In response to the decrease in oil prices, Razor Energy Corp. has shut in all of its operated heavy oil production, along with certain light oil wells which are sub-economic at current prices.
April 29, 2020, 12 AM MDT
Journey Energy Inc. has shut-in approximately 1,500 boe/d (73 per cent oil and NGL) of its production effective the first week of April.
April 27, 2020, 7:46 PM MDT
Obsidian Energy Ltd. has taken further proactive action to shut-in currently uneconomic production with a focus on preserving its balance sheet and improving financial flexibility.
April 23, 2020, 6:42 AM MDT
Enerplus Corporation is further reducing its 2020 capital budget by an additional $25 million to $300 million.
April 22, 2020, 5:10 AM MDT
As a result of reducing operations to a single-train facility at Fort Hills and to minimize negative cash flow, Teck Resources Limited has reduced its planned 2020 capital spending in the energy business unit to $85 million from $175 million.
April 21, 2020, 9:06 AM MDT
Crescent Point Energy Corp.’s capital expenditures for 2020 are now forecast to be $650 to $700 million, or $75 million below its recently revised guidance of $700 to $800 million, based on the mid-point of the range.
April 20, 2020, 5:58 AM MDT
ConocoPhillips says it is cutting back production at its Surmont SAGD project in Canada due to low Western Canada Select prices and wide differentials and by May expects to reduce production by approximately 100,000 bbls/d of oil (gross) to 35,000 bbls/d.
April 16, 2020, 11:37 AM MDT
Gear Energy Ltd. has chosen to immediately pursue reductions to the variable costs of the business in an effort to maximize funds from operations.
April 16, 2020, 8:51 AM MDT
Peyto Exploration & Development Corp. has lowered its capital program and dividend in response to the effects of the COVID-19 pandemic on near term hydrocarbon demand and commodity prices.
April 15, 2020, 3:44 PM MDT
Surge Energy Inc. is suspending its dividend (approximately $33.5 million in annualized savings when combined with the previously announced March 9 dividend reduction) until such time as management and board see a sustainable recovery in world crude oil prices.
April 15, 2020, 12 AM MDT
Surviving and adapting to new challenges, crises and realities is nothing new for oil and gas companies operating in Canada.
April 13, 2020, 7:44 AM MDT
Advantage Oil & Gas Ltd. is selling a 12.5 per cent interest in the Glacier gas plant to a strategic partner for $100 million cash proceeds.
April 13, 2020, 7:50 AM MDT
Kelt Exploration Ltd. has no immediate plans to start up drilling and completion operations on wells that currently remain in its budget until there is better clarity on future commodity prices which have been negatively impacted by global oil demand destruction as a result of the COVID-19 pandemic.
April 9, 2020, 7:17 AM MDT
Petrus Resources Ltd.’s board of directors has approved a second quarter 2020 capital budget of $500,000, which provides for non-discretionary maintenance capital only.
April 9, 2020, 7:28 AM MDT
While many oil and gas producers have halted their drilling programs with the collapse in oil prices, two natural gas weighted companies, Birchcliff Energy Ltd. and Peyto Exploration & Development Corp., are still in the field, an energy symposium heard Tuesday.
April 8, 2020, 12 AM MDT
April 7, 2020, 8:20 AM MDT
April 7, 2020, 8:06 AM MDT
Cenovus Energy Inc. has decided to reduce its planned 2020 capital spending by an additional $150 million which, combined with the $450 million reduction announced March 9, is a $600 million decrease from the budget released in December.
April 2, 2020, 4:12 AM MDT
TransGlobe Energy Corporation has rig released a two-mile Cardium development well.
April 2, 2020, 12 AM MDT
Due to the significant decline in oil prices combined with the economic uncertainty associated to the ongoing COVID crisis, Athabasca Oil Corporation has decided to suspend the Hangingstone SAGD operation.
April 2, 2020, 4:23 PM MDT
As a result of the COVID-19 pandemic, Yangarra Resources Ltd.’s Calgary office has been reduced to two people with the remainder of the team working remotely to ensure the business continues to function and employees stay safe.
April 1, 2020, 5:17 PM MDT
Petrus Resources Ltd.’s planned disposition of its oil and natural gas interests in the Foothills area has been canceled by the buyer.
April 1, 2020, 7:22 AM MDT
Murphy Oil Corporation has made an additional reduction in the 2020 capital plan down to the new midpoint of $780 million from the previously announced $950 million in March 2020.
April 1, 2020, 5:21 PM MDT
Latest guidance data from Evaluate Energy suggests that COVID-19 and the price crash are going to have a huge impact on development and growth plans for junior and smaller intermediate producers, with capital budgets being slashed across the market.
March 31, 2020, 11:17 AM MDT
Imperial Oil Limited lowered its 2020 spending plan to $1.1 billion to $1.2 billion, a $500 million reduction from original guidance of $1.6 billion to $1.7 billion.
March 31, 2020, 6:53 AM MDT