In the U.S., natural gas producers expect a major demand boost for the remainder of the decade they hope will return prices to more sustainable levels and allow them to boost production.
March 28, 2024, 6 AM MDT
Strathcona Resources Inc.’s anticipated 2024 capital budget of $1.3 billion continues to progress as planned though the company has deferred some activity due to weak natural gas prices.
March 27, 2024, 10:54 AM MDT
Petrus Resources Ltd.’s total average annual production increased by 35 per cent to 10,301 boe/d in 2023, compared to 7,604 boe/d in 2022, in line with 2023 production guidance.
March 27, 2024, 6:01 AM MDT
Rubellite Energy Inc. expects exploration and development capital spending to be approximately $12 - $13 million in the first quarter of 2024.
March 15, 2024, 12 AM MDT
With approximately 70 per cent of its production hedged at almost $4/mcf and some of the lowest costs in the industry, Peyto Exploration & Development Corp. has no current plans to cut its 2024 capital spending like other gas focused operators.
March 12, 2024, 12 AM MDT
As a result of Headwater Exploration Inc.’s success in accumulating incremental lands year to date in 2024, the board of directors has approved an expansion of the company's 2024 capital budget from $180 million to $200 million.
March 8, 2024, 12 AM MST
In the first half of 2024, Surge Energy Inc. continues to execute an active drilling program in both the Sparky and SE Saskatchewan core areas, with 29.7 net wells budgeted to be drilled.
March 7, 2024, 5:23 AM MST
Coelacanth Energy Inc. outlined a capital budget of up to $128 million to be invested in 2024 and Q1 2025.
March 7, 2024, 12 AM MST
Yangarra Resources Ltd. continues to refine its drilling approach resulting in a dramatic reduction in drilling times and drilling costs.
March 7, 2024, 5:12 AM MST
Paramount Resources Ltd. has shut-in dry gas production due to lower natural gas prices.
March 6, 2024, 7:29 AM MST
Tourmaline Oil Corp. is cutting forecast capital spending from $2.35 billion to $2.13 billion in 2024 due to current low natural gas prices, the company said in its year-end 2023 earnings report.
March 6, 2024, 3:31 PM MST
Pine Cliff Energy Ltd. 's board of directors has approved a 2024 capital expenditure budget of $17.5 million, including $7.0 million of abandonment and reclamation spending.
March 5, 2024, 5:08 AM MST
Advantage Energy Ltd. has announced it is reducing its capital spending for 2024 by $40 million at the midpoint without changing its production guidance for the year or, president and CEO Michael Belenkie added, compromising the company’s long-term adjusted funds flow [AFF] per share.
March 5, 2024, 11:03 AM MST
MEG Energy Corp. reached a milestone in 2023 as average production grew by six per cent, averaging over 100,000 bbls/d for the first time and exiting the year at approximately 110,000 bbls/d.
March 1, 2024, 9:03 AM MST
Tamarack Valley Energy Ltd. has pulled back expectations around its capital spend this year.
March 1, 2024, 5 AM MST
Spartan Delta Corp. is reducing its 2024 forecast operating costs by nine per cent to $6.07/boe and reducing its capital expenditures, before A&D, by $5 million to $125 million, exclusive of Duvernay activity, while production guidance remains unchanged at 38,500 – 40,500 boe/d.
February 27, 2024, 12 AM MST
In response to lower forecasted natural gas prices, Kelt Exploration Ltd. has reduced its 2024 capital expenditure program to $325.0 million, down seven per cent from its previous budget of $350.0 million.
February 22, 2024, 5:56 AM MST
Gear Energy Ltd. maintained its 2024 capital and abandonment expenditures at $57 million
February 22, 2024, 6 AM MST
Petrus Resources Ltd. plans 2024 capital spending of $40 million to $50 million, of which approximately 90 per cent will be allocated toward drilling new wells in its Ferrier and North Ferrier areas.
February 22, 2024, 12 AM MST
Whitecap Resources Inc.’s 2024 capital budget is now expected to be $900 million to $1.1 billion, which is about $100 million lower than originally budgeted, to partially offset the cost of a Viking acquisition the company closed in the fourth quarter.
February 21, 2024, 3:33 PM MST
Peyto Exploration & Development Corp. delivered strong reserves growth across all categories in 2023 from its successful drilling program and the strategic acquisition of Repsol Canada Energy Partnership.
February 16, 2024, 6:28 AM MST
Birchcliff Energy Ltd.’s F&D capital expenditures were $304.6 million in 2023, including $58.2 million in the fourth quarter.
February 15, 2024, 6:40 AM MST
Greenfire Resources Ltd. is forecasting 2024 average consolidated net production of 22,000 - 25,000 bbls/d, which assumes capital expenditures of between $70 and $90 million, reflecting annual production growth of 25 per cent to 40 per cent over consolidated net production in 2023, which averaged approximately 17,700 bbls/d.
February 9, 2024, 12 AM MST
Crew Energy Inc.’s approved 2024 budget includes net capital expenditures of $165 to $185 million and incorporates a conservative drilling and completions program as well as $60 to $70 million in strategic electrification and infrastructure expansion projects.
February 9, 2024, 6 AM MST
With commodities prices currently testing bottom-decile levels due to North American supply growth and an exceptionally warm winter, Advantage Energy Ltd. is pursuing meaningful reductions to its capital program.
February 7, 2024, 12 AM MST
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