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
Pipestone Energy Corp.’s Q4 2020 production averaged 17,734 boe/d (31 per cent condensate, 44 per cent total liquids), the highest quarterly production since inception.
February 10, 2021, 9:22 AM MST
Despite a strengthening crude oil price environment both Suncor Energy Inc. and Imperial Oil Limited said last week they have no current plans to increase 2021 spending levels.
February 9, 2021, 10:44 AM MST
Cenovus Energy Inc. generated full-year adjusted funds flow of $147 million compared with $3.7 billion a year earlier.
February 9, 2021, 5:52 AM MST
February 5, 2021, 9:26 AM MST
Suncor Energy Inc. will not be increasing its 2021 capital spending plan beyond the current range, president and CEO Mark Little said this morning.
February 4, 2021, 9:59 AM MST
CNOOC Limited’s total capital expenditure for 2021 is budgeted at RMB90 billion to RMB100 billion.
February 4, 2021, 6 AM MST
On Jan. 27, U.S. President Joe Biden signed a new raft of executive actions to combat climate change, including pausing new oil and gas leases on federal land and cutting fossil fuel subsidies, as he pursues green policies he billed as a boon for job creation.
February 2, 2021, 8:27 AM MST
Imperial Oil Limited reported net losses of $1.15 billion and $1.86 billion for Q4 and year-end 2020, reflecting a non-cash impairment charge of $1.17 billion after-tax in the fourth quarter, which relates to a previously-announced decision to no longer develop a significant portion of the company’s unconventional portfolio.
February 2, 2021, 8:20 AM MST