Cenovus Energy Inc. has decided to reduce its planned 2020 capital spending by an additional $150 million which, combined with the $450 million reduction announced March 9, is a $600 million decrease from the budget released in December.
April 2, 2020, 4:12 AM MDT
TransGlobe Energy Corporation has rig released a two-mile Cardium development well.
April 2, 2020, 12 AM MDT
Due to the significant decline in oil prices combined with the economic uncertainty associated to the ongoing COVID crisis, Athabasca Oil Corporation has decided to suspend the Hangingstone SAGD operation.
April 2, 2020, 4:23 PM MDT
As a result of the COVID-19 pandemic, Yangarra Resources Ltd.’s Calgary office has been reduced to two people with the remainder of the team working remotely to ensure the business continues to function and employees stay safe.
April 1, 2020, 5:17 PM MDT
Petrus Resources Ltd.’s planned disposition of its oil and natural gas interests in the Foothills area has been canceled by the buyer.
April 1, 2020, 7:22 AM MDT
Murphy Oil Corporation has made an additional reduction in the 2020 capital plan down to the new midpoint of $780 million from the previously announced $950 million in March 2020.
April 1, 2020, 5:21 PM MDT
Latest guidance data from Evaluate Energy suggests that COVID-19 and the price crash are going to have a huge impact on development and growth plans for junior and smaller intermediate producers, with capital budgets being slashed across the market.
March 31, 2020, 11:17 AM MDT
Imperial Oil Limited lowered its 2020 spending plan to $1.1 billion to $1.2 billion, a $500 million reduction from original guidance of $1.6 billion to $1.7 billion.
March 31, 2020, 6:53 AM MDT
Delphi Energy Corp. says it has concluded completion operations on its first three (three net) Montney wells in the 2020 drilling program and expects to have them all placed on production by month’s end.
March 27, 2020, 10:35 AM MDT
March 27, 2020, 7:51 AM MDT
March 27, 2020, 8:38 AM MDT
March 26, 2020, 7:59 AM MDT
Suncor Energy Inc.’s revised capital program is expected to be between $3.9 and $4.5 billion, a $1.5 billion or 26 per cent decrease compared to the original 2020 capital guidance midpoint.
March 24, 2020, 12 AM MDT
March 24, 2020, 7:56 AM MDT
A flurry of announced capital budget cuts from Canadian-based producers have totaled over $6 billion in reductions over the past few weeks as operators responded to an oil market that was hammered by the COVID-19 outbreak and the oil price war between Saudi Arabia and Russia.
March 23, 2020, 7:37 AM MDT
March 23, 2020, 8:42 AM MDT
March 23, 2020, 8:49 AM MDT
As shown in the last two weekly POST reports, producers have been busy pulling back on planned drilling projects recently, as COVID-19 demand destruction and the ongoing Russia-Saudi oil price war impedes the industry.
March 20, 2020, 8:34 AM MDT
Athabasca Oil Corporation announced a $30 million reduction to its 2020 capital program and is proactively curtailing heavy oil production at Hangingstone.
March 20, 2020, 6:06 AM MDT
Light oil-focused InPlay Oil Corp. says it no longer plans $35 million in capital spending in 2020, instead managing spending and adjusting its capital program accordingly throughout the year, deferring any capital decisions for the second half of this year.
March 20, 2020, 5:59 AM MDT
Perpetual Energy Inc. approved a capital spending program of $6 million for the first quarter of 2020 to drill four (4.0 net) multi-lateral horizontal wells at Ukalta.
March 20, 2020, 12 AM MDT
Citing the need to preserve financial liquidity, Baytex Energy Corp. says it is reducing its 2020 capital budget by 50 per cent at the midpoint to between $260 million and $290 million, from the original $500 million to $575 million announced in December 2019.
March 19, 2020, 6:45 AM MDT
Tamarack Valley Energy Ltd. has lowered its spending guidance to $95 million-$105 million, down from the previous $170 million-$180 million.
March 19, 2020, 12 AM MDT
Paramount Resources Ltd. lowered its 2020 capital guidance to a range of $185 million to $250 million, a reduction of approximately 46 per cent at mid-point from the originally planned range of $350 million to $450 million.
March 19, 2020, 5:48 AM MDT
Imperial Oil Limited is currently in a low capital investment period, however the company is currently reviewing spending plans in an effort to identify further efficiency opportunities.
March 19, 2020, 6:51 AM MDT