Capital Spending

  • STEP Energy Expects Strong Q2 Activity, ‘Hasn’t Seen Any Pullback’ From E&Ps

    Despite continued weakness in North American natural gas prices, STEP Energy Services Ltd. has yet to see a material pull-back in E&P customers’ activity.

    March 13, 2024, 6 AM MDT

  • PHX Energy Lifts Capital Spending

    PHX Energy Services Corp.  approved a preliminary 2024 capital expenditure program of $70 million. Of the 2023 capital expenditure budget, $5 million was not spent in 2023 and will be carried forward into 2024.

    March 1, 2024, 5:45 AM MST

  • Western Energy Outlines 2024 Spending

    Western Energy Services Corp. outlined a 2024 capital budget of $23 million, which is expected to be comprised of $15 million of maintenance capital and $8 million of expansion capital, including $3 million of committed expenditures from 2023 that will carry forward into 2024.

    January 16, 2024, 12 AM MST

  • Enerflex Says 2024 Capital Program Will Be ‘Disciplined’

    Enerflex Ltd. is targeting a disciplined capital program in 2024 with total capital expenditures of US$90 million to US$110 million.

    January 16, 2024, 5:43 AM MST

  • Total Energy Services Outlines 2024 Spending Plan

    Total Energy Services Inc. outlined its preliminary 2024 capital expenditure budget of $46.5 million which includes $22.4 million of expansion capital and $24.1 million for equipment maintenance and recertifications.

    January 9, 2024, 12 AM MST

  • Calfrac To Continue Fracturing Fleet Modernization In 2024

    Calfrac Well Services Ltd. announced its 2024 capital program for continuing operations of $210.0 million, compared to $165.0 million of planned capital expenditures in 2023.

    December 22, 2023, 12 AM MST

  • STEP Energy Outlines 2024 Spending Plan

    STEP Energy Services Ltd. announced its full-year 2024 capital budget of $119.8 million, an increase from the preliminary capital budget of $60 million announced on Nov. 1, 2023.

    December 14, 2023, 5:46 AM MST

  • Keyera Outlines 2024 Capital Spending Plan

    Keyera Corp.’s growth capital is expected to range between $80 million and $100 million in 2024.

    December 12, 2023, 12 AM MST

  • Pembina Pipeline Issues 2024 Financial Guidance, Business Update

    Pembina Pipeline Corporation announced today its 2024 financial guidance and provided a business update.

    December 11, 2023, 8:47 AM MST

  • Gibson Outlines 2024 Capital Plans

    Gibson Energy Inc. outlined growth capital expenditures of $150 million in 2024.

    December 5, 2023, 12 AM MST

  • PHX Energy Lifts 2023 Capex

    PHX Energy Services Corp. has boosted 2023 spending to $80 million from the previous $61.5 million.

    November 8, 2023, 12 AM MST

  • Precision Drilling CEO Explores Capital Funding And Customer-Funded Rig Upgrades

    Precision Drilling Corporation’s president and CEO Kevin Neveu went into detail about the company’s capital spending budget and how it related to increased customer-funded rig upgrades and moves at its third quarter results call-in.

    October 30, 2023, 12 AM MDT

  • Precision Boosts Capital Spending Outlook On Rig Upgrades

    Precision Drilling Corporation has boosted its capital spending budget in response to increased customer-funded rig upgrades and to facilitate the strategic purchase of certain long-lead items.

    October 26, 2023, 12 AM MDT

  • Western Energy Services Reduces Capex

    As a result of the reduced industry activity in the third quarter of 2023 caused by lower commodity prices in the first eight months of the year, Western Energy Services Corp. has reduced its capital budget for 2023 to $25 million, which represents a decrease of $5 million from Western's previous capital budget of $30 million.

    October 24, 2023, 3:27 PM MDT

  • Higher Prices Drive Record Second Quarter For Total Energy Services

    Higher service prices across all divisions resulted in record second quarter results for Total Energy Services Inc., the company reported on Thursday.

    August 11, 2023, 6:59 AM MDT

  • Canadian Activity Expected to ‘Hold Steady’: STEP Energy

    Canadian activity levels are expected to hold steady through the second half of the year, according to STEP Energy Services Ltd.

    August 3, 2023, 9:15 AM MDT

  • 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

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