The majority of Vermilion Energy Inc.’s 2020 North American drilling program was executed during the first half of the year with limited new production added during the second half of the year.
March 9, 2021, 8:36 AM MST
Surge Energy Inc. is completing a low-risk $39 million development drilling capital program in the first half of 2021, adding estimated production of more than 3,200 boe/d — roughly 90 per cent medium/light oil — from 32 gross (32.0 net) wells.
March 5, 2021, 6:41 AM MST
Yangarra Resources Ltd. set its 2021 capital budget at $60 million prior to the announcement of multiple COVID-19 vaccines when WTI prices hovered around US$45/bbl.
March 4, 2021, 3:32 PM MST
Athabasca Oil Corporation is forecasting a 2021 capital budget of $100 million ($95 million Thermal Oil and $5 million Light Oil), up from the previous estimate of $75 million.
March 4, 2021, 6:06 AM MST
Paramount Resources Ltd.’s Montney-focused capital budget for 2021 is expected to range between $230-$260 million, excluding land acquisitions and abandonment and reclamation activities.
March 3, 2021, 8:42 AM MST
NuVista Energy Ltd. has increased capital spending for 2021 to between $230 million and $250 million from the original range of $180 million to $200 million.
March 3, 2021, 10:07 AM MST
MEG Energy Corp.’s adjusted funds flow was $278 million in 2020 compared to $726 million in 2019.
March 3, 2021, 4 PM MST
Storm Resources Ltd.’s production in the first quarter of 2021 is forecast to average 25,000 to 27,000 boe/d while capital investment is estimated to be $25 million (45 per cent allocated to the Fireweed area).
March 3, 2021, 5:53 AM MST
Although crude oil and natural gas prices have improved substantially from early pandemic lows, some North American E&Ps say they have no intention of raising capex even as spot and future prices escalate.
March 2, 2021, 9:41 AM MST
Tamarack Valley Energy Ltd. continues to be active in the Clearwater play with 12 wells rig released out of a planned 16-well first quarter $18 million program.
March 1, 2021, 12 AM MST
Petrus Resources Ltd.’s board of directors has approved a first quarter 2021 capital budget of $9 million to drill three gross (2.1 net) Cardium wells in its Ferrier area.
March 1, 2021, 12 AM MST
Advantage Oil & Gas Ltd. is reducing its 2021 capital guidance range to $115 million to $135 million from $125 million to $150 million.
February 26, 2021, 6:18 AM MST
Whitecap Resources Inc. expects its capital expenditures in 2021 of approximately $280–$300 million to generate average production of approximately 100,000 boe/d.
February 25, 2021, 10:19 AM MST
On a day in which it announced it was unloading its Duvernay assets, Ovintiv Inc. reported lower Canadian output overall, including from its dominant asset in Canada, the Montney.
February 18, 2021, 12 AM MST
While 2020 was a year in which many oil-weighted juniors focused on survival, 2021 is shaping up to be a “year of opportunity,” where Gear Energy Ltd. says it should again have the option of balancing excess free funds flow towards multiple strategic directions, including continued debt reduction, accelerated capital investment and associated growth or other returns to shareholders.
February 18, 2021, 2:33 PM MST
Capital spending in Teck Resources Limited’s energy business unit in 2021 is expected to be $85 million, focused on tailings infrastructure and work to transition to the next mining area at Fort Hills.
February 18, 2021, 6:10 AM MST
Seven Generations Energy Ltd. reported lower financial results in a tough 2020 market environment, while production decreased by nine per cent for the year.
February 18, 2021, 6:51 AM MST
Crescent Point Energy Corp. has entered into an agreement with Shell Canada Energy, an affiliate of Royal Dutch Shell plc, to acquire Shell's Kaybob Duvernay assets in Alberta for $900 million.
February 17, 2021, 3:14 PM MST
Peyto Exploration & Development Corp. has planned a 2021 capital budget of $325-$350 million, inclusive of acquisitions, which at the high end is 48 per cent higher than the $236 million invested in 2020.
February 17, 2021, 4:16 PM MST
While Canadian natural gas producers saw price spikes last week due to frigid weather, some analysts say structural issues should continue to support gas prices during 2021.
February 17, 2021, 11:17 AM MST
February 17, 2021, 8:34 AM MST
Spartan Delta Corp. has more than doubled its expected 2021 capital spending program from its previous outlook.
February 16, 2021, 2:50 PM MST
Pine Cliff Energy Ltd.’s board of directors has approved a 2021 capital budget of $13 million that is expected to be fully funded from adjusted funds flow.
February 11, 2021, 6:22 AM MST
ARC Resources Ltd. and Seven Generations Energy Ltd. outlined a pro forma 2021 capital spending estimate of $1 billion to $1.1 billion, which will primarily be focused on sustaining production at the companies’ core operating properties.
February 10, 2021, 7:55 PM MST
Hemisphere Energy Corporation’s capital spending for 2020 was minimal at $1.5 million, with the remainder of funds flow allocated to debt repayment.
February 10, 2021, 8:57 AM MST
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