Capital Spending

  • Suncor To Spend $6.3B-$6.5B For 2024

    Suncor Energy Inc. outlined a $6.3-$6.5 billion capital spending program for 2024.

    December 5, 2023, 3:40 PM MST

  • Advantage Energy Outlines 2024 Budget

    Advantage Energy Ltd. has outlined capital plans of between $260 million and $290 million for 2024.

    December 1, 2023, 12 AM MST

  • Spartan Delta Outlines 2024 Capital Plan

    For 2024, Spartan Delta Corp.'s board has approved an initial capital budget of $130 million to drill and complete 19.2 net (21 gross) wells, resulting in annualized production of 39,500 boe/d, a seven per cent increase in corporate production versus H2 2023 guidance.

    November 29, 2023, 5:29 AM MST

  • MEG Energy Lays Out 2024 Spending Plan

    MEG Energy Corp. has outlined its 2024 capital spending plan.

    November 27, 2023, 3:32 PM MST

  • Logan Energy Lays Out 2024 Spending Plans

    Logan Energy Corp. has set a 2024 initial capital budget of $120 million. The budget is designed to deliver growth in Simonette, maintain production in Pouce Coupe and advance long term growth projects like Flatrock.

    November 23, 2023, 12 AM MST

  • Lycos Acquires Land Near Frog Lake

    Lycos Energy Inc. acquired an additional 8.5 net sections of land near its Frog Lake acreage for a total consideration of $3.5 million, before closing adjustments.

    November 23, 2023, 8:06 AM MST

  • Strathcona Improving Operational Efficiency, Increasing Production From Thermal Assets

    Strathcona Resources Ltd. is making operational improvements across its Cold Lake and Lloydminster operations to lower costs and add incremental production in near term, executives said at the company’s first conference call since becoming a public company.

    November 15, 2023, 8:30 AM MST

  • Certus Acquisition Will Not Alter Pine Cliff’s ‘Measured’ Approach To Capital Spending

    Pine Cliff Energy Ltd.’s third quarter drilling activity was limited to participating in one Ellerslie natural gas well (0.15 net) in its Edson area that came onstream at the end of October 2023.

    November 15, 2023, 9:02 AM MST

  • Strathcona To Focus On Growing Legacy Assets In 2024

    Strathcona Resources Ltd. expects to spend around $1.3 billion in 2024 to grow production to 190,000 to 195,000 boe/d, up from expected average fourth quarter 2023 production of approximately 185,000 boe/d.

    November 14, 2023, 7:01 AM MST

  • Birchcliff Outlines Preliminary Capital Plan For 2024

    Birchcliff Energy Ltd. is targeting F&D capital expenditures of $240 million to $260 million in 2024.

    November 14, 2023, 3:03 PM MST

  • Headwater Lifts 2023 Spending Plan

    Headwater Exploration Inc. lifted its planned 2023 spending plan by $10 million from $225 million to $235 million.

    November 10, 2023, 5:03 AM MST

  • Rubellite Lifts 2023 Capital Spending Slightly To Support Next Year’s Drilling

    Rubellite Energy Inc. expects to spend approximately $20 - $22 million in the fourth quarter of 2023 to drill, complete, equip and tie-in 11 (11.0 net) multi-lateral development infill and step-out wells at Figure Lake, unchanged from previous guidance.

    November 10, 2023, 5:20 AM MST

  • Journey Looking To Expand Duvernay Footprint

    Journey Energy Inc. says it continues to advance its repeatable plays, and is looking for opportunities to expand the company’s Duvernay footprint.

    November 10, 2023, 12 AM MST

  • InPlay Says Facility Upgrades To Assist With Production Improvements

    InPlay Oil Corp. says recent investments made in increasing natural gas takeaway capacity through two facility upgrades in Willesden Green will be important in alleviating potential production issues from third-party facility outages going forward.

    November 10, 2023, 12 AM MST

  • Gear Outlines 2024 Spending Plan

    Gear Energy Ltd. has set a 2024 capital budget of $57 million.

    November 10, 2023, 12 AM MST

  • Ovintiv To Focus On Montney Oil Window In 2024

    With lower natural gas prices persisting across North America, Ovintiv Inc. plans on focusing all its drilling efforts in condensate-rich areas of the Montney in 2024, company president and chief executive officer Brendan McCracken told analysts at the company’s third quarter 2023 conference call. 

    November 9, 2023, 8:06 AM MST

  • Peyto Announces 2024 Preliminary Budget And Plans

    Peyto Exploration & Development Corp.’s preliminary capital budget for 2024 includes a low-risk development program on both the recently acquired Repsol assets and the company’s legacy core properties.

    November 9, 2023, 8:13 AM MST

  • Crew Boosts 2023 Capex To Keep Running High-Spec Triple

    Crew Energy Inc. has increased its capital spending outlook for 2023.

    November 9, 2023, 12 AM MST

  • Kelt Outlines ‘Initial’ 2024 Budget

    Kelt Exploration Ltd. outlined an initial capital expenditure budget of $350.0 million for 2024.

    November 9, 2023, 6:13 AM MST

  • Obsidian Running 4 Rigs As Second Half Program Continues

    With an expanded second half 2023 capital program, Obsidian Energy Ltd.'s drilling preparation and execution began in July and continued through the third quarter, accelerating in October with four rigs in operation across its Peace River, Willesden Green, Pembina and Viking areas.

    November 9, 2023, 7:12 AM MST

  • NuVista Outlines 2024 Spending Plan

    NuVista Energy Ltd. has outlined its 2024 spending plan and adjusted its capital spending for 2023.

    November 8, 2023, 6:23 AM MST

  • Cardinal Establishes Thermal Operating Group; Targeting Reford Project

    Several years ago, Cardinal Energy Ltd. identified steam assisted gravity drainage (SAGD) as an area that could provide growth and further decrease decline levels.

    November 7, 2023, 6:09 AM MST

  • Cardinal Outlines 2024 Spending Plan

    For 2024, Cardinal Energy Ltd. laid out a planned conventional capital budget of $116 million with a further $68.5 million for the Reford thermal oil project.

    November 7, 2023, 6:21 AM MST

  • Growth Projects To Figure Prominently In Cenovus’s 2024 Capital Budget

    While Cenovus Energy Inc. won’t release its officials 2024 capital budget until next month, company officials expect it to be in the same range as this year at somewhere between $4.5-$5 billion.

    November 3, 2023, 12 AM MDT

  • ARC Resources Lowers Planned Spending For 2024

    ARC Resources Ltd. expects to spend between $1.75 to $1.85 billion in 2024 to maintain production in the 350,000 to 360,000 boe/d as it advances its Attachie project in northeastern B.C.

    November 3, 2023, 6:42 AM MDT

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