At the start of 2020, the active rate for rigs shot up past 50 per cent in Western Canada, which at the time portended a decent year of drilling activity in the basin.
December 18, 2020, 10:20 AM MST
Gear Energy Ltd. has outlined a $20 million capital budget for 2021 targeting stabilized production and continued improvement of the strong balance sheet.
December 17, 2020, 5:13 PM MST
With many Canadian E&Ps having announced initial 2021 capital spending plans, service sector and midstream companies have also started releasing guidance.
December 15, 2020, 11:31 AM MST
Headwater Exploration Inc. has an active exploration and development capital program planned for 2021 in the Marten Hills area, with $85 - $90 million in spending expected to result in the drilling of 24 eight-leg multi-lateral wells, 25 injector wells and three source wells.
December 14, 2020, 6:28 AM MST
On its financial health index, Wood Mackenzie Ltd. finds that Canadian large-cap energy firms are financially quite strong, in general, when compared to their large-cap counterparts in the United States.
December 11, 2020, 10:13 AM MST
As a result of improving macro conditions, Yangarra Resources Ltd.'s board of directors has approved a capital program of $60 million for 2021.
December 11, 2020, 12 AM MST
Canadian Natural Resources Limited should be able to maintain the cost savings it has achieved during the downturn in 2020, although factors such as natural gas prices could have an impact on that, says the company's president.
December 10, 2020, 6:43 AM MST
Crew Energy Inc. plans to invest between $120 to $145 million in 2021.
December 10, 2020, 9:12 AM MST
Canadian Natural Resources Limited forecasts 2021 capital spending of $3.21 billion, up from $2.7 billion expected in 2020.
December 9, 2020, 3:56 AM MST
Proposed 2021 spending levels for some Canadian exploration and production companies are below where they landed for 2020 or essentially flat and many of next year’s capital programs announced to date are focused on sustaining capital as opposed to growth.
December 8, 2020, 10:13 AM MST
MEG Energy Corp. has set a 2021 capital budget of $260 million, expected to be fully funded with internally generated 2021 cash flow.
December 8, 2020, 12 AM MST
Pipestone Energy Corp. has entered into an agreement with Veresen Midstream LP for an additional 50 mmcf/d of gas processing capacity at the Veresen Midstream Hythe gas plant as well as ancillary transportation and fractionation services with Pembina Pipeline Corporation and certain of its affiliates.
December 8, 2020, 8:16 AM MST
Pieridae Energy Limited this morning outlined a 2021 upstream capital plan of $45–55 million.
December 7, 2020, 6:13 AM MST
Crescent Point Energy Corp. outlined capital expenditure plans of $475–$525 million for 2021 and annual average production guidance of 108,000 to 112,000 boe/d.
December 4, 2020, 7:23 AM MST
Athabasca Oil Corporation is planning expenditures of $75 million for 2021 focused on sustaining projects at Leismer along with routine maintenance activities at all properties.
December 3, 2020, 3:59 AM MST
Baytex Energy Corp. outlined a 2021 capital budget of $225–$275 million, which is designed to generate free cash flow and average annual production of 73,000 to 77,000 boe/d.
December 2, 2020, 3:24 PM MST
Suncor Energy Inc. expects a 2021 capital program of between $3.8 and $4.5 billion, which will largely be comprised of sustaining capital of $2.9 to $3.4 billion — this includes in situ well pads.
November 30, 2020, 3:34 PM MST
Exxon Mobil Corporation has completed a review of its forward business plans and will prioritize near-term capital spending on “advantaged assets” with the highest potential future value, including developments in Guyana and the U.S. Permian Basin, targeted exploration in Brazil and Chemicals projects to grow high-value performance products.
November 30, 2020, 2:58 PM MST
Obsidian Energy Ltd. will increase its 2020 capital program by $3.2 million to begin drilling activity on the first pad within its Central Alberta Willesden Green asset.
November 30, 2020, 10 AM MST
U.S. shale operators’ drilling and completions capex, which enjoyed strong levels in 2019 at US$98.7 billion, will more than halve in 2020, Rystad Energy projects, and decline to just US$45.2 billion.
November 24, 2020, 10:57 AM MST
Imperial Oil Limited plans to spend an average of up to about $1.4 billion annually over the 2020-2024 period, down 30 per cent from last year’s view, as it looks to invest for value and select volume growth, analysts heard Thursday.
November 20, 2020, 6 AM MST
In light of the recent strength of natural gas prices and a relatively enticing forward strip, some Canadian natural gas-weighted producers are increasing capital programs or, in the case of Canadian Natural Resources Limited, diverting more spending to its natural gas assets.
November 17, 2020, 9:58 AM MST
While specifics of its 2021 budget are not yet finalized, Peyto Exploration & Development Corp.’s president and CEO says the company is currently considering a 2021 capital program of $300-$350 million which would be funded entirely from free cash flow.
November 12, 2020, 10:47 AM MST
Although Birchcliff Energy Ltd. has not yet finalized its 2021 capital spending plans, it is currently targeting F&D capital spending of $200 million to $220 million and an annual average production rate of 78,000 to 80,000 boe/d.
November 12, 2020, 3:36 PM MST
Tamarack Valley Energy Ltd. is accelerating $9.4 million of capital from its Q1 2021 program into Q4 2020 to take advantage of stronger winter gas pricing and lower service costs.
November 11, 2020, 5:45 AM MST