Western Energy Services Corp. announced a preliminary 2021 capital expenditure budget of $6 million, which is expected to be maintenance capital.
January 4, 2021, 12 AM MST
Pembina Pipeline Corporation has set a 2021 capital budget of $730 million as it reactivates two previously deferred growth projects, a revised Phase VII Peace Pipeline expansion and Empress co-generation facility, although a joint venture petrochemical project has been suspended indefinitely.
December 14, 2020, 11:38 AM MST
Mullen Group Ltd. approved a capital budget of $60 million for 2021, exclusive of corporate acquisitions or investment in facilities, land and buildings.
December 10, 2020, 12 AM MST
Inter Pipeline Ltd. plans to spend $1 billion in capital for 2021.
December 10, 2020, 4:06 PM MST
Pipestone Energy Corp. has entered into an agreement with Veresen Midstream LP for an additional 50 mmcf/d of gas processing capacity at the Veresen Midstream Hythe gas plant as well as ancillary transportation and fractionation services with Pembina Pipeline Corporation and certain of its affiliates.
December 8, 2020, 8:16 AM MST
Calfrac Well Services Ltd. has laid out a 2021 capital program of $55 million, which consists primarily of maintenance capital expenditures.
December 7, 2020, 4:16 AM MST
PHX Energy Services Corp. has approved a preliminary 2021 capital expenditure program of $15 million.
December 7, 2020, 6:41 AM MST
Gibson Energy Inc.’s budget for growth capital expenditures in 2021 is “up to” $200 million.
December 7, 2020, 2:19 PM MST
Crescent Point Energy Corp. outlined capital expenditure plans of $475–$525 million for 2021 and annual average production guidance of 108,000 to 112,000 boe/d.
December 4, 2020, 7:23 AM MST
CWC Energy Services Corp. outlined a 2021 capital expenditure budget of $3.9 million which includes $800,000 carried over from the 2020 capital expenditure budget.
December 3, 2020, 2:43 PM MST
During the Petroleum Services Association of Canada’s (PSAC) ’s 2021 Canadian OFS activity forecast event, John Gibson, oil and gas services analyst for BMO Nesbitt Burns, said consolidation in the Canadian market has largely already occurred, and better-positioned OFS firms would prefer to let attrition run its course rather than consolidating competitors in an oversupplied market.
November 23, 2020, 11:01 AM MST
In 2020, PHX Energy Services Corp. expects to spend $27.5 million in capital expenditures, lower than the previously forecasted $30 million.
November 5, 2020, 7:29 AM MST
STEP Energy Services Ltd. has increased its 2020 maintenance capital budget by $2 million to $17.5 million, doing so in response to increased activity in the third quarter and expected activity in the fourth quarter.
November 4, 2020, 5:52 AM MST
Secure Energy Services Inc. anticipates a modest increase in drilling and completion activity in Q4 of 2020 and into 2021 as customers add production to offset natural declines and maintain flat production levels to hold cash flow levels, satisfy reserve-based lending commitments, and take advantage of hedge contracts.
November 2, 2020, 10:16 AM MST
Pipestone Energy Corp. kicked off drilling operations on the 3-12 pad in early September 2020.
September 18, 2020, 8:27 AM MDT
While COVID-19 and lower crude prices largely meant reduced capital spending during the second quarter, some Canadian oilfield services firms are seeing investment opportunities in the current business environment.
August 19, 2020, 6 AM MDT
Unstable market conditions and the industry uncertainty forced Pason Systems Inc. to reduce capital expenditures to $799,000 in the second quarter of 2020 compared to the $4.21 million spent in the comparative quarter in 2019.
August 10, 2020, 12 AM MDT
Husky Energy Inc. reported a second quarter net loss of $304 million compared to net earnings of $370 million during the same period in 2019 as earnings were impacted by the COVID-19-related economic downturn.
July 30, 2020, 10:53 AM MDT
With commodity prices stabilizing after the pandemic-induced collapse, Calfrac Well Services Ltd. expects a slow, steady recovery in field activity in the remainder of 2020. However, it has less clarity on any longer term recovery, company president and chief operating officer Lindsay Link told analysts at the company’s second quarter of 2020 conference call on Thursday.
July 30, 2020, 4:30 PM MDT
Tervita Corporation’s industrial service line results for Q2 2020 benefitted from the federal government’s $1.7 billion orphan and inactive well abandonment and site rehabilitation program. The company is a prime contractor with Alberta’s Orphan Well Association (OWA) and British Columbia’s Oil and Gas Commission (OGC).
July 30, 2020, 9:21 AM MDT
Western Canadian energy production likely will not return to pre-COVID-19 levels until 2021, due to such factors as drastically-reduced drilling and completion activity this year, capital spending cuts on the shale side and sustainable capital cuts on the oilsands side, says Thomas Liles, senior analyst at Rystad Energy AS.
July 17, 2020, 9:16 AM MDT
Pembina Pipeline Corporation is putting a lot of time and effort into improving cost efficiencies and getting projects shovel ready for what it believes will be higher commodity prices beginning late next year, its chief executive said Wednesday.
July 9, 2020, 7:39 AM MDT
Integrated oil companies that sharply reduced their capital budgets in response to the COVID-19 pandemic say they will continue to focus on their balance sheets for the rest of this year although some say spending could rise next year.
July 8, 2020, 7:08 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
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