DOB Launches 2020 Corporate Guidance Package
Producers in Alberta can now drill new conventional oil wells without being restricted by mandatory provincial production limits — a favourable industry development heading into 2020 — but many companies have already signalled tighter spending plans for next year.
“It’s definitely going to result in more wells and more jobs,” Tristan Goodman, president of the Explorers and Producers Association of Canada (EPAC), said of last week’s announcement. But “this is not the start of a boom.”
During the upcoming 2020 guidance season, the Daily Oil Bulletin will again publish weekly updates to producers’ capital spending, drilling and production forecasts. The DOB provides coverage of both Canadian and U.S. operators.
The weekly report, for companies announcing guidance during the period Nov. 4-8, has updates for ARC Resources Ltd., Kelt Exploration Ltd., Seven Generations Energy Ltd., Tamarack Valley Energy Ltd. and Tourmaline Oil Corp., among others.
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- Capital Spending