Husky Energy Inc. reported a second quarter net loss of $304 million compared to net earnings of $370 million during the same period in 2019 as earnings were impacted by the COVID-19-related economic downturn.
July 30, 2020, 10:53 AM MDT
With commodity prices stabilizing after the pandemic-induced collapse, Calfrac Well Services Ltd. expects a slow, steady recovery in field activity in the remainder of 2020. However, it has less clarity on any longer term recovery, company president and chief operating officer Lindsay Link told analysts at the company’s second quarter of 2020 conference call on Thursday.
July 30, 2020, 4:30 PM MDT
For the second quarter, ConocoPhillps curtailed 30,000 bbls/d at Surmont.
July 30, 2020, 6:47 AM MDT
Crescent Point Energy Corp. says its capital expenditures for the year are trending to the lower end of its guidance of $650–$700 million due to expected well cost savings of over 10 per cent in 2020.
July 30, 2020, 11:21 AM MDT
Tervita Corporation’s industrial service line results for Q2 2020 benefitted from the federal government’s $1.7 billion orphan and inactive well abandonment and site rehabilitation program. The company is a prime contractor with Alberta’s Orphan Well Association (OWA) and British Columbia’s Oil and Gas Commission (OGC).
July 30, 2020, 9:21 AM MDT
Seven Generations Energy Ltd. is forecasting lower sustaining capital requirements going forward, predominately driven by enduring cost savings that are now part of its business model.
July 29, 2020, 11:10 AM MDT
Ovintiv Inc. says recent operating results have helped confirm key financial and operating assumptions behind the future "scenarios" the company outlined in May 2020 in response to the COVID-9 pandemic.
July 29, 2020, 11:22 AM MDT
Tourmaline Oil Corp., as planned in the 2020 maintenance capital budget, is currently operating the full 10 rig drilling fleet across Alberta and northeast B.C.
July 29, 2020, 3:18 PM MDT
Due to voluntary shut-in volumes, TORC Oil & Gas Ltd.’s quarterly production averaged 24,905 boe/d, from 28,515 boe/d in the first quarter of 2020 and 28,326 in the second quarter of 2019.
July 29, 2020, 2:32 PM MDT
Western Canadian energy production likely will not return to pre-COVID-19 levels until 2021, due to such factors as drastically-reduced drilling and completion activity this year, capital spending cuts on the shale side and sustainable capital cuts on the oilsands side, says Thomas Liles, senior analyst at Rystad Energy AS.
July 17, 2020, 9:16 AM MDT
Petrus Resources Ltd.’s board of directors has approved a third quarter 2020 capital budget of $700,000 for predominantly non-discretionary capital.
July 17, 2020, 7:40 AM MDT
Pembina Pipeline Corporation is putting a lot of time and effort into improving cost efficiencies and getting projects shovel ready for what it believes will be higher commodity prices beginning late next year, its chief executive said Wednesday.
July 9, 2020, 7:39 AM MDT
Integrated oil companies that sharply reduced their capital budgets in response to the COVID-19 pandemic say they will continue to focus on their balance sheets for the rest of this year although some say spending could rise next year.
July 8, 2020, 7:08 AM MDT
Tourmaline Oil Corp.’s president and CEO made it very clear on Tuesday during a webcast conference that natural gas holds out much more hope for his company in the near future than crude, a point echoed by other executives at the event.
July 8, 2020, 12 AM MDT
July 8, 2020, 8:09 AM MDT
Dented global energy demand owing to the coronavirus pandemic portends a quiet summer for drilling activity across North America.
June 30, 2020, 11:15 AM MDT
Spring breakup conditions were unusually wet in the Edson area due to the above average winter snowfall and colder temperatures that drove frost deeper into the ground.
June 30, 2020, 7:01 AM MDT
Following a complete production shut-in during the month of May, Altura Energy Inc. has returned production volumes in June to approximately 550 boe/d.
June 30, 2020, 6:04 AM MDT
Consistent with TransGlobe Energy Corporation’s revised 2020 budget, there has been no drilling or completion activity during Q2 2020.
June 29, 2020, 10:33 AM MDT
Baytex Energy Corp. says it has restarted some of its previously shut-in crude oil production.
June 26, 2020, 12 AM MDT
Obsidian Energy Ltd. has it anticipates that as of July 1, 2020 it will have returned approximately 3,300 boe/d or 88 per cent of its previously announced shut-in volumes with July 2020 production expected to average 26,100 boe/d (65 per cent oil and NGL).
June 23, 2020, 10:44 AM MDT
June 12, 2020, 12 AM MDT
June 9, 2020, 8:35 AM MDT
Highwood Oil Company Ltd. says it continues to work through the impact of the Alberta Energy Regulator’s (AER) decision to reject license transfers associated with the Red Earth divestiture.
June 2, 2020, 8:27 AM MDT
Canadian oilfield services companies had to adjust to COVID-19 and a dramatic drop in oil prices near the end of the first quarter.
June 1, 2020, 6:32 AM MDT