MEG Energy Corp. is dropping its capital plan by 20 per cent to $200 million from the original $250 million budget announced in November 2019.
March 11, 2020, 3:36 AM MDT
Seven Generations Energy Ltd. has reduced its 2020 capital investment budget by 18 per cent, or $200 million, to $900 million.
March 11, 2020, 3:45 AM MDT
TransGlobe Energy Corporation now plans to spend $7.1 million (before capitalized G&A) and includes $5 million for Egypt and $2.1 million for Canada.
March 11, 2020, 3:55 AM MDT
Bonterra Energy Corp. has committed to spending capital of approximately $25 million and will defer any additional drilling or completions capital investment until pricing is more supportive.
March 11, 2020, 9:22 AM MDT
Cenovus Energy Inc. is reducing its 2020 capital spending guidance by 32 per cent to maintain the strength of its balance sheet.
March 10, 2020, 3:45 AM MDT
March 10, 2020, 8:24 AM MDT
Journey Energy Inc. says it has deferred its first-half 2020 drilling plans of $10 million to $11 million and is re-evaluating all future expenditures in the context of the current market while continuing its focus on the East Duvernay basin.
March 10, 2020, 2:40 PM MDT
Surge Energy Inc. is shifting spending from the first quarter into the second half of 2020 and reduced its dividend in response to the recent volatility stemming from the COVID-10 outbreak.
March 10, 2020, 1:40 PM MDT
Kelt Exploration Ltd. will re-evaluate its spending plans for the remainder of 2020 after the first quarter is complete, but is currently planning to defer certain capital expenditures that were previously expected to be incurred in the second quarter of 2020 to the second half of 2020.
March 9, 2020, 7:57 AM MDT
Altura Energy Inc.’s 2019 production averaged 1,742 boe/d (70 per cent oil and liquids), consistent with guidance of 1,700 to 1,800 boe/d and representing a 49 per cent increase from average 2018 production on an absolute and per share basis.
March 9, 2020, 9:02 AM MDT
Due to volatile oil prices, Canadian Natural Resources Limited has reduced its 2020 oilsands mining and upgrading capital budget by $100 million and could further reduce spending if market conditions warrant.
March 5, 2020, 11:47 AM MST
Paramount Resources Ltd.’s capital budget for 2020 is expected to range between $350 million and $450 million, excluding land acquisitions and abandonment and reclamation activities.
March 4, 2020, 7:42 AM MST
Several U.S.-based producers reported their 2020 guidance at the end of February, with many shale-focused companies announcing year-over-year cuts in capital spending — and that was before any impacts on demand due to the coronavirus.
March 3, 2020, 10:58 AM MST
On the heels of deals to bulk up its Montney asset base, Tourmaline Oil Corp. announced on Tuesday that is was deferring some planned Q1 spending due to lower commodity prices.
March 3, 2020, 4:01 PM MST
Journey Energy Inc. has a first half 2020 exploration and development spending plan of $10–$11 million.
February 25, 2020, 7:13 AM MST
Ovintiv Inc. has set its 2020 planned capital investment program at US$2.7 billion with 80 per cent of the spending allocated to development programs in the U.S. and more than 75 per cent earmarked for its three core assets — the Permian, Anadarko and Montney.
February 20, 2020, 10:32 AM MST
Peyto Exploration & Development Corp. noted that the coronavirus outbreak in China and an oversupply of natural gas in North America have caused commodity prices for WTI oil, NYMEX gas and AECO gas to fall sharply since Peyto announced its 2020 capital budget.
February 20, 2020, 7:44 AM MST
Kelt Exploration Ltd. has reduced its 2020 capital expenditure forecast to $225 million from $235 million, in part to reflect the planned 2020 expenditures that were brought forward and incurred in 2019.
February 20, 2020, 8:17 AM MST
Petrus Resources Ltd. says it plans to drill two (two net) Cardium light oil wells in the Ferrier area of west-central Alberta with an approved first quarter 2020 capital budget of $9 million.
February 19, 2020, 10:19 AM MST
Bonavista Energy Corporation has set a target to spend between $100 million and $120 million – with the majority allocated to its West Central core area – on its exploration and development (E&D) program in 2020.
February 14, 2020, 6 PM MST
Bonterra Energy Corp. announced an initial 2020 capital budget of $70 million.
February 13, 2020, 7:50 AM MST
Pine Cliff Energy Ltd.’s board of directors has approved a 2020 capital budget of $10.2 million that is expected to be funded from adjusted funds flow.
February 13, 2020, 8 AM MST
International Petroleum Corporation says it plans to look at a facility expansion at its Onion Lake, Saskatchewan thermal project to accelerate production to 16,000 bbls/d and then proceed to drill sustaining well pads over 20 plus years.
February 12, 2020, 7:04 AM MST
International Petroleum Corporation says it plans to spend US$93 million (62 per cent) of its $149 million 2020 capital budget in Canada.
February 11, 2020, 11:14 AM MST
Suncor Energy Inc. has put the brakes on a $2-billion project to add a coker unit at its Montreal refinery facility and will instead seek other opportunities to enhance its integrated asset base.
February 11, 2020, 11:42 AM MST