Capital Spending

  • Spartan Delta Outlines Pro Forma Capex Plan

    Spartan Delta Corp.’s  capital expenditure budget and guidance for 2023 is presented on a pro forma basis, accounting for the forthcoming distribution of the cash proceeds of the asset sale and the shares and warrants of Logan Energy Corp. to Spartan's shareholders.

    May 17, 2023, 5:27 AM MDT

  • Rubellite Approves Spending Plan For Remainder of 2023

    Rubellite Energy Inc.’s board of directors has approved capital spending for the remainder of 2023 of $30 to $32 million to drill, complete, equip and tie-in an additional 17 (17.0 net) multi-lateral development / step-out wells at Figure Lake and $4 to $6 million to drill up to three (2.0 net) multi-lateral Northern exploratory wells.

    May 12, 2023, 12 AM MDT

  • Petrus Reviewing Capital Budget; Has Already Deferred Some Spending

    The current price environment and outlook for the remainder of the year is materially lower than the assumptions used to develop Petrus Resources Ltd.’s 2023 capital budget.

    May 12, 2023, 6:11 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

  • Athabasca Expects Stronger WCS Prices In Back Half Of 2023

    Athabasca Oil Corporation expects Western Canadian Select (WCS) prices to strengthen in the back half of 2023 and into 2024.

    May 11, 2023, 6:11 AM MDT

  • NuVista Sticking With 2023 Guidance After Reporting Strong First Quarter Results

    NuVista Energy Ltd. is going full steam ahead with its 2023 capital expenditure program after reporting positive financial and operating results in the first quarter.

    May 10, 2023, 8:50 AM MDT

  • New CEO Kruger Aims To Make Suncor ‘The Best Of The Best’

    While only six weeks into the job, Suncor Energy Inc.’s new president and CEO, Rich Kruger, has hit the ground running and has some lofty goals going forward in his quest to improve the company’s safety and operational performance.

    May 9, 2023, 10:16 AM MDT

  • ARC’s Attachie Assets Will Grow To Rival Kakwa Production, Says President & CEO

    ARC Resources Ltd.’s Attachie assets in northeast B.C. have the potential to grow to the size of its Kakwa condensate-rich assets in Alberta, which currently account for more than half the company’s almost 340,000 boe/d of production, president and chief executive officer Terry Anderson told analysts at ARC’s first quarter conference call.

    May 5, 2023, 10:10 AM MDT

  • ARC Resources Maintains Priority On Returning Cash To Shareholders In First Quarter

    Lower commodity prices took a bite out of ARC Resources Ltd.’s operating cash flow and free cash flow in the first quarter of 2023, but the company continued delivering cash back to investors through share buybacks and increased dividends.

    May 5, 2023, 9:21 AM MDT

  • ARC Sanctions Attachie Phase 1

    ARC Resources Ltd.’s board has approved the sanction of Attachie Phase 1.

    May 4, 2023, 3:38 PM MDT

  • Gear Lowers Capex Forecast For 2023

    In light of ongoing commodity price volatility, Gear Energy Ltd. has strategically reduced its planned 2023 capital expenditures by 12 per cent to $58 million.

    May 4, 2023, 7:44 AM MDT

  • MEG Remains On Track For Moderate Production Growth; Inflationary Pressures Remain An Issue

    MEG Energy Corp. has reiterated its previously-disclosed plan to grow output at a moderate, sustainable pace on its way to average output of 120,000 bbls/d over the next two to three years.

    May 3, 2023, 8:39 AM MDT

  • Whitecap Shifts Activity To Oil Plays As Lower Prices Take Bite Out Of Earnings

    Whitecap Resources Inc. delayed activity on its recently acquired Montney natural gas assets and turned its attention to its oil assets in Saskatchewan and central Alberta in the first quarter of 2023 as gas prices tumbled in the quarter.

    April 27, 2023, 9:06 AM MDT

  • No M&A Plans In Near Future For Whitecap As It Integrates New Montney And Duvernay Assets

    Whitecap Resources Inc. is taking a break from deal-making in 2023 after a flurry of post-pandemic activity, company president and chief executive officer Grant Fagerheim told analysts at the company’s first quarter 2022 conference call Thursday.

    April 27, 2023, 2:02 PM MDT

  • Yangarra Lowers Spending Plans For 2023

    As a result of the increased snowfall during the past winter season, Yangarra Resources Ltd. made the decision to curtail capital spending until field conditions improve.

    April 27, 2023, 12 AM MDT

  • CEO Interview: Crescent Point’s Top Executive Craig Bryksa Discusses Duvernay ‘Gem’

    It’s not an overstatement to say that Crescent Point Energy Corp. had a very good month in March for bold announcements and satisfactory reviews of its five-year growth and strategy planning.

    April 12, 2023, 6 AM MDT

  • Ovintiv Deal: Transaction Overview

    Here are highlights of Ovintiv Inc.’s Permian deal announced this morning.

    April 3, 2023, 5:28 AM MDT

  • Hammerhead To Run 2-Rig Program

    Hammerhead Energy Inc.'s 2023 capital program is development-focused with a continuous two-rig program expected to drill approximately 40 wells.

    April 3, 2023, 9:38 AM MDT

  • Journey Updates Guidance

    Commensurate with the closing of its flow through share issuance on March 23, 2023, Journey Energy Inc. has updated its 2023 guidance.

    April 3, 2023, 5:50 AM MDT

  • Crescent Point Acquiring Spartan Delta’s Oil And Liquids-Rich Montney Assets In Alberta For $1.7 Billion

    Crescent Point Energy Corp. has entered into an agreement with Spartan Delta Corp. to acquire Spartan's oil and liquids-rich Montney assets in Alberta for $1.7 billion in cash.

    March 28, 2023, 5:08 AM MDT

  • Pieridae Energy Improves Balance Sheet Despite Production Slowdown In Q4 2022

    Last year saw “transformational” financial results for Pieridae Energy Limited, driven by strong gas and liquids pricing, the company's ability to control costs in an inflationary year, and a revitalized hedging program.

    March 23, 2023, 6 AM MDT

  • Pieridae Plans To Defer Maintenance Turnaround At Waterton

    Pieridae Energy Limited has revised annual net operating income (NOI) and netback guidance to reflect a lower commodity price forecast for the remainder of the year and is planning to defer certain expenditures into 2024, including investigating deferral of the maintenance turnaround at Waterton, which has been reflected in revised guidance.

    March 22, 2023, 5:50 AM MDT

  • International M&A Top Priority For Tenaz

    International M&A will continue to be the top priority for Tenaz Energy Corp.

    March 22, 2023, 6:07 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

  • Rubellite On Track For $17-$20 million Q1 Spending

    Rubellite Energy Inc. is on track to spend a total of $17 - $20 million in Q1 2023 capital expenditure to drill, complete, equip and tie-in six (6.0 net) multi-lateral development/step-out wells at Figure Lake and the three (2.5 net) multi-lateral exploratory program which has already been completed.

    March 10, 2023, 12 AM MST

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