Capital Spending

  • Whitecap Boosts 2021 Spending, Sets 2022 Capital Program At $470–$490 Million

    Whitecap Resources Inc. plans to spend $470–$490 million in 2022 and has accelerated its fourth quarter 2021 capital program in light of strong commodity prices and a desire to secure needed services and supplies, the company announced this morning.

    October 14, 2021, 11:02 AM MDT

  • Oilsands Majors Accrue $7.8 Billion In Free Cash Flow

    Canada’s oilsands majors continue to generate huge amounts of free cash flow in 2021.

    October 13, 2021, 6 AM MDT

  • InPlay In Cardium Acquisition

    InPlay Oil Corp. is acquiring Prairie Storm Resources Corp., a light-oil Cardium focused producer with operations primarily in the Willesden Green area of central Alberta, for total net consideration of approximately $40.5 million.

    September 28, 2021, 3:05 PM MDT

  • Tourmaline Hikes 2021 EP Capital Spending Program

    Tourmaline Oil Corp.’s 2021 EP capital program has been increased to $1.375 billion with the 2H 2021 increase focused on liquids business/production increases and related liquids margin improvements, and the modest acceleration of drilling activities. 

    September 22, 2021, 4:13 PM MDT

  • Crescent Point Outlines Preliminary 2022 Capital Plans

    Crescent Point Energy Corp. is expecting to generate annual average production of 131,000–135,000 boe/d in 2022 based on development capital expenditures of $825–$900 million.

    September 13, 2021, 5 AM MDT

  • Ovintiv Lays Out ‘Capital Allocation Framework’

    Beginning in the fourth quarter of 2021 — and until Ovintiv Inc. reaches its $3 billion net debt target — the company plans to return 25 per cent of the previous quarter's free cash flow after base dividends to its shareholders through share buybacks and/or variable dividends.

    September 10, 2021, 9:47 AM MDT

  • 2021 Results Leave InPlay With ‘Strong Foundation’ For 2022

    InPlay Oil Corp.’s 2021 results provide the company with a strong foundation heading into 2022, the company said in an update.

    September 9, 2021, 12 AM MDT

  • Rubellite Plans Second Half Spending Of $18-$22 Million

    Rubellite Energy Inc. has approved second half 2021 capital expenditures of $18 to $22 million.

    September 7, 2021, 6:06 AM MDT

  • Advantage Boosts 2021 Capital Guidance

    Advantage Energy Ltd. has increased its 2021 capital guidance range by $20 million.

    September 1, 2021, 5:20 AM MDT

  • Spartan Delta Closes Velvet Deal, Announces Tuck-In Deep Basin Acquisition

    Spartan Delta Corp. has closed its previously announced acquisition of Velvet Energy Ltd., a privately held light-oil Montney producer with operations primarily in the Gold Creek, Karr and Pouce Coupe areas of northwest Alberta.

    September 1, 2021, 10:44 AM MDT

  • Oxbow Deal Makes For ‘Historic’ Q2, Says Saturn; Company Reactivating Shut-In Production

    Saturn Oil & Gas Inc. experienced a “historic quarter” in Q2 2021, says executive management, as the company completed its Oxbow asset acquisition, providing a “substantial platform” for future growth via drilling opportunities and production and production-optimization projects.

    August 31, 2021, 11:17 AM MDT

  • Perpetual, Rubellite Expect Active Capital Programs In Back Half Of 2021

    Perpetual Energy Inc. and Rubellite Energy Inc. are both expected to have active capital programs over the balance of the year.

    August 17, 2021, 6:59 AM MDT

  • Vermilion May Add Capital Later In The Year, If Commodity Prices Hold

    Vermilion Energy Inc.’s E&D capital budget remains unchanged at $300 million, but the company may still consider adding up to $50 million of incremental capital in Q4 2021 if commodity prices “remain supportive.”

    August 16, 2021, 6:59 AM MDT

  • Peyto’s Q2 Drilling Program Less Active Than Expected But Production ‘Held Up Pretty Well’

    Peyto Exploration & Development Corp.’s second quarter production “held up pretty well” despite the seasonal impacts of spring breakup and the loss of two rigs during the period due to maintenance and upgrades that took longer than anticipated to complete, says president and CEO Darren Gee.

    August 12, 2021, 11:14 AM MDT

  • Storm Boosts Capital Plan

    Storm Resources Ltd. is increasing its 2021 capital plan to a range of $110 to $115 million from $85 to $90 million.

    August 12, 2021, 5:11 AM MDT

  • Petrus Outlines Q3 Budget

    Petrus Resources Ltd. set a capital budget of $7.5 million in Q3 for the drilling of four gross (1.5 net) Ferrier wells and investment in facility expansion in North Ferrier.

    August 12, 2021, 6:47 AM MDT

  • Pipestone Energy Lifts 2021 Capital Spending Plan

    Pipestone Energy Corp. has updated its guidance for 2021 and refined its three-year plan.

    August 11, 2021, 6:33 AM MDT

  • InPlay Boosts Production Outlook

    InPlay Oil Corp.’s strong results in the first half of 2021 and continuing in the second half of 2021 from the Pembina drills have allowed the company to increase its 2021 annual average production guidance to between 5,500 and 5,750 boe/d (68 per cent light oil and NGLs).

    August 11, 2021, 12:56 PM MDT

  • Birchcliff Expects Debt To Decline As Free Funds Flow Rises

    Birchcliff Energy Ltd. expects to reduce debt as its free funds flow climbs—the company says it remains committed to “capital discipline.”

    August 11, 2021, 2:30 PM MDT

  • Journey Plans 2022 Return To The Field

    Journey Energy Inc. plans on returning to the field in early 2022 and this should increase both production and the oil weighting to pre-pandemic levels over time.

    August 11, 2021, 12 AM MDT

  • Headwater Increases Capital Budget

    Headwater Exploration Inc. is increasing its capital budget to $130 million from $110 million, allowing for the acceleration of an oil processing facility. 

    August 6, 2021, 12 AM MDT

  • Canadian Natural Boosts Spending By $275 Million

    With the positive outlook for commodity prices for the remainder of 2021, Canadian Natural Resources Limited has increased its 2021 capital budget by $275 million to $3.48 billion as the company undertakes lead activities for future growth opportunities.

    August 5, 2021, 11:28 AM MDT

  • Crew Boosts Spending Guidance

    Crew Energy Inc. has increased its capital spending plan to $150 to $170 million from $120 to $145 million.

    August 5, 2021, 5:12 AM MDT

  • Kelt Lifts Spending Plan

    Kelt Exploration Ltd.’s board of directors has approved an increase to the company's capital expenditure program for 2021.

    August 5, 2021, 5:20 AM MDT

  • Kelt’s Production Up For Q2

    Kelt Exploration Ltd.'s average production for the three months ended June 30, 2021 was 19,592/d, up four per cent from average production of 18,860 boe during the first quarter of 2021 and up 19 per cent from average production of 16,476 boe during the fourth quarter of 2020.

    August 5, 2021, 6:02 AM MDT

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.