Capital Spending

  • Cathedral Lowers Capital Spending Outlook

    Cathedral Energy Services Ltd.’s 2023 net capital program has been lowered to approximately $36 million down from the $46 million previously announced, excluding any potential acquisitions.

    May 12, 2023, 7:06 AM MDT

  • Birchcliff Updates Production Outlook; ‘Tightens’ Spending Range

    As a result of the ongoing impact of a force majeure event on Pembina Pipeline Corporation’s Northern Pipeline system, Birchcliff Energy Ltd. currently expects that it will be on the low end of its annual average production guidance range of 77,000 to 80,000 boe/d.

    May 11, 2023, 12 AM MDT

  • Waste Volumes Increase Help Drive Revenue Growth At SECURE In Q1

    SECURE Energy Services Inc., through the first three months of 2023, saw revenue surge 16 per cent relative to the same period a year earlier.

    April 28, 2023, 12 AM MDT

  • Precision Revenue Up For Q1; Capex Outlook Lowered

    Precision Drilling Corporation’s Q1 revenue was $559 million, an increase of 59 per cent over the first quarter of 2022 and nine per cent per cent sequentially.

    April 26, 2023, 4:17 AM MDT

  • Cathedral Plans $46-Million In 2023 Capex

    Cathedral Energy Services Ltd. has set a 2023 net capital expenditure budget of $46 million, increased from $35 million, which was preliminarily approved by the board of directors in 2022 Q4 to enable advance orders of strategic equipment for delivery in early 2023.

    April 17, 2023, 5:52 AM MDT

  • Birchcliff Delays Timing Of Wells Due To Natgas Pricing

    As a result of the recent weakness and volatility in natural gas prices and the potential for weakness in summer natural gas prices, Birchcliff Energy Ltd. has decided to slow the rate of its 2023 capital program by moving the drilling of nine (9.0 net) wells to Q3 2023 that were originally scheduled to be drilled in Q2 2023.

    March 16, 2023, 2:36 PM MDT

  • Essential Energy’s Revenue Climbs In Q4

    Essential Energy Services Ltd.’s revenue in Q4 2022 was $40.3 million, 15 per cent higher than the same prior year quarter due to improved industry conditions.

    March 6, 2023, 6:15 AM MST

  • PHX Carries Over Capital Into 2023

    The approved capital expenditure budget for the 2022-year was $85 million for PHX Energy Services Corp.

    March 2, 2023, 3:33 AM MST

  • CWC Boosts Capital Budget

    CWC Energy Services Corp. approved an additional $300,000 of maintenance capital and $3.7 million of growth capital, the bulk of which will be used to purchase real estate in the United States, bringing the total capital expenditure budget for 2023 to $30.3 million.

    March 2, 2023, 12 AM MST

  • Enbridge Says Mainline Talks Continue; Updates Status Of Growth Projects

    Enbridge Inc. says it continues to advance two potential commercial frameworks for the Canadian Mainline in parallel — a new incentive rate-making agreement and a Canadian Mainline cost-of-service application.

    February 10, 2023, 10:30 AM MST

  • Precision Outlines 2023 Capital Plans

    Precision Drilling Corporation’s capital spending in 2023 is expected to be $235 million and by spend category includes $163 million for sustaining, infrastructure and intangibles and $72 million for expansion and upgrades.

    February 9, 2023, 12 AM MST

  • Cathedral Expects To Spend $46 Million In 2023; Higher Than Preliminary Guidance

    Cathedral Energy Services Ltd.’s board of directors has approved a net capital budget of $46 million for 2023.

    January 16, 2023, 12 AM MST

  • Western Energy Sets Capital Budget At $30 Million

    Western Energy Services Corp. outlined a 2023 capital expenditure budget of approximately $30 million, including $7 million of committed expenditures from 2022 that will carry forward into 2023, which is expected to be comprised of approximately $21 million of maintenance capital and $9 million of expansion capital.

    January 13, 2023, 12 AM MST

  • Tourmaline Raises 2023 Capex Outlook

    Tourmaline Oil Corp. reported a 2022 exit volume production of 528,000 boe/d.

    January 12, 2023, 3:31 PM MST

  • Total Energy Outlines 2023 Spending Plan

    Total Energy Services Inc. has set a capital budget of $51.7 million which includes $25.6 million of expansion capital and $26.1 million for equipment maintenance and recertifications.

    January 10, 2023, 7:16 AM MST

  • STEP Energy Outlines 2023 Spending Plan

    STEP Energy Services Ltd.’s board of directors has approved a $45 million increase in the 2023 capital program, bringing the total 2023 capital budget to approximately $100 million.

    January 9, 2023, 12 AM MST

  • Pembina Pipeline Outlines 2023 Capital Program

    Pembina Pipeline Corporation announced 2023 adjusted EBITDA guidance of $3.5 to $3.8 billion and a 2023 capital investment program of $730 million.

    December 12, 2022, 7:14 AM MST

  • Gibson Energy Targets $100-$125MM In Growth Capital For 2023

    Gibson Energy Inc.’s target for growth capital expenditures in 2023 is between $100 million and $125 million, depending on the timing of the sanction of certain growth opportunities.

    December 6, 2022, 12 AM MST

  • Enbridge Lifts Dividend; To Deploy $6B Of Capital In 2023

    Enbridge Inc. announced an annualized common share dividend increase from $3.44 to $3.55 per share, or 3.2 per cent, effective March 1, 2023.

    November 30, 2022, 5:56 AM MST

  • ‘Constructive’ Outlook For 2023, Says Cathedral, In Setting Capital Budget

    With what it called a “constructive outlook for 2023,” the Cathedral Energy Services Ltd. board has approved a preliminary net capex budget of $35 million, which will enable advance orders of strategic equipment.

    November 16, 2022, 12 AM MST

  • Total Energy CEO ‘Bullish’ As Momentum Gained In Record-Setting Q3 Expected To Continue

    Fresh off of a quarter that saw it post record quarterly results, Total Energy Services Inc. executives say current indications are that North American industry activity levels will continue to moderately increase as the winter drilling season continues to ramp-up.

    November 14, 2022, 12 AM MST

  • Pipestone Boosts 2022 Spending Plan; Outlines 2023 Capex

    Pipestone Energy Corp. is increasing its capital expenditure guidance for 2022, from $225 - $235 million to an estimate of $240 million.

    November 9, 2022, 7:48 AM MST

  • PHX Energy Sets Preliminary Spending Plan For 2023

    PHX Energy Services Corp. announced a preliminary 2023 capital expenditure program of $50 million.

    November 9, 2022, 12 AM MST

  • Enbridge’s Secured Growth Program Now Stands At About $17B

    Enbridge Inc. added approximately $3.8 billion of growth capital to its secured capital program during the third quarter.

    November 4, 2022, 11:05 AM MDT

  • SECURE Energy CEO Expects Discretionary Free Cash Flow Growth In 2023

    SECURE Energy Services Inc. has set an initial capital plan of $135 million for 2023, which includes $50 million of growth capital.

    November 4, 2022, 12 AM MDT

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