Capital Spending Slightly To Support Next Year’s Drilling

    Rubellite Energy Inc. expects to spend approximately $20 - $22 million in the fourth quarter of 2023 to drill, complete, equip and tie-in 11 (11.0 net) multi-lateral development infill and step-out wells at Figure Lake, unchanged from previous guidance.

    November 10, 2023, 5:20 AM MST

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