Capital Spending

  • Kiwetinohk Provides 2022 Guidance

    Kiwetinohk Energy Corp. has set a 2022 capital expenditures budget of $210–$240 million (subject to commodity prices after hedging), including $10–$20 million allocated to green energy.

    January 12, 2022, 9:33 AM MST

  • InPlay’s 2022 Capital Budget To Focus On Cardium ERH Wells

    InPlay Oil Corp. has approved a $58 million capital program for 2022, which is forecasted to deliver 2022 average production of 8,900–9,400 boe/d — 62–63 per cent light oil and liquids.

    January 12, 2022, 10:41 AM MST

  • CNRL Plans To Spend $4.3 Billion This Year, Increase Output By 5%

    Given a strong commodity price outlook and an expected continued rebound in demand, Canadian Natural Resources Limited is targeting total capital expenditures of approximately $4.3 billion in 2022, an increase from estimated spending of $3.48 billion last year.

    January 11, 2022, 11:21 AM MST

  • NuVista Provides Operational Update; Debt Reduction Exceeds Expectations

    NuVista Energy Ltd. says it achieved record production in Q4/2021 with the continued startup of new production from multi-well pads in Pipestone North and Elmworth, reaching a quarterly average of just over 60,000 boe/d based on field estimates.

    January 11, 2022, 8:08 AM MST

  • Kiwetinohk Outlines Preliminary 2022 Drilling Plans

    Kiwetinohk Energy Corp. says its 2022 capital program includes the drilling of 11 gross wells and completing, and connecting 10 gross wells for production, while continuing work toward final investment decisions on power and hydrogen projects.

    January 10, 2022, 7:36 AM MST

  • Imperial Outlines 2022 Capital Plans

    Imperial Oil Limited’s capital spending is forecast at $1.4 billion for 2022, reflecting continued capital discipline and efficient project execution, the company announced this morning.

    December 17, 2021, 6:02 AM MST

  • Bonterra Outlines 2022 Spending Plan

    Bonterra Energy Corp. outlined 2022 capital guidance ranging from $55 to $65 million, which incorporates measured capital allocation with the optionality to adjust spending dependent on the strength of the commodity markets as recovery from the COVID-19 pandemic continues.

    December 16, 2021, 5:24 AM MST

  • Cenovus Focuses On Disciplined Approach, Shareholder Returns In 2022 Capital Plan

    Cenovus Energy Inc.’s 2022 capital budget of between $2.6-$3 billion reflects a disciplined approach that is designed to improve shareholder returns while maintaining output in the 800,000 boe/d range, president and CEO Alex Pourbaix told the company’s investor day event this morning.

    December 8, 2021, 11:22 AM MST

  • Cenovus’s Five-Year Plan ‘Leverages The Evolution Of Our Business’: CEO

    Cenovus Energy Inc.’s updated five-year plan released this morning signals the continuing evolution of the company in its quest to reduce debt, return capital to shareholders while maintaining and improving operational excellence and ESG performance, says the company’s top executive.

    December 8, 2021, 11:29 AM MST

  • Cenovus Outlines 2022 Spending, 5-Year Plan

    Cenovus Energy Inc. this morning released its 2022 budget, updated corporate strategy, five-year business plan and environmental, social and governance (ESG) targets.

    December 8, 2021, 4:29 AM MST

  • Crew Outlines 2022 Spending Plan

    Crew Energy Inc.’s board approved a 2022 capital expenditure budget ranging between $70 and $95 million, in-line with its established two-year plan.

    December 8, 2021, 3:08 PM MST

  • Woodside Petroleum To Invest $5B In New Energy By 2030

    December 8, 2021, 12 AM MST

  • Advantage Energy To Focus On Increasing Liquids Revenue In 2022

    Advantage Energy Ltd.’s 2022 capital program will be focused on growing adjusted funds flow per share by continuing to drill high rate-of-return targets in areas with existing infrastructure capacity. 

    December 7, 2021, 12 AM MST

  • Crescent Point Sets 2022 Budget At $825–$900 Million, Increases Dividend

    Crescent Point Energy Corp. has set its 2022 capital expenditures budget at $825–$900 million, which remains unchanged from the preliminary 2022 guidance.

    December 6, 2021, 9:01 AM MST

  • Exxon To Continue Annual Capex At $20 Billion To $25 Billion Through 2027

    December 1, 2021, 5:33 AM MST

  • Yangarra Set To Drill 30 Gross Wells For 2022

    Yangarra Resources Ltd. outlined a capital budget of $105 million for 2022, which includes the drilling of 30 gross wells.

    December 1, 2021, 5:10 AM MST

  • Baytex Energy Sets 2022 Capital Budget Of $400 To $450 Million

    Baytex Energy Corp. has outlined a 2022 capital budget of $400 to $450 million, which is designed to generate average annual production of 80,000 to 83,000 boe/d.

    December 1, 2021, 3:39 PM MST

  • Athabasca Lays Out 2022 Capital Plan

    Athabasca Oil Corporation has set a capital program of $128 million for 2022.

    December 1, 2021, 3:54 PM MST

  • Chevron Raises Spending Budget And Share Buybacks

    December 1, 2021, 4:09 PM MST

  • MEG To Increase Spending To $375 Million Next Year; Will Initiate Share Buyback Program

    MEG Energy Corp. has set its 2022 capital budget at $375 million, a $40 million increase from planned spending of $335 million this year.

    November 30, 2021, 9:16 AM MST

  • Vermilion Outlines 2022 Capital Spending Plan

    Vermilion Energy Inc.’s board of directors has approved an E&D capital budget of $425 million for 2022, which is in line with the preliminary outlook it provided with its Q3 2021 results.

    November 29, 2021, 6:47 AM MST

  • Hemisphere Energy Accelerates 2022 Drilling Program

    Due to rig availability constraints and projected cost increases in 2022, Hemisphere Energy Corporation has recently accelerated a portion of its 2022 capital spending plans and commenced a drilling program in the Atlee F pool for up to four wells during the fourth quarter of 2021.

    November 25, 2021, 5:51 AM MST

  • Petrobras Boosts Payouts And Spending Under New Plan

    November 25, 2021, 8:13 AM MST

  • Perpetual On Track For 2021 Spending Plan Of $15-$18 Million

    Exploration and development capital spending for Perpetual Energy Inc. for full year 2021 is expected to be $15 to $18 million, excluding spending recorded in Perpetual's consolidated third quarter financial statements related to Rubellite Energy Inc.'s Clearwater assets prior to the effective date of the plan of arrangement.

    November 12, 2021, 6:13 AM MST

  • Birchcliff Outlines Preliminary 2022 Capital Plans

    Birchcliff Energy Ltd. is currently targeting F&D capital spending of $240 million to $260 million for 2022, which takes into account expected increases in materials, labour and services costs compared to the current year.

    November 11, 2021, 12 AM MST

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