Suncor Energy Inc. expects a 2021 capital program of between $3.8 and $4.5 billion, which will largely be comprised of sustaining capital of $2.9 to $3.4 billion — this includes in situ well pads.
November 30, 2020, 3:34 PM MST
Exxon Mobil Corporation has completed a review of its forward business plans and will prioritize near-term capital spending on “advantaged assets” with the highest potential future value, including developments in Guyana and the U.S. Permian Basin, targeted exploration in Brazil and Chemicals projects to grow high-value performance products.
November 30, 2020, 2:58 PM MST
Obsidian Energy Ltd. will increase its 2020 capital program by $3.2 million to begin drilling activity on the first pad within its Central Alberta Willesden Green asset.
November 30, 2020, 10 AM MST
U.S. shale operators’ drilling and completions capex, which enjoyed strong levels in 2019 at US$98.7 billion, will more than halve in 2020, Rystad Energy projects, and decline to just US$45.2 billion.
November 24, 2020, 10:57 AM MST
Imperial Oil Limited plans to spend an average of up to about $1.4 billion annually over the 2020-2024 period, down 30 per cent from last year’s view, as it looks to invest for value and select volume growth, analysts heard Thursday.
November 20, 2020, 6 AM MST
In light of the recent strength of natural gas prices and a relatively enticing forward strip, some Canadian natural gas-weighted producers are increasing capital programs or, in the case of Canadian Natural Resources Limited, diverting more spending to its natural gas assets.
November 17, 2020, 9:58 AM MST
While specifics of its 2021 budget are not yet finalized, Peyto Exploration & Development Corp.’s president and CEO says the company is currently considering a 2021 capital program of $300-$350 million which would be funded entirely from free cash flow.
November 12, 2020, 10:47 AM MST
Although Birchcliff Energy Ltd. has not yet finalized its 2021 capital spending plans, it is currently targeting F&D capital spending of $200 million to $220 million and an annual average production rate of 78,000 to 80,000 boe/d.
November 12, 2020, 3:36 PM MST
Tamarack Valley Energy Ltd. is accelerating $9.4 million of capital from its Q1 2021 program into Q4 2020 to take advantage of stronger winter gas pricing and lower service costs.
November 11, 2020, 5:45 AM MST
Guidance season officially kicked off last week with several producers announcing 2021 budgets, as well as a stated focus next year on free cash flow generation.
November 10, 2020, 11:13 AM MST
Kelt Exploration Ltd. has approved a capital expenditure budget of $90 million for 2021.
November 10, 2020, 7:25 AM MST
Enerplus Corporation has increased its 2020 annual production guidance following a successful North Dakota well program, which is outperforming expectations.
November 9, 2020, 6 AM MST
Seven Generations Energy Ltd. has set a 2021 capital budget of $650 million capital budget, unchanged from this year.
November 9, 2020, 11:40 AM MST
ARC Resources Ltd. has approved a capital budget for 2021 that will range from $375 million to $425 million and focus on maximizing the generation of surplus funds from operations.
November 6, 2020, 5:41 AM MST
Paramount Resources Ltd. expects to finalize its 2021 capital budget and related guidance in the first quarter of 2021. Based on preliminary planning and current market conditions, the company anticipates 2021 capital spending, excluding land acquisitions and abandonment and reclamation activities, to range between $225 million and $275 million.
November 6, 2020, 7:19 AM MST
Despite the effects of COVID-19-related market disruption and mandatory production curtailments Canadian Natural Resources Limited achieved quarterly production volumes of 1.111 million boe/d in Q3, up from 1.176 boe/d a year earlier.
November 5, 2020, 10:46 AM MST
Spartan Delta Corp.’s capital expenditures are budgeted to be $40 – $43 million in 2021 and are expected to be fully funded by cash provided by operating activities.
November 5, 2020, 6:29 AM MST
Tourmaline Oil Corp.’s 2020 EP capital program has been increased to $835 million from $800 million.
November 4, 2020, 4:17 PM MST
Pine Cliff Energy Ltd. expects its capital expenditure program for 2020 will total $7.6 million, lower than guidance of $10.2 million, with the drilling of one (1.0 net) Pekisko oil well in Central Alberta being deferred at this time.
November 4, 2020, 12 AM MST
Baytex Energy Corp. has resumed drilling activity in the fourth quarter after two quarters of little to no capital spending in Canada.
November 3, 2020, 11:23 AM MST
Obsidian Energy Ltd. says it benefited from the success of its development program earlier in the year and its lower cost structure in the third quarter of 2020 which more than offset the impact of lower commodity prices, year-over-year.
November 3, 2020, 8:38 AM MST
Whitecap Resources Inc. has increased its 2020 average production guidance to 67,500 to 68,000 boe/d from 65,000 to 67,000 boe/d thanks to the strong performance of its base production and associated decline rate in the third quarter.
October 30, 2020, 10:51 AM MDT
Advantage Oil & Gas Ltd.’s 2021 net capital expenditures will target approximately 75 per cent of adjusted funds flow (AFF) and is expected to be 10–15 per cent below forecast 2020 spending of $134.5 million.
October 30, 2020, 9:26 AM MDT
Yangarra Resources Ltd. says it has reduced drilling and completions costs by 20–25 per cent as compared to pre COVID-19 wells as a result of the addition of a construction division, revised well designs, water handling improvements and a variety of other structural cost saving initiatives.
October 30, 2020, 9:42 AM MDT
October 30, 2020, 8:03 AM MDT