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
Razor Energy Corp. announced a capital budget of $13.5 million for fiscal 2019 that allows it to maintain production levels while continuing to pay a sustainable dividend.
January 22, 2019, 4:12 AM MST
Peyto Exploration & Development Corp.’s preliminary 2019 capital budget announced Nov. 7, 2018, ranging from $250-$300 million, has been reduced to $150 to $200 million.
January 17, 2019, 8:23 AM MST
While Peyto Exploration & Development Corp.’s 2019 capital budget has been reduced, in 2020 and 2021 the company plans to ramp-up capital investment with capital programs of approximately $270 and $320 million at a cost similar to 2019.
January 17, 2019, 8:36 AM MST
Tourmaline Oil Corp.’s 2019 EP capital program has been reduced to $1.225 billion from the $1.3 billion announced on Nov. 7, 2018.
January 16, 2019, 12 AM MST
Four major North American producers announced last week significant reductions in capital spending in 2019 compared to 2018.
January 15, 2019, 10:09 AM MST
Drilling and completions will account for 90 per cent of Crescent Point Energy Corp.’s 2019 capital budget of $1.2 billion to $1.3 billion, down about $500 million or 30 per cent from $1.775 billion in 2018, says the company.
January 15, 2019, 9:19 AM MST
A capital budget of $170 million to $180 million provides for the drilling of 125 net light oil wells in 2019, says Tamarack Valley Energy Ltd.
January 15, 2019, 10:51 AM MST
Bellatrix Exploration Limited has outlined a capital budget between $40 million and $50 million in order to maintain average production volumes of 34,000 to 36,000 boe/d in 2019.
January 15, 2019, 11:43 AM MST
The continued development of its low-risk, large oil in place light and medium oil assets will be the focus for this year, Surge Energy Inc. said it announcing it has approved a 2019 capital budget of $135 million, down from its preliminary $160 million plan.
January 14, 2019, 9:12 AM MST
Gear Energy Ltd. outlined a first half 2019 capital budget of $10 million, targeting a strategic balance between production stability, maximizing revenue, and further improvement of the balance sheet.
January 14, 2019, 2:38 PM MST
Bonterra Energy Corp. has set a measured 2019 capital budget in the range of $57 million to $77 million.
January 11, 2019, 11:17 AM MST
Seven Generations Energy Ltd. has set its 2019 capital budget at $1.25 billion, a decrease of approximately half-a-billion dollars from the $1.68-1.78 billion the company spent last year.
January 10, 2019, 11:32 AM MST
Capital discipline during the first half of 2019 is a focus for many Canadian producers due to current volatility in WTI, AECO and differentials.
January 8, 2019, 9:32 AM MST
Petrus Resources Ltd. has announced a first quarter 2019 capital budget of $8-$10 million, saying it will continue to monitor the Canadian commodity price environment and will evaluate subsequent quarter capital spending as the year progresses.
January 7, 2019, 9:12 AM MST
Rig activity has slowed down markedly in Western Canada with the holiday period around the corner.
December 21, 2018, 8:43 AM MST
Whitecap Resources Inc. has a 2019 capital budget of $425-$475 million for 2019 that includes the drilling of 220 (191.5 net) horizontal wells.
December 18, 2018, 11:10 AM MST
Whitecap Resources Inc. says Canadian crude oil price differentials and associated short-term contracts “have been positively impacted” by the Alberta government's recent announcement mandating the curtailment of 325,000 bbls/d of crude oil production.
December 18, 2018, 10:55 AM MST
Two of Canada’s major producers released their corporate guidance reports during the week ended Dec. 7: Suncor Energy Inc. and Cenovus Energy Inc.
December 18, 2018, 6:44 AM MST
Baytex Energy Corp. announced this morning it plans to increase 2019 exploration and production capital spending to $550-$650 million from this year’s anticipated spending of $450-$500 million.
December 17, 2018, 8:42 AM MST
Suncor Energy Inc. outlined this morning a 2019 capital program of between $4.9 and $5.6 billion and average upstream production of 780,000 to 820,000 boe/d.
December 14, 2018, 9:44 AM MST
TORC Oil & Gas Ltd. announced an initial 2019 capital budget of $180 million, slightly lower than the 2018 guidance of $185 million.
December 12, 2018, 12 AM MST