Capital Spending

  • Altura To Continue With Leduc-Woodbend Drilling In Second Half Of 2019

    Corporate guidance for 2019 remains as previously announced with a capital program of $15 million, with Altura Energy Inc.’s spending weighted to the second half of 2019.

    May 15, 2019, 7:30 AM MDT

  • Tourmaline Lowers Capital Spending Plan

    With the early start-up of the Gundy plant providing a modest production cushion and continued reduction of per-well capital costs, Tourmaline Oil Corp. has decided to reduce the full-year 2019 capital program by a further $25 million to $1.2 billion.

    May 9, 2019, 12 AM MDT

  • Petrus Lays Out Capital Program Of $7-$8MM For Q2

    Petrus Resources Ltd.’s board of directors approved a second quarter 2019 capital budget of $7 to $8 million, based on a current forecast for commodity futures pricing, anticipated service costs and current activity levels. ​​​​​​​

    May 7, 2019, 7:04 AM MDT

  • Newfield Acquisition Synergies Greater Than Forecast, Says Encana

    Following the successful close of the Newfield Exploration Company acquisition, Encana Corporation says it has exceeded annualized general and administrative (G&A) synergies by $25 million and has increased its estimate for the year to $150 million.

    April 30, 2019, 9:07 AM MDT

  • Highlights Of Cardium Programs

    The following is a sampling of recently announced plans for other Cardium players, aside from the ones contained in this story.

    April 29, 2019, 4:08 AM MDT

  • Pine Cliff Acquires Ghost Pine Assets For $8.6 Million, Updates Guidance

    Pine Cliff Energy Ltd. has entered into an agreement to acquire oil and natural gas assets in the Ghost Pine area of central Alberta for net cash consideration of $8.6 million, after estimated closing adjustments.

    April 18, 2019, 9:12 AM MDT

  • Saskatchewan Expects ‘Softening’ In Producers’ Capital Budgets This Year, Before Rebound In 2020

    Saskatchewan hasn’t been immune to the challenges facing the oil and gas sector.

    April 12, 2019, 11:14 AM MDT

  • Cardinal Energy Boosts Capital Budget By $5 Million

    Cardinal Energy Ltd. is increasing its 2019 budget guidance to $52 million, up $5 million from the initial $47-million capital budget announced in March.

    April 12, 2019, 9:21 AM MDT

  • InPlay Focused On Cardium In 2018, Continuing This Year

    InPlay Oil Corp. executed a $50.2 million capital program during 2018, focused on the Willesden Green bioturbated Cardium formation.

    March 20, 2019, 7:24 AM MDT

  • Delphi First Half Work Includes Four-Well Pad At West Bigstone

    Through the first half of 2019, Delphi Energy Corp. will complete and bring on production its four-well pad in West Bigstone.

    March 14, 2019, 8:33 AM MDT

  • Petrus Outlines Q2 Spending

    Petrus Resources Ltd. announced a second quarter 2019 capital budget of $7–$8 million, based on a current forecast for commodity futures pricing, anticipated service costs and current activity levels.

    March 14, 2019, 8:06 AM MDT

  • Cequence Boosts Liquids Weighting Due To Dunvegan Oil Play

    Focusing on its Dunvegan oil program, natural-gas weighted Cequence Energy Ltd. increased its liquids weighting in both the 2018 year and fourth quarter although overall production in both periods was down from the previous year.

    March 14, 2019, 12 AM MDT

  • Granite Spending Conservatively

    Granite Oil Corp. continues to manage volatility and uncertainty in the Canadian energy sector through conservative capital spending and by actively optimizing its EOR scheme and field operations.

    March 13, 2019, 9:40 AM MDT

  • Saturn Lays Out Capital Program For Q1

    Saturn Oil + Gas Inc.’s Q1 2019 capital expenditure budget is set at $10 million, to be allocated to drilling, completion, equip and tie-in of approximately nine gross (9.0 net) wells.

    March 7, 2019, 6:21 AM MST

  • Kelt To Re-Evaluate Spending Plans After Q1

    While Kelt Exploration Ltd. has not changed its previously reported guidance, the company will re-evaluate its spending plans for the remainder of 2019 after the first quarter is complete.

    March 6, 2019, 8:43 AM MST

  • Altura Lays Out Spending Plans For 2019

    Altura Energy Inc. announced an initial capital budget of $15 million for 2019, funded with forecasted cash flow from operating activities.

    March 5, 2019, 6:17 AM MST

  • Advantage Sets Production Record; Market Diversification Efforts Paying Off

    Advantage Oil & Gas Ltd. achieved record production levels in the fourth quarter and full-year 2018 while also gaining $59 million through marketing diversification initiatives.

    March 1, 2019, 9:05 AM MST

  • Encana To Focus Spending In 2019 On ‘Core 3’: Permian, Anadarko, Montney

    Encana Corporation’s full-year proforma capital budget for 2019 is $2.7 to $2.9 billion — this includes roughly $200 million associated with Newfield Exploration Co. operations from Jan. 1, 2019 through to the close of the transaction on Feb. 13.

    February 28, 2019, 6:11 AM MST

  • Despite Output Restrictions, Gear Says No Change To Guidance

    Production through January and February 2019 to date has been restricted by ongoing pipeline apportionments, temporarily reduced crude by rail takeaway, bouts of extreme cold weather and third party shut-ins.

    February 28, 2019, 12 AM MST

  • Oil Production, Reserves Weighting Grew In 2018, Says Tamarack Valley

    Tamarack Valley Energy Ltd. grew annual production by 20 per cent and increased its oil and natural gas liquids output by eight per cent in 2018, while reporting improved financial results driven by an increased liquids weighting.

    February 27, 2019, 11:41 AM MST

  • Journey Lowers Capex

    Journey Energy Inc. has lowered its capital spending plan by $10 million.

    February 27, 2019, 8:06 AM MST

  • Prairie Provident Capex Below Cash Flow

    Prairie Provident Resources Inc.’s capital budget of $18.9 million will underspend forecast 2019 cash flow by 12 per cent, or roughly $3 million.

    February 26, 2019, 6 AM MST

  • Strong Q4 For Enerplus

    Enerplus Corporation net income surged in the fourth quarter, along with funds flow, helping to boost 2018 results.

    February 25, 2019, 6 AM MST

  • Razor Spent $15.9 Million For 2018

    Razor Energy Corp. spent $15.9 million on exploration, development and acquisition activities in 2018.

    February 22, 2019, 7:10 AM MST

  • Tourmaline Grows Total Proved Reserves By 23 Per Cent

    After concentrating almost entirely on internal EP growth in 2017-2018, Tourmaline Oil Corp. says that over the past two years it has produced the best reserve metrics in the company's 10 year history despite the depressed natural gas price environment.

    February 21, 2019, 8:06 AM MST