Capital Spending

  • Lycos Energy Boosts Capex

    Lycos Energy Inc. is increasing its 2023 acquisition expenditures to $59.0 million and its 2023 exploration, development and other capital expenditures to $47.0 million from $50.0 million and $37.0 million, respectively.

    August 25, 2023, 7:46 AM MDT

  • Crescent Point To Sell North Dakota Assets

    Crescent Point Energy Corp. has entered into an agreement with a private operator to sell its North Dakota assets for US$500 million (approximately $675 million) in cash.

    August 24, 2023, 9:34 AM MDT

  • Petrus Lowers Capex Outlook For 2023

    Petrus Resources Ltd. has lowered its 2023 capital budget guidance to $60 million to $75 million, $33.1 million of which has already been spent, largely on drilling.

    August 15, 2023, 6:05 AM MDT

  • Rubellite Expects $54 - $65 MM In Spending

    Rubellite Energy Inc.’s board of directors has approved the addition of the second rig at Figure Lake to expand development capital spending for the remainder of 2023, bringing total expected exploration and development capital spending for 2023 to $54 - $65 million.

    August 11, 2023, 6:19 AM MDT

  • Efficiencies Allow Crew To Plan Additional Wells

    Crew Energy Inc. has benefited from improved capital efficiencies and is maintaining its annual capital investment guidance of $190 to $210 million.

    August 10, 2023, 12 AM MDT

  • Journey Lowers Capex Outlook

    Journey Energy Inc. reduced its 2023 capital budget to $46 million from $63 million and now anticipates drilling seven (5.6 net) wells in the Medicine Hat and Cherhill pools.

    August 10, 2023, 8:13 AM MDT

  • Pieridae’s Q2 Output Drops On Unscheduled Downtime, Wildfires

    Pieridae Energy Limited says production has largely recovered from unscheduled downtime during the second quarter, with recent field production back to about 35,600 boe/d.

    August 10, 2023, 9:32 AM MDT

  • Enerplus Narrows Capital Range

    Enerplus Corporation narrowed its capital spending guidance range for 2023 to $510 – $550 million from $500 – $550 million.

    August 10, 2023, 6 AM MDT

  • Inflationary Pressures Still A Factor, Says CNRL’s McKay

    While dissipating somewhat from recent highs, Canadian Natural Resources Limited’s top executive says inflationary pressures are still in play, especially on the labour front.

    August 4, 2023, 12 AM MDT

  • Headwater Lifts Capital Budget

    Headwater Exploration Inc. is lifting its 2023 capital expenditure budget from $200 million to $225 million.

    August 4, 2023, 12 AM MDT

  • Hammerhead Continued With 2-Rig Program For Q2

    Hammerhead Energy Inc. continued a two-rig development program with quarterly capital expenditures and net cash used in investing activities of $95.3 million and $132.3 million, respectively.

    August 4, 2023, 12 AM MDT

  • Perpetual Plans To Participate In East Edson Drilling Program

    During the second half of 2023, Perpetual Energy Inc. is planning to participate at its 50 per cent working interest in an East Edson drilling program to drill, complete, equip and tie-in an additional four to six (2.0 to 2.8 net) horizontal wells to fill the West Wolf gas plant in order to optimize production and operating costs, meet transportation commitments and maximize natural gas and NGL sales through next winter.

    August 4, 2023, 8:33 AM MDT

  • Kiwetinohk Lowers Capital Guidance

    Kiwetinohk Energy Corp. has decreased its capital and production guidance for 2023.

    August 2, 2023, 9:15 AM MDT

  • Obsidian Slightly Lowers 2023 Capital Spending Outlook

    Obsidian Energy Ltd.’s 2023 guidance is being revised, the company announced in its Q2 results.

    August 2, 2023, 6:16 AM MDT

  • Pine Cliff Defers Drilling Well, Tightens Production Range

    With the recent volatility in commodity pricing and positive performance of the Pekisko wells drilled in 2023 to date, Pine Cliff Energy Ltd. has elected to defer the drilling of its remaining budgeted one gross (0.7 net) NTU Pekisko oil well until 2024 and replace a portion of this expenditure with recompletion work in the Twining area.

    August 2, 2023, 12 AM MDT

  • Gear Reduces Capital Spending Outlook

    Gear Energy Ltd. lowered its planned 2023 capital expenditures by an additional $8 million to $50 million.

    July 27, 2023, 12 AM MDT

  • Strong Oil Pricing And Production Bump Drive Whitecap Performance In Second Quarter

    Whitecap Resources Inc. benefitted from strong realized crude oil prices and higher production in the second quarter, generating $415 million of funds flow and $197 million of free funds flow after $218 million of capital expenditures.

    July 27, 2023, 7:29 AM MDT

  • Ovintiv Adjusts Capital Guidance Range

    Ovintiv Inc. has lowered the high end of its capital guidance range.

    July 27, 2023, 3:24 PM MDT

  • ARC And Tourmaline Among Canadian Gas Producers To Post Spending Records

    Canada’s gas producers posted five-year highs in capital spending in Q1 2023, according to new analysis using Evaluate Energy’s cash flow data.

    July 19, 2023, 6 AM MDT

  • Tenaz Energy Acquiring European Gas Assets

    Tenaz Energy Corp. is acquiring 100 per cent of the issued and outstanding shares of XTO Netherlands Ltd. from XH LLC, a wholly owned subsidiary of Exxon Mobil Corporation.

    June 27, 2023, 12 AM MDT

  • Ovintiv Closes Midland And Bakken Deals; Slight Uptick In Capex Outlook

    Ovintiv Inc. closed the previously announced acquisition of core Midland Basin assets, adding approximately 1,050 net 10,000 foot well locations and approximately 65,000 net acres of largely undeveloped land adjacent to Ovintiv's existing Permian operations.

    June 13, 2023, 7:41 AM MDT

  • Spartan Delta Outlines Pro Forma Capex Plan

    Spartan Delta Corp.’s  capital expenditure budget and guidance for 2023 is presented on a pro forma basis, accounting for the forthcoming distribution of the cash proceeds of the asset sale and the shares and warrants of Logan Energy Corp. to Spartan's shareholders.

    May 17, 2023, 5:27 AM MDT

  • Rubellite Approves Spending Plan For Remainder of 2023

    Rubellite Energy Inc.’s board of directors has approved capital spending for the remainder of 2023 of $30 to $32 million to drill, complete, equip and tie-in an additional 17 (17.0 net) multi-lateral development / step-out wells at Figure Lake and $4 to $6 million to drill up to three (2.0 net) multi-lateral Northern exploratory wells.

    May 12, 2023, 12 AM MDT

  • Petrus Reviewing Capital Budget; Has Already Deferred Some Spending

    The current price environment and outlook for the remainder of the year is materially lower than the assumptions used to develop Petrus Resources Ltd.’s 2023 capital budget.

    May 12, 2023, 6:11 AM MDT

  • Birchcliff Updates Production Outlook; ‘Tightens’ Spending Range

    As a result of the ongoing impact of a force majeure event on Pembina Pipeline Corporation’s Northern Pipeline system, Birchcliff Energy Ltd. currently expects that it will be on the low end of its annual average production guidance range of 77,000 to 80,000 boe/d.

    May 11, 2023, 12 AM MDT

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