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
May 28, 2020, 8:15 AM MDT
Although Birchcliff Energy Ltd. slashed its 2020 capital budget by 19 per cent in March, the natural gas-weighted producer has no plans to enact further cuts as it looks to set itself up to take advantage of better industry conditions it believes will transpire later this year and into 2021.
May 27, 2020, 12 AM MDT
In this week’s guidance, we detail natural gas capital plans, an update on Enbridge Inc.’s Line 3, and the drop in crude-by-rail volumes.
May 27, 2020, 11:31 AM MDT
While capital expenditure cuts by Canadian natural gas-weighted entities have been less severe than crude-weighted producers, seven out of eight companies whose production is 70 per cent or more gas have pulled back spending since the COVID-19 crisis took hold, according to data compiled by Evaluate Energy.
May 26, 2020, 7:06 AM MDT
Pipestone Energy Corp. has halted its 2020 capital spending program and production guidance in response to the current commodity price weakness.
May 21, 2020, 12 AM MDT
STEP Energy Services Ltd. has further reduced its 2020 budget to $15.5 million, which is a reduction of 67 per cent from the initial $47 million program.
May 21, 2020, 8:44 AM MDT
The Alberta government and the Canadian Association of Petroleum Producers (CAPP) welcomed last Monday’s announcement by the federal government of a new multi-sector bridge financing program to help large employers, although they caution the details remain to be worked out.
May 20, 2020, 9:29 AM MDT
While March activity levels declined due to COVID-19 and the low oil prices, CES Energy Solutions Corp. increased its market position in the quarter.
May 19, 2020, 7:28 AM MDT
PHX Energy Services Corp. expects its capital expenditures to total $27.5 million in 2020, as compared to this year’s previously-forecasted spending budget of $30 million.
May 15, 2020, 6:17 AM MDT
Bonterra Energy Corp. expects its 2020 capital program to remain suspended until commodity prices improve.
May 15, 2020, 10:14 AM MDT
Bonavista Energy Corporation plans to maintain production between 61,000 and 64,000 boe/d with lower E&D spending of between $85 million and $95 million, which is within forecasted adjusted funds flow for the year.
May 14, 2020, 7:25 AM MDT
May 14, 2020, 8:18 AM MDT
Peyto Exploration & Development Corp. says preparation for and reaction to the sweeping global pandemic dominated the first quarter of 2020 and forced the company to reduce spending and alter its drilling plans.
May 13, 2020, 11:16 AM MDT
North American producers continue to slash their capital budgets in the wake of low oil prices and COVID-19 demand destruction, but many are also reviewing their ongoing operating expenses.
May 13, 2020, 11:39 AM MDT
Storm Resources Ltd.’s capital investment is intended to be approximately equal to or less than forecast funds flow and is being reduced $25 million by deferring activity at Fireweed for up to one year (first production in the second half of 2021 or in early 2022).
May 13, 2020, 7:39 AM MDT
Tamarack Valley Energy Ltd. says it is taking “bold and proactive” steps designed to preserve and protect shareholder value. These steps include shutting in production and lowering capital guidance.
May 13, 2020, 12 AM MDT
Paramount Resources Ltd. has lowered its capital spending plan for 2020 to $165 million from the previous range of $185 million to $250 million.
May 13, 2020, 10:38 AM MDT
Ovintiv Inc. continues to manage operations through capital expenditure reduction, cost efficiencies, shutting-in production and protecting its balance sheet and is well positioned to hit the ground running once the COVID-19 induced market chaos begins to subside, says CEO Doug Suttles.
May 8, 2020, 11:26 AM MDT
The estimated cost of the Heartland Petrochemical Complex (HPC) is now approximately $4 billion, with the majority of incremental costs expected to be incurred in 2021 and 2022, says Inter Pipeline Ltd.
May 7, 2020, 10:13 AM MDT
Canadian Natural Resources Limited is cutting an additional $280 million from its 2020 capital budget but unlike many of its peers in Canada and the United States the company has opted to maintain its dividend at current levels.
May 7, 2020, 11:14 AM MDT
Murphy Oil Corporation has further ramped down capital spending for the third time this year, now to half its original US$1.45-billion guidance, as the COVID-19 pandemic continues to take a heavy toll on the industry.
May 7, 2020, 11:01 AM MDT
Seven Generations Energy Ltd. plans to refocus its 2020 development drilling program towards the company’s gas-weighted assets, given the weakness in liquids pricing and the relative strength in natural gas forward pricing.
May 7, 2020, 10:48 AM MDT