Capital Spending

  • Exxon Plans To Raise Spending In 2023 Closer To $25 Billion

    December 8, 2022, 5:37 AM MST

  • Tamarack Valley Outlines 2023 Spending Plan

    Tamarack Valley Energy Ltd. plans to invest capital of $425 to $475 million in 2023, funded entirely through adjusted funds flow and equal to approximately 50 to 60 per cent of total 2023 adjusted funds flow at budget pricing of US$80/bbl WTI and C$4/GJ AECO.

    December 7, 2022, 12 AM MST

  • Cenovus Forecasts Higher Capital Spending In 2023

    Cenovus Energy Inc. plans to invest between $4.0 billion and $4.5 billion in 2023, up 21 per cent from a range of $3.3 billion to $3.7 billion in 2022.

    December 6, 2022, 7:08 AM MST

  • Advantage Outlines 2023 Spending Plan

    Advantage Energy Ltd. plans to spend between $250 million and $280 million for 2023, representing a payout ratio of under 50 per cent prior to share buybacks.

    December 2, 2022, 12 AM MST

  • CNRL Outlines 2023 Spending Plan

    Canadian Natural Resources Limited outlined a 2023 capital spending plan of $5.2 billion consisting of approximately $4.2 billion in base capital and approximately $1.0 billion in strategic growth capital.

    November 30, 2022, 12 AM MST

  • Suncor’s 2023 Budget ‘Reflects A Thorough Review’ Of Assets, Performance Targets

    Suncor Energy Inc.’s 2023 capital guidance of $5.4-5.8 billion was calculated and determined under an expanded lens and by a partly re-tooled management team, the company’s interim president and CEO Kris Smith told an investors day event Tuesday.

    November 30, 2022, 12:58 PM MST

  • Spartan Delta Launches ‘Strategic Repositioning Alternatives’ Process

    Spartan Delta Corp. has started a formal process to evaluate strategic repositioning alternatives in an effort to enhance shareholder value.

    November 30, 2022, 6:05 AM MST

  • Kiwetinohk Lowers Upstream Capex

    Kiwetinohk Energy Corp.’s Upstream division capital spending guidance range for the year has been reduced by $10 million, or 3.5 per cent, to a range of $265 - $280 million.

    November 17, 2022, 12 AM MST

  • Rubellite Outlines Spending Plan To Continue Two-Rig Program

    Rubellite Energy Inc. plans to spend approximately $33.0 to $41.0 million to continue its two-rig drilling program through to the end of the first quarter of 2023 to drill, complete, equip and tie-in 17 (14.9 net) multilateral horizontal development/infill wells at Figure Lake and Marten Hills and to execute its four to six (3.0 to 4.0 net) well northern exploration program.

    November 14, 2022, 12 AM MST

  • Tenaz Capital For 2023 Focusing On Leduc-Woodbend

    Tenaz Energy Corp. announced a capital budget of $16 - $18 million for 2023.

    November 14, 2022, 9:04 AM MST

  • Peyto Estimates 2023 Spending Of $425–$475 Million With More Activity In Summer Months

    While its official 2023 budget is still being finalized, Peyto Exploration & Development Corp. currently anticipates an organic capital program of $425–$475 million, which will use between four and five drilling rigs throughout the year.

    November 10, 2022, 11:35 AM MST

  • Pine Cliff Lifts 2022 Spending Outlook

    Pine Cliff Energy Ltd. approved an increase in its 2022 capital expenditure budget from $29.5 million to $31.5 million.

    November 10, 2022, 12 AM MST

  • Petrus Sets 2023 Capital Spending Plans

    Petrus Resources Ltd.’s board of directors has approved a capital budget for 2023 of $130 million to $135 million.

    November 10, 2022, 12 AM MST

  • Kelt Sets Initial 2023 Spending Plan

    Kelt Exploration Ltd. announced an initial capital expenditure budget of $310.0 million for 2023.

    November 10, 2022, 8:52 AM MST

  • Active Capital Program For Bonterra In Q3

    Bonterra Energy Corp.’s capital expenditures in the first nine months of 2022 totaled $67.1 million and included $48.9 million directed to the drilling of 23 gross (22.7 net) wells and the completion, equip, and tie-in of 28 gross (27.7 net) wells, with six of the completed and equipped wells having been drilled late in 2021.

    November 10, 2022, 12 AM MST

  • Ovintiv Sees Slight Uptick In Production; Capex At High End Of Range

    Ovintiv Inc.’s full year capital investment is expected to total approximately $1.8 billion, at the high end of the previous capital guidance range.

    November 9, 2022, 8:05 AM MST

  • NuVista Sets Capex Range For 2023, Ups 2022 Forecast

    NuVista Energy Ltd.’s capital expenditure guidance for 2023 is set at a range of $425 - $450 million.  

    November 9, 2022, 7:09 AM MST

  • Cardinal Sets 2023 Budget

    Cardinal Energy Ltd. announced a 2023 capital budget of $97 million.

    November 9, 2022, 12 AM MST

  • Pipestone Boosts 2022 Spending Plan; Outlines 2023 Capex

    Pipestone Energy Corp. is increasing its capital expenditure guidance for 2022, from $225 - $235 million to an estimate of $240 million.

    November 9, 2022, 7:48 AM MST

  • Birchcliff Continued Advancing Capital Program In Q3

    Birchcliff Energy Ltd.’s F&D capital expenditures were $85.3 million in Q3 2022, which included drilling eight (8.0 net) wells and bringing 19 (19.0 net) wells on production.

    November 9, 2022, 2:25 PM MST

  • Obsidian Bumps Up Capital Spending For 2022; Busy Development Program Continues

    Obsidian Energy Ltd. has bumped up its capital expenditure range.

    November 8, 2022, 7 AM MST

  • Perpetual Outlines 2023 Spending Plan

    Perpetual Energy Inc.'s board of directors approved a capital budget of $29–$32 million for 2023, including $5–$7 million to be spent in the first quarter for pipeline infrastructure and to drill two (1.0 net) wells at East Edson.

    November 8, 2022, 12 AM MST

  • Baytex Ups 2022 Spending As Inflationary Pressures Mount

    Baytex Energy Corp. now anticipates full-year 2022 exploration and development expenditures of approximately $515 million, up three per cent from the previously targeted $500 million which represented the high-end of the company’s prior guidance range of $450-$500 million.

    November 4, 2022, 10:58 AM MDT

  • ARC’s 2023 Budget Positions For 2% Production Growth

    The ARC Resources Ltd.’s board of directors has approved the company’s preliminary 2023 capital budget of $1.8 billion.

    November 4, 2022, 9:50 AM MDT

  • Headwater Releases Preliminary 2023 Budget

    Headwater Exploration Inc. outlined an initial capital budget for 2023 of $200 million resulting in 2023 annual average production of 18,000 boe/d (92 per cent heavy oil).

    November 4, 2022, 12 AM MDT

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