March 26, 2020, 7:59 AM MDT
Secure Energy Services Inc. will reduce its 2020 capital program by $20 million, or 25 per cent, from the amount previously announced.
March 25, 2020, 6:57 AM MDT
March 25, 2020, 8:41 AM MDT
A flurry of announced capital budget cuts from Canadian-based producers have totalled nearly $6.25 billion in reductions over the past few weeks as operators responded to an oil market that was hammered by the COVID-19 outbreak and the oil price war between Saudi Arabia and Russia.
March 24, 2020, 11:04 AM MDT
Suncor Energy Inc.’s revised capital program is expected to be between $3.9 and $4.5 billion, a $1.5 billion or 26 per cent decrease compared to the original 2020 capital guidance midpoint.
March 24, 2020, 12 AM MDT
March 24, 2020, 7:56 AM MDT
March 24, 2020, 10:20 AM MDT
Precision Drilling Corporation is reducing its 2020 capital spending plan by roughly 50 per cent to $48 million in response to less expected demand as customers reduce spending due to lower-than-anticipated commodity prices, with further adjustments throughout the year depending on activity levels.
March 24, 2020, 7:40 AM MDT
March 24, 2020, 10:44 AM MDT
A flurry of announced capital budget cuts from Canadian-based producers have totaled over $6 billion in reductions over the past few weeks as operators responded to an oil market that was hammered by the COVID-19 outbreak and the oil price war between Saudi Arabia and Russia.
March 23, 2020, 7:37 AM MDT
Ensign Energy Services Inc. is lowering its 2020 spending plan to $60 million from $100 million.
March 23, 2020, 7:51 AM MDT
March 23, 2020, 8:42 AM MDT
March 23, 2020, 7:55 AM MDT
March 23, 2020, 8:49 AM MDT
As shown in the last two weekly POST reports, producers have been busy pulling back on planned drilling projects recently, as COVID-19 demand destruction and the ongoing Russia-Saudi oil price war impedes the industry.
March 20, 2020, 8:34 AM MDT
Athabasca Oil Corporation announced a $30 million reduction to its 2020 capital program and is proactively curtailing heavy oil production at Hangingstone.
March 20, 2020, 6:06 AM MDT
Light oil-focused InPlay Oil Corp. says it no longer plans $35 million in capital spending in 2020, instead managing spending and adjusting its capital program accordingly throughout the year, deferring any capital decisions for the second half of this year.
March 20, 2020, 5:59 AM MDT
Perpetual Energy Inc. approved a capital spending program of $6 million for the first quarter of 2020 to drill four (4.0 net) multi-lateral horizontal wells at Ukalta.
March 20, 2020, 12 AM MDT
March 20, 2020, 8 AM MDT
Citing the need to preserve financial liquidity, Baytex Energy Corp. says it is reducing its 2020 capital budget by 50 per cent at the midpoint to between $260 million and $290 million, from the original $500 million to $575 million announced in December 2019.
March 19, 2020, 6:45 AM MDT
Tamarack Valley Energy Ltd. has lowered its spending guidance to $95 million-$105 million, down from the previous $170 million-$180 million.
March 19, 2020, 12 AM MDT
Paramount Resources Ltd. lowered its 2020 capital guidance to a range of $185 million to $250 million, a reduction of approximately 46 per cent at mid-point from the originally planned range of $350 million to $450 million.
March 19, 2020, 5:48 AM MDT
Imperial Oil Limited is currently in a low capital investment period, however the company is currently reviewing spending plans in an effort to identify further efficiency opportunities.
March 19, 2020, 6:51 AM MDT
March 19, 2020, 2 PM MDT
The historic resilience and stability of Enbridge Inc.’s operating assets will enable the company to withstand today’s challenging environment, says its chief executive.
March 18, 2020, 9:17 AM MDT