Encana Corporation’s full-year proforma capital budget for 2019 is $2.7 to $2.9 billion — this includes roughly $200 million associated with Newfield Exploration Co. operations from Jan. 1, 2019 through to the close of the transaction on Feb. 13.
February 28, 2019, 6:11 AM MST
Production through January and February 2019 to date has been restricted by ongoing pipeline apportionments, temporarily reduced crude by rail takeaway, bouts of extreme cold weather and third party shut-ins.
February 28, 2019, 12 AM MST
Tamarack Valley Energy Ltd. grew annual production by 20 per cent and increased its oil and natural gas liquids output by eight per cent in 2018, while reporting improved financial results driven by an increased liquids weighting.
February 27, 2019, 11:41 AM MST
Journey Energy Inc. has lowered its capital spending plan by $10 million.
February 27, 2019, 8:06 AM MST
Prairie Provident Resources Inc.’s capital budget of $18.9 million will underspend forecast 2019 cash flow by 12 per cent, or roughly $3 million.
February 26, 2019, 6 AM MST
Enerplus Corporation net income surged in the fourth quarter, along with funds flow, helping to boost 2018 results.
February 25, 2019, 6 AM MST
Razor Energy Corp. spent $15.9 million on exploration, development and acquisition activities in 2018.
February 22, 2019, 7:10 AM MST
After concentrating almost entirely on internal EP growth in 2017-2018, Tourmaline Oil Corp. says that over the past two years it has produced the best reserve metrics in the company's 10 year history despite the depressed natural gas price environment.
February 21, 2019, 8:06 AM MST
Three natural gas-weighted producers in Canada announced initial or revised budgets last week, with all touting their commitment to maintain strong financial positions in light of volatile prices.
February 19, 2019, 11:21 AM MST
Bonavista Energy Corporation’s 2019 capital program is forecasted to range between $130 and $170 million, of which approximately $110 to $130 million will be allocated to its “value capital program.”
February 15, 2019, 6:10 AM MST
Peyto Exploration & Development Corp. invested $232 million of total capital in 2018 to build 114 mmcf/d of natural gas and 4,800 bbls/d of NGLs at a cost of $9,800/boe/d, the lowest cost in company history.
February 15, 2019, 8:51 AM MST
Birchcliff Energy Ltd. says its 2019 capital program is focused on its high-value light oil assets in Gordondale and its condensate-rich assets in Pouce Coupe.
February 14, 2019, 12 AM MST
Pine Cliff Energy Ltd.’s board of directors has approved a 2019 capital budget of $10 million that will be funded from adjusted funds flow.
February 13, 2019, 7:29 AM MST
Many companies are working through plans to reduce their capital budgets for 2019, especially those E&Ps that initially set guidance during a less volatile pricing environment.
February 12, 2019, 9:38 AM MST
Advantage Oil & Gas Ltd.’s 2019 net capital expenditures guidance range has been reduced to $185–$215 million from $210–$240 million as a result of accelerated spending.
February 12, 2019, 7:13 AM MST
In light of the Alberta production curtailment, Obsidian Energy Ltd. is deferring a four-well pad with two Cardium wells and two Deep Basin wells to the second half of 2019.
February 11, 2019, 5:57 AM MST
Alberta’s decision to temporarily curtail close to 10 per cent of oil output to stem a growing market access conundrum that led to a collapse in prices last fall has not only caused Imperial Oil Limited to reassess its production growth, but skews the market in unintended ways and could lead to longer term damage to the country's reputation, according to Rich Kruger, president and CEO.
February 8, 2019, 11:56 AM MST
NuVista Energy Ltd. has reduced its capital spending for 2019 to a planned range of $300–$325 million. Last November, the company set its budget in a broad range of $300 million to $400 million.
February 7, 2019, 7:33 AM MST
Hemisphere Energy Corporation completed its 14-well drilling program in the fall of 2018 setting up an expansion into high-quality drilling locations.
February 6, 2019, 8:35 AM MST
Imperial Oil Limited was ramping up its crude-by-rail activity even faster than expected at the end of 2018, with the company responsible for approximately half of total volumes moving out of Western Canada. But in a dramatic shift, Imperial says it is now rapidly ramping down, and expects to reach zero bbls moving by rail this month.
February 1, 2019, 11:24 AM MST
February 1, 2019, 11:52 AM MST
Oilsands companies continue to announce reductions to 2019 spending budgets due to market conditions: volatile prices and a lack of takeaway capacity.
January 29, 2019, 6 AM MST
Enerplus Corporation has set its 2019 capital budget at between $565-$635 million, in line with the $593.9 million the company spent last year.
January 25, 2019, 8:43 AM MST
Fourth quarter 2018 production was off 26 per cent from the fourth quarter of 2017, while proved and probable reserves declined by 26 per cent, says Zargon Oil & Gas Ltd.
January 25, 2019, 10:21 AM MST
MEG Energy Corp. executives say "the clouds have lifted" now that it is no longer being pursued by Husky Energy Inc. However, the outlook isn’t yet clear enough for the company to sanction its full 2019 capital program.
January 22, 2019, 10:56 AM MST