Capital Spending

  • Saskatchewan Series: Province’s Assets Remain Core To Crescent Point, Baytex

    Two of the larger players in Saskatchewan’s oilpatch are increasingly optimistic about the go-forward outlook in the province.

    March 31, 2022, 12 AM MDT

  • Background: Vermilion Acquiring Leucrotta

    Vermilion Energy Inc. has entered into an arrangement agreement to acquire Leucrotta Exploration Inc. for a net cash purchase price of $477 million.

    March 28, 2022, 4:05 AM MDT

  • CFO: Last Year ‘Transformative’ For Kiwetinohk

    An amalgamation and acquisition in 2021 helped Kiwetinohk Energy Corp. post major gains in production both last quarter and for the year.

    March 24, 2022, 3:01 PM MDT

  • Hemisphere Spent $12 Million At Atlee Buffalo Program In 2021

    In 2021, Hemisphere Energy Corporation invested $12 million in its Atlee Buffalo core area, including drilling seven wells, implementing a polymer flood in the Upper Mannville G oil pool, and upgrading facilities to accommodate additional oil production.

    March 16, 2022, 8:50 AM MDT

  • Perpetual Spending Plan ‘Up To’ $28 Million

    Perpetual Energy Inc.'s board of directors has approved exploration and development capital spending of up to $28 million for 2022 to be fully funded from adjusted funds flow.

    March 15, 2022, 4:14 PM MDT

  • Cardinal Boosts Capital Plan

    Cardinal Energy Ltd. has approved a marginal increase to its capital program for 2022.

    March 15, 2022, 8:06 AM MDT

  • Saturn Lays Out 2022 Capital Plan

    Saturn Oil & Gas Inc. has outlined a 2022 capital expenditures budget totalling $50 million.

    March 14, 2022, 5:15 AM MDT

  • Petrus Closes Acquisition Of Cardium Assets In Ferrier

    Petrus Resources Ltd. has closed its previously announced acquisition of a privately owned limited partnership and its general partner for total consideration of approximately $14.4 million, consisting of the issuance of 10 million common shares of the company.

    March 14, 2022, 6:30 PM MDT

  • Journey Boosts Capital Spending Plan

    Journey Energy Inc. has increased its 2022 capital budget to $43 million from $36 million and now plans to drill 15 wells. 

    March 10, 2022, 12 AM MST

  • Kelt Lifts Capex Outlook

    Kelt Exploration Ltd. has increased its 2022 capital expenditure program to $250.0 million, up from a range of $200.0 million to $210.0 million in its previous guidance.

    March 10, 2022, 5:43 AM MST

  • Peyto Purchases Private Junior In Brazeau River Area

    Subsequent to year end 2021, Peyto Exploration & Development Corp. successfully negotiated and closed the purchase of a private junior producer in the Brazeau River area for $22 million.

    March 9, 2022, 4:13 PM MST

  • Pipestone Boosting Spending Outlook

    Pipestone Energy Corp. is increasing its 2022 capital guidance range to $210 - $220 million (up from $180 - $200 million).

    March 9, 2022, 6:02 AM MST

  • Record Funds Flow For Pine Cliff

    Pine Cliff Energy Ltd.’s adjusted funds flow of $26.3 million generated during the fourth quarter of 2021 and $59.1 million for 2021 were the highest quarterly and annual adjusted funds flow for the company since inception.

    March 9, 2022, 12 AM MST

  • Active Q1 Program For Crew

    Crew Energy Inc.’s first quarter capital expenditures are expected to constitute approximately 60 per cent of the program’s full year total, with the remainder to be directed to projects with superior returns at Greater Septimus or Groundbirch in the second half of 2022.  

    March 8, 2022, 3:16 PM MST

  • Petrus Outlines Spending Plan

    Petrus Resources Ltd.’s board of directors has approved a 2022 capital budget of $50 to $55 million.

    March 8, 2022, 2:31 PM MST

  • Privately Held B-32 Set To Launch Operations As A Pure-Play Duvernay Entity

    As a privately-held startup oil and gas entity, B-32 Exploration Ltd. is laser-focused on central Alberta’s Duvernay play.

    March 3, 2022, 12 AM MST

  • Tourmaline Acquired Small Assets, Grew Production And Cash Flow In Q4

    Over the past few months, Tourmaline Oil Corp. has been active in acquiring what it calls complementary assets.

    March 3, 2022, 11:46 AM MST

  • Despite Commodity Price Surge, Yangarra Not Budging From 30-Well Program

    Yangarra Resources Ltd. remains committed to a “disciplined” one-rig, 30 well program, with the balance of free-cash flow generated to be used for debt retirement until the company achieves its debt targets.

    March 3, 2022, 3:31 PM MST

  • Athabasca Maintains Spending Outlook, Including Turnaround At Leismer

    Athabasca Oil Corporation is maintaining its previously announced $128 million capital program in 2022, including a turnaround at Leismer.

    March 2, 2022, 4:31 PM MST

  • Paramount Lifts Dividend

    Paramount Resources Ltd.’s board of directors has approved an increase in the company's regular monthly dividend to eight from six cents per common share.

    March 2, 2022, 6:07 AM MST

  • Exxon Outlines New Cost Cutting To Drive Profit After Russia Exit

    March 2, 2022, 1:57 PM MST

  • Kaybob Duvernay To Play Important Role For Crescent Point Going Forward

    When Crescent Point Energy Corp. announced its $900-million acquisition of Shell plc’s Kaybob Duvernay assets in Alberta in February of 2021 it signaled a new core area for the company, one which has quickly climbed the ranks of priority within its asset base.

    March 1, 2022, 6 AM MST

  • Whitecap Could Look For More M&A Opportunities; Capex Could Be Lifted

    After going on a $2 billion acquisition spree over the past year-and-a-half, Whitecap Resources Inc. may not be done as the company continues to evaluate the merger and acquisition market and could pursue more deals, the company’s Q4 and year-end 2021 conference call heard Thursday.

    February 25, 2022, 12 AM MST

  • Prairie Provident Outlines Budget, Updates Non-Core Sales Process

    Prairie Provident Resources Inc. outlined a fully-funded capital budget set at $18 million, before capitalized general and administrative (G&A) expenses and asset retirement obligations (ARO), expected to generate average production between 4,350 – 4,600 boe/d.

    February 23, 2022, 12 AM MST

  • Peyto Confirms Capex Program For 2022; Reports Reserves

    Peyto Exploration & Development Corp.’s board approved a 2022 capital budget of $350-$400 million which, at the high end of the range, is 10 per cent greater than the $365 million invested in 2021.

    February 17, 2022, 12 AM MST

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