Capital Spending

  • Birchcliff Lays Out Preliminary Plans For 2020

    Birchcliff Energy Ltd. is currently in the process of finalizing its capital spending plans for 2020.

    November 15, 2019, 7:33 AM MST

  • Storm 2020 Capex Range At $75-$80MM

    Capital investment for Storm Resources Ltd. in 2020 is expected to be $75–$90 million (previous estimate was $80 million), which will be approximately equal to estimated funds flow at current strip pricing.

    November 13, 2019, 8:36 AM MST

  • Petrus To Spend $5.5 Million In Q4

    Petrus Resources Ltd.’s board of directors has approved a fourth quarter 2019 capital budget of $5.5 million, based on a current forecast for commodity futures pricing, anticipated service costs and current activity levels.

    November 13, 2019, 9:31 AM MST

  • DOB Launches 2020 Corporate Guidance Package

    During the upcoming 2020 guidance season, the Daily Oil Bulletin will again publish weekly updates to producers’ capital spending, drilling and production forecasts. The DOB provides coverage of both Canadian and U.S. operators.

    November 12, 2019, 11:35 AM MST

  • Imperial To Spend Less In 2020

    Imperial Oil Limited says it will spend less next year and has set a preliminary 2020 capital expenditure budget of between $1.6-$1.7 billion, down from 2019’s projected total of $1.8-$1.9 billion.

    November 12, 2019, 3:44 PM MST

  • NuVista Targets $300-$330 Million 2020 Capex

    NuVista Energy Ltd. plans to spend $300-$330 million in 2020 to achieve a production guidance range of 57,000 to 61,000 boe/d, with approximately 60 per cent of wells drilled next year in the Pipestone area.

    November 12, 2019, 10:44 AM MST

  • Perpetual Slashes Workforce 25%, Q3 Net Loss Widens

    Perpetual Energy Inc. has laid off one-quarter of its workforce while downgrading its 2019 guidance, the company announced in its third quarter results release.

    November 11, 2019, 9:10 AM MST

  • Enerplus Tightens Guidance, Capital Spending

    Enerplus Corporation’s third quarter production increased year-over-year on the growth of oil and natural gas liquids in North Dakota.

    November 11, 2019, 11:15 AM MST

  • ARC Approves $500 Million Capital Program For 2020

    ARC Resources Ltd.'s board of directors has approved a $500 million capital program for 2020 that centres around capital discipline, balance sheet strength, delivering profitable projects to shareholders, and generating funds from operations to fully fund its dividend and all capital requirements.

    November 8, 2019, 3:52 AM MST

  • Kelt Outlines 2020 Plans

    Kelt Exploration Ltd. announced an initial capital expenditure budget of $235 million for 2020.

    November 8, 2019, 6:39 AM MST

  • Reduced Need For Sustaining Capital Drives 7Gen $1.1 Billion 2020 Capital Budget

    Seven Generations Energy Ltd. is budgeting $1.1 billion for capital spending in 2020, down 12 per cent from its 2019 capital plan of $1.25 billion, reflecting its reduced sustaining capital requirements and continued commitment to generating free cash flow.

    November 7, 2019, 10:56 AM MST

  • Paramount Accelerates Drilling Program At Karr

    As a result of “capital efficiencies” in its 2019 capital program, Paramount Resources Ltd. has accelerated drilling operations for 10 (10.0 net) Montney wells at Karr into the fourth quarter of 2019 that were originally scheduled for 2020, while maintaining its 2019 base capital budget at $350 million.

    November 7, 2019, 7:39 AM MST

  • Gear Energy Drills 7 Heavy Oil Wells, One Light Well In Q3; Plans To Drill 5 In Q4

    Gear Energy Ltd. drilled seven heavy oil wells and one light oil well in Central Alberta in the third quarter of 2019.

    November 7, 2019, 12:23 PM MST

  • InPlay Cuts Capital Program, Still On Track To Meet Production Guidance

    InPlay Oil Corp. is on pace to meet its annual average production guidance while reducing its 2019 capital expenditure program by approximately 11 per cent to $32 million from $36 million.

    November 7, 2019, 7:02 PM MST

  • Peyto Sketches Out 2020 Plans

    While specifics of the 2020 budget are not yet finalized, a capital program of $250 million to $300 million, funded entirely from free cash flow, would add 25,000-30,000 boe/d, said Peyto Exploration & Development Corp. in its third quarter results.

    November 6, 2019, 4 PM MST

  • Tourmaline Lays Out 2020 Capital Program; Spending Expected To Be Lower

    Tourmaline Oil Corp. has approved a 2020 EP capital program of $900–$925 million which will result in 2020 average production of 315,000–322,500 boe/d, unchanged from prior 2020 production guidance.

    November 6, 2019, 3:10 PM MST

  • First Duvernay Horizontal Well Drilled By Bonavista

    Bonavista Energy Corporation drilled its first Duvernay horizontal well in the third quarter of 2019 as the company continued to focus on its most prolific and profitable opportunities.

    November 6, 2019, 9:12 AM MST

  • Journey Begins Work On Power Project At Countess

    During the third quarter, Journey Energy Inc. began work on a 4.5-megawatt power project at its Countess property.

    November 5, 2019, 9:50 AM MST

  • Crew Reports Strong Q3 Liquids Growth

    Crew Energy Inc.’s liquids volumes increased to 29 per cent of production for both the third quarter and year-to-date 2019, compared to 25 per cent during the same period last year, representing a 16 per cent increase.

    November 4, 2019, 9:39 AM MST

  • Mar Says Encana Decision A ‘Gut Punch’ For Sector, Curious Of PM’s Response

    While certainly a “gut punch” for Canada’s energy sector, Gary Mar is not surprised by Encana Corporation’s plans, announced on Thursday, to move its corporate domicile to the U.S.

    October 31, 2019, 3:56 PM MDT

  • MEG Shifts $30 Million Of Spending To Accelerate Completion Of Project At Phase 2B CPF

    MEG Energy Corp.  has shifted into 2019 roughly $30 million of expected 2020 capital expenditures to accelerate the completion of its in-progress brownfield project at the Phase 2B central processing facility, which includes incremental steam generation, water handling and oil treating capacity. 

    October 31, 2019, 7:50 AM MDT

  • Crescent Point Narrows Guidance For 2019

    Crescent Point Energy Corp. has narrowed its guidance range for 2019 with production of 161,000 to 163,000 boe/d and capital expenditures of $1.225–$1.275 billion, reflecting continued operational execution and capital discipline.

    October 31, 2019, 11:11 AM MDT

  • Whitecap Enters Deep Basin JV, Sets 2020 Capital Budget

    Whitecap Resources Inc. has entered a joint venture with a progressive private company with a large land footprint in the oil-rich Montney window in the Deep Basin.

    October 31, 2019, 10:43 AM MDT

  • Yangarra Lays Out Spending Plan For 2020; Lifts 2019 Budget

    Yangarra Resources Ltd. has approved a capital budget of $120 million for 2020.

    October 31, 2019, 8:33 AM MDT

  • Vermilion Lowers Capex For 2019, Lays Out 2020 Plan

    Vermilion Energy Inc. has reduced its 2019 capital investment guidance by $10 million to $520 million.

    October 31, 2019, 7:01 AM MDT