As a result of the reduced industry activity in the third quarter of 2023 caused by lower commodity prices in the first eight months of the year, Western Energy Services Corp. has reduced its capital budget for 2023 to $25 million, which represents a decrease of $5 million from Western's previous capital budget of $30 million.
October 24, 2023, 3:27 PM MDT
Rubellite Energy Inc. has entered into a definitive purchase and sale agreement to acquire additional Clearwater assets within the Figure Lake and Edwand areas as well as undeveloped land in the Nixon area of northeast Alberta.
October 20, 2023, 12 AM MDT
Canada’s oil supply rose by an estimated 190,000 bbls/d month-on-month in July to 5.7 million bbls/d, primarily due to bitumen mining and upgrader output increases, says the International Energy Agency (IEA).
October 12, 2023, 7:48 AM MDT
Obsidian Energy Ltd.’s Peace River assets are front-and-centre in the company’s new three-year plan and will provide the lion’s share of production growth during the period, president and CEO Stephen Loukas says.
September 22, 2023, 12 AM MDT
Obsidian Energy Ltd. hiked its capital budget to $300 million.
September 21, 2023, 6:06 AM MDT
In light of WTI oil price volatility that has prevailed through 2023, along with Saturn Oil & Gas Inc. commitment to optimize returns on invested capital, the company has elected to reduce capital expenditures for 2023 and will also be commencing the winter drilling program later in the year than originally anticipated.
September 20, 2023, 9:49 AM MDT
The war in Ukraine and energy supply challenges it created has large institutional investors shifting capital back to oil and gas companies as they recognize hydrocarbons will be part of the energy mix long into the future, said industry leaders during the Canadian Energy Executives Association (CEEA) annual business forum in Banff.
September 14, 2023, 10:48 AM MDT
Crescent Point Energy Corp. is forecasting annual production of 145,000 to 151,000 boe/d in 2024 based on development capital expenditures of $1.05 to $1.15 billion.
September 11, 2023, 5:15 AM MDT
Hammerhead Energy Inc. lifted 2023 annual average production guidance to 41,500 boe/d from the previous estimate of 40,200 boe/d.
September 6, 2023, 7:48 AM MDT
Highwood Asset Management Ltd. says its focus in Q2 was on the “transformational acquisitions” that the company announced early in the third quarter of 2023 and the corresponding financing.
August 30, 2023, 8:51 AM MDT
Lycos Energy Inc. is increasing its 2023 acquisition expenditures to $59.0 million and its 2023 exploration, development and other capital expenditures to $47.0 million from $50.0 million and $37.0 million, respectively.
August 25, 2023, 7:46 AM MDT
Crescent Point Energy Corp. has entered into an agreement with a private operator to sell its North Dakota assets for US$500 million (approximately $675 million) in cash.
August 24, 2023, 9:34 AM MDT
August 17, 2023, 9:05 AM MDT
Petrus Resources Ltd. has lowered its 2023 capital budget guidance to $60 million to $75 million, $33.1 million of which has already been spent, largely on drilling.
August 15, 2023, 6:05 AM MDT
Higher service prices across all divisions resulted in record second quarter results for Total Energy Services Inc., the company reported on Thursday.
August 11, 2023, 6:59 AM MDT
Rubellite Energy Inc.’s board of directors has approved the addition of the second rig at Figure Lake to expand development capital spending for the remainder of 2023, bringing total expected exploration and development capital spending for 2023 to $54 - $65 million.
August 11, 2023, 6:19 AM MDT
Crew Energy Inc. has benefited from improved capital efficiencies and is maintaining its annual capital investment guidance of $190 to $210 million.
August 10, 2023, 12 AM MDT
Journey Energy Inc. reduced its 2023 capital budget to $46 million from $63 million and now anticipates drilling seven (5.6 net) wells in the Medicine Hat and Cherhill pools.
August 10, 2023, 8:13 AM MDT
Pieridae Energy Limited says production has largely recovered from unscheduled downtime during the second quarter, with recent field production back to about 35,600 boe/d.
August 10, 2023, 9:32 AM MDT
Enerplus Corporation narrowed its capital spending guidance range for 2023 to $510 – $550 million from $500 – $550 million.
August 10, 2023, 6 AM MDT
North America’s oil and gas capital expenditures are at a five-year high despite significant cuts to operating cash flow caused by lower per-bbl prices.
August 8, 2023, 8:59 AM MDT
Canada’s oil and gas operators are facing a laundry list of competing priorities from major stakeholders as the industry recovers from a difficult decade..
August 8, 2023, 6:41 AM MDT
While dissipating somewhat from recent highs, Canadian Natural Resources Limited’s top executive says inflationary pressures are still in play, especially on the labour front.
August 4, 2023, 12 AM MDT
Headwater Exploration Inc. is lifting its 2023 capital expenditure budget from $200 million to $225 million.
August 4, 2023, 12 AM MDT
Hammerhead Energy Inc. continued a two-rig development program with quarterly capital expenditures and net cash used in investing activities of $95.3 million and $132.3 million, respectively.
August 4, 2023, 12 AM MDT
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