The Alberta Energy Regulator (AER) provided its conditional approval of the licence transfers associated with the Red Earth divestiture, said Highwood Oil Company Ltd.
April 29, 2020, 4:22 AM MDT
Producers working across the Western Canadian Sedimentary Basin continue to accelerate shut-in of currently uneconomic production to improve their balance sheets.
April 28, 2020, 11:28 AM MDT
Journey Energy Inc. has shut-in approximately 1,500 boe/d (73 per cent oil and NGL) of its production effective the first week of April.
April 27, 2020, 7:46 PM MDT
April 27, 2020, 7:44 AM MDT
There’s something comforting about heading a privately-owned oil and gas company and not having to watch your company’s publicly-listed shares drop on an almost daily basis, according to the CEO and president of Calgary-based Velvet Energy Ltd.
April 23, 2020, 6 AM MDT
Whitecap Resources Inc. expects the second quarter of 2020 to be its most difficult period to navigate with the pandemic and global oversupply crisis but believes it will emerge stronger in many ways, its chief executive said Wednesday.
April 23, 2020, 8:25 AM MDT
Obsidian Energy Ltd. has taken further proactive action to shut-in currently uneconomic production with a focus on preserving its balance sheet and improving financial flexibility.
April 23, 2020, 6:42 AM MDT
Keyera Corp. is reducing its 2020 capital program following a decision to defer construction of the Key Access Pipeline System (KAPS) for one year.
April 22, 2020, 11:42 AM MDT
Enerplus Corporation is further reducing its 2020 capital budget by an additional $25 million to $300 million.
April 22, 2020, 5:10 AM MDT
Export Development Canada (EDC) said that in response to the COVID-19 crisis, the Government of Canada, through EDC and the Business Development Bank of Canada (BDC), will make available added financial capacity to help support Canada’s oil and gas sector.
April 21, 2020, 11:10 AM MDT
As a result of reducing operations to a single-train facility at Fort Hills and to minimize negative cash flow, Teck Resources Limited has reduced its planned 2020 capital spending in the energy business unit to $85 million from $175 million.
April 21, 2020, 9:06 AM MDT
Husky Energy Inc. is further reducing capital expenditures and shutting in negative cash margin production as further measures to strengthen its business given market conditions caused by COVID-19.
April 20, 2020, 5:12 AM MDT
Crescent Point Energy Corp.’s capital expenditures for 2020 are now forecast to be $650 to $700 million, or $75 million below its recently revised guidance of $700 to $800 million, based on the mid-point of the range.
April 20, 2020, 5:58 AM MDT
In anticipation of the expected decline in activity levels, Cathedral Energy Services Ltd.’s management team has implement the following cost cutting initiatives:
April 20, 2020, 5:31 AM MDT
ConocoPhillips says it is cutting back production at its Surmont SAGD project in Canada due to low Western Canada Select prices and wide differentials and by May expects to reduce production by approximately 100,000 bbls/d of oil (gross) to 35,000 bbls/d.
April 16, 2020, 11:37 AM MDT
Essential Energy Services Ltd. has reduced its 2020 spending forecast to $2 million from $5 million.
April 16, 2020, 4:03 PM MDT
Gear Energy Ltd. has chosen to immediately pursue reductions to the variable costs of the business in an effort to maximize funds from operations.
April 16, 2020, 8:51 AM MDT
As COVID-19 containment halts mobility, worldwide oil demand for 2020 will likely fall by a record 9.3 million bbls/d, erasing almost a decade of growth, says the International Energy Agency (IEA) in its April oil market report.
April 15, 2020, 8:43 AM MDT
Peyto Exploration & Development Corp. has lowered its capital program and dividend in response to the effects of the COVID-19 pandemic on near term hydrocarbon demand and commodity prices.
April 15, 2020, 3:44 PM MDT
Surge Energy Inc. is suspending its dividend (approximately $33.5 million in annualized savings when combined with the previously announced March 9 dividend reduction) until such time as management and board see a sustainable recovery in world crude oil prices.
April 15, 2020, 12 AM MDT
Although they have not officially announced further guidance changes, some smaller E&Ps have released information related to altered drilling plans and/or shutting in production.
April 14, 2020, 11:16 AM MDT
Surviving and adapting to new challenges, crises and realities is nothing new for oil and gas companies operating in Canada.
April 13, 2020, 7:44 AM MDT
Advantage Oil & Gas Ltd. is selling a 12.5 per cent interest in the Glacier gas plant to a strategic partner for $100 million cash proceeds.
April 13, 2020, 7:50 AM MDT
Highwood Oil Company Ltd. has chosen to cease all non-discretionary capital activity for the balance of 2020 until realized pricing in Western Canada rebounds from historic lows.
April 13, 2020, 12 AM MDT
Canadian oil and gas companies are rapidly adjusting their cost structures to remain viable as the collapse in oil prices resulting from the drop in demand from the COVID-19 pandemic hammers cash flows, according to the results of the Daily Oil Bulletin Pandemic Survey.
April 9, 2020, 9:22 AM MDT