Capital Spending

  • Petrus Outlines Q3 Budget

    Petrus Resources Ltd. set a capital budget of $7.5 million in Q3 for the drilling of four gross (1.5 net) Ferrier wells and investment in facility expansion in North Ferrier.

    August 12, 2021, 6:47 AM MDT

  • Pipestone Energy Lifts 2021 Capital Spending Plan

    Pipestone Energy Corp. has updated its guidance for 2021 and refined its three-year plan.

    August 11, 2021, 6:33 AM MDT

  • InPlay Boosts Production Outlook

    InPlay Oil Corp.’s strong results in the first half of 2021 and continuing in the second half of 2021 from the Pembina drills have allowed the company to increase its 2021 annual average production guidance to between 5,500 and 5,750 boe/d (68 per cent light oil and NGLs).

    August 11, 2021, 12:56 PM MDT

  • Birchcliff Expects Debt To Decline As Free Funds Flow Rises

    Birchcliff Energy Ltd. expects to reduce debt as its free funds flow climbs—the company says it remains committed to “capital discipline.”

    August 11, 2021, 2:30 PM MDT

  • Journey Plans 2022 Return To The Field

    Journey Energy Inc. plans on returning to the field in early 2022 and this should increase both production and the oil weighting to pre-pandemic levels over time.

    August 11, 2021, 12 AM MDT

  • Headwater Increases Capital Budget

    Headwater Exploration Inc. is increasing its capital budget to $130 million from $110 million, allowing for the acceleration of an oil processing facility. 

    August 6, 2021, 12 AM MDT

  • Canadian Natural Boosts Spending By $275 Million

    With the positive outlook for commodity prices for the remainder of 2021, Canadian Natural Resources Limited has increased its 2021 capital budget by $275 million to $3.48 billion as the company undertakes lead activities for future growth opportunities.

    August 5, 2021, 11:28 AM MDT

  • Crew Boosts Spending Guidance

    Crew Energy Inc. has increased its capital spending plan to $150 to $170 million from $120 to $145 million.

    August 5, 2021, 5:12 AM MDT

  • Kelt Lifts Spending Plan

    Kelt Exploration Ltd.’s board of directors has approved an increase to the company's capital expenditure program for 2021.

    August 5, 2021, 5:20 AM MDT

  • Kelt’s Production Up For Q2

    Kelt Exploration Ltd.'s average production for the three months ended June 30, 2021 was 19,592/d, up four per cent from average production of 18,860 boe during the first quarter of 2021 and up 19 per cent from average production of 16,476 boe during the fourth quarter of 2020.

    August 5, 2021, 6:02 AM MDT

  • ConocoPhillips Canadian Production Up For Q2

    ConocoPhillips’s Canadian unit reversed a net loss from last year in the second quarter, and reported higher production during the three-month period.

    August 3, 2021, 8:40 AM MDT

  • Obsidian Lifts Capital Spending Outlook

    With solid results from base production and the 2021 development program to date, Obsidian Energy Ltd. is lifting its capital spending plan.

    July 30, 2021, 12 AM MDT

  • Chevron Tops Profit Estimates, Joins Share Buyback Stampede

    July 30, 2021, 8:51 AM MDT

  • Cenovus Ups Production Guidance; Asset Sale Process Continues To Progress

    Although Cenovus Energy Inc.’s capital guidance range remains unchanged at $2.3-$2.7 billion for the year it now reflects an increase to the oilsands spend of $100 million, a move which will add production this year and into 2022.

    July 29, 2021, 11:50 AM MDT

  • Suncor Updates Fort Hills Production Range For 2021

    Suncor Energy Inc. has provided new 2021 guidance for Fort Hills production and cash operating costs as the company undertakes additional work to maintain slope integrity on the south side of the mine.

    July 29, 2021, 10:37 AM MDT

  • Whitecap Boosts 2022 Outlook Based On Saskatchewan Deal; Firm Sees Strong Q2 2021 Results

    Whitecap Resources Inc. has increased its 2022 preliminary production outlook to 122,000 boe/d, incorporating the acquisition of a private company with operations in southeastern Saskatchewan, but the preliminary capital spending outlook remains between $560 million and $580 million for the year.

    July 29, 2021, 8:34 AM MDT

  • Crescent Point Increases Production Guidance

    Crescent Point Energy Corp. has increased its 2021 annual average production guidance to 130,000–134,000 boe/d, up from its prior range of 128,000–132,000 boe/d.

    July 28, 2021, 11:14 AM MDT

  • Yangarra Lifts Spending Plan

    Yangarra Resources Ltd. has increased its capital budget to $85 million from $60 million, which will keep one drilling rig fully utilized for the balance of the year.

    July 28, 2021, 2:58 PM MDT

  • Baytex Hikes Production Outlook

    As a result of its strong operating performance through the first half of 2021, Baytex Energy Corp. is increasing its production guidance to 79,000 to 80,000 boe/d, up from 77,000 to 79,000 boe/d, previously.

    July 28, 2021, 4:20 PM MDT

  • MEG Increases Capital And Production Guidance After Strong Q2 Results

    Fresh off a strong second quarter performance on both the operational and financial fronts, MEG Energy Corp. is increasing its 2021 production and capital expenditure guidance.

    July 23, 2021, 8:38 AM MDT

  • Obsidian Looks To Repair Balance Sheet, Return Output To Pre-COVID Levels; Lays Out Two-Year Plan

    The re-build of Obsidian Energy Ltd. continues as the company laid out its two-year master plan yesterday, which is focused on reducing debt-to-EBITDA levels significantly, increasing funds flow from operations while returning output to pre-COVID levels and slightly above by 2022.

    June 17, 2021, 10:11 AM MDT

  • Post 7G Merger, ‘Bigger, Stronger’ ARC To Focus On Profitability, Expansion In Low-Cost Montney

    Having largely combined operations with Seven Generations Energy Ltd. to become Canada’s largest pure-play Montney producer and sixth biggest upstream oil and gas company, ARC Resources Ltd. plans to begin development of Attachie West Phase 1 later this year.

    May 28, 2021, 8:22 AM MDT

  • Altura Boosts Spending Outlook

    Altura Energy Inc. has increased its capital expenditure budget for 2021 to $7.5 million from $6 million to advance several “parallel initiatives.”

    May 28, 2021, 6:16 AM MDT

  • Kelt Increases Capital Spending Program

    Kelt Exploration Ltd. now expects to spend $150 million in 2021, up 25 per cent from its previous forecast of $120 million.

    May 25, 2021, 6:37 AM MDT

  • Tourmaline Lifts Spending Guidance Following String Of NEBC Deals

    Tourmaline Oil Corp.’s full-year EP capital guidance has been increased to $1.19 billion from $1.075 billion following a spate of deals in the Montney.

    May 18, 2021, 2:53 PM MDT

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