Capital Spending

  • 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

  • Gas Producers Focused On Maintaining Disciplined Capital Budgets – DOB’s Weekly Guidance Report Now Available

    Three natural gas-weighted producers in Canada announced initial or revised budgets last week, with all touting their commitment to maintain strong financial positions in light of volatile prices.

    February 19, 2019, 11:21 AM MST

  • Bonavista Outlines Spending Plans For 2019

    Bonavista Energy Corporation’s 2019 capital program is forecasted to range between $130 and $170 million, of which approximately $110 to $130 million will be allocated to its “value capital program.”

    February 15, 2019, 6:10 AM MST

  • Peyto Continues To Build Reserves, Lower FD&A Costs

    Peyto Exploration & Development Corp. invested $232 million of total capital in 2018 to build 114 mmcf/d of natural gas and 4,800 bbls/d of NGLs at a cost of $9,800/boe/d, the lowest cost in company history.

    February 15, 2019, 8:51 AM MST

  • Birchcliff Spending Less Than Cash Flow For 2019

    Birchcliff Energy Ltd. says its 2019 capital program is focused on its high-value light oil assets in Gordondale and its condensate-rich assets in Pouce Coupe.

    February 14, 2019, 12 AM MST

  • Pine Cliff Outlines Spending Plans For The Coming Year

    Pine Cliff Energy Ltd.’s board of directors has approved a 2019 capital budget of $10 million that will be funded from adjusted funds flow.

    February 13, 2019, 7:29 AM MST

  • Many E&Ps Pressing ‘Reset’ On Their Capital Spending Plans – DOB’s Weekly Guidance Report Now Available

    Many companies are working through plans to reduce their capital budgets for 2019, especially those E&Ps that initially set guidance during a less volatile pricing environment.

    February 12, 2019, 9:38 AM MST

  • Advantage Lowers Capex Outlook

    Advantage Oil & Gas Ltd.’s 2019 net capital expenditures guidance range has been reduced to $185–$215 million from $210–$240 million as a result of accelerated spending.

    February 12, 2019, 7:13 AM MST

  • Obsidian Defers Capital Activity To Second Half Of 2019

    In light of the Alberta production curtailment, Obsidian Energy Ltd. is deferring a four-well pad with two Cardium wells and two Deep Basin wells to the second half of 2019.

    February 11, 2019, 5:57 AM MST

  • Unintended Consequences Of Production Quotas Mount, Put Investment Confidence At Further Risk: Imperial

    Alberta’s decision to temporarily curtail close to 10 per cent of oil output to stem a growing market access conundrum that led to a collapse in prices last fall has not only caused Imperial Oil Limited to reassess its production growth, but skews the market in unintended ways and could lead to longer term damage to the country's reputation, according to Rich Kruger, president and CEO.

    February 8, 2019, 11:56 AM MST