Capital Spending

  • No M&A Plans In Near Future For Whitecap As It Integrates New Montney And Duvernay Assets

    Whitecap Resources Inc. is taking a break from deal-making in 2023 after a flurry of post-pandemic activity, company president and chief executive officer Grant Fagerheim told analysts at the company’s first quarter 2022 conference call Thursday.

    April 27, 2023, 2:02 PM MDT

  • Yangarra Lowers Spending Plans For 2023

    As a result of the increased snowfall during the past winter season, Yangarra Resources Ltd. made the decision to curtail capital spending until field conditions improve.

    April 27, 2023, 12 AM MDT

  • CEO Interview: Crescent Point’s Top Executive Craig Bryksa Discusses Duvernay ‘Gem’

    It’s not an overstatement to say that Crescent Point Energy Corp. had a very good month in March for bold announcements and satisfactory reviews of its five-year growth and strategy planning.

    April 12, 2023, 6 AM MDT

  • Ovintiv Deal: Transaction Overview

    Here are highlights of Ovintiv Inc.’s Permian deal announced this morning.

    April 3, 2023, 5:28 AM MDT

  • Hammerhead To Run 2-Rig Program

    Hammerhead Energy Inc.'s 2023 capital program is development-focused with a continuous two-rig program expected to drill approximately 40 wells.

    April 3, 2023, 9:38 AM MDT

  • Journey Updates Guidance

    Commensurate with the closing of its flow through share issuance on March 23, 2023, Journey Energy Inc. has updated its 2023 guidance.

    April 3, 2023, 5:50 AM MDT

  • Crescent Point Acquiring Spartan Delta’s Oil And Liquids-Rich Montney Assets In Alberta For $1.7 Billion

    Crescent Point Energy Corp. has entered into an agreement with Spartan Delta Corp. to acquire Spartan's oil and liquids-rich Montney assets in Alberta for $1.7 billion in cash.

    March 28, 2023, 5:08 AM MDT

  • Pieridae Energy Improves Balance Sheet Despite Production Slowdown In Q4 2022

    Last year saw “transformational” financial results for Pieridae Energy Limited, driven by strong gas and liquids pricing, the company's ability to control costs in an inflationary year, and a revitalized hedging program.

    March 23, 2023, 6 AM MDT

  • Pieridae Plans To Defer Maintenance Turnaround At Waterton

    Pieridae Energy Limited has revised annual net operating income (NOI) and netback guidance to reflect a lower commodity price forecast for the remainder of the year and is planning to defer certain expenditures into 2024, including investigating deferral of the maintenance turnaround at Waterton, which has been reflected in revised guidance.

    March 22, 2023, 5:50 AM MDT

  • International M&A Top Priority For Tenaz

    International M&A will continue to be the top priority for Tenaz Energy Corp.

    March 22, 2023, 6:07 AM MDT

  • Birchcliff Delays Timing Of Wells Due To Natgas Pricing

    As a result of the recent weakness and volatility in natural gas prices and the potential for weakness in summer natural gas prices, Birchcliff Energy Ltd. has decided to slow the rate of its 2023 capital program by moving the drilling of nine (9.0 net) wells to Q3 2023 that were originally scheduled to be drilled in Q2 2023.

    March 16, 2023, 2:36 PM MDT

  • Rubellite On Track For $17-$20 million Q1 Spending

    Rubellite Energy Inc. is on track to spend a total of $17 - $20 million in Q1 2023 capital expenditure to drill, complete, equip and tie-in six (6.0 net) multi-lateral development/step-out wells at Figure Lake and the three (2.5 net) multi-lateral exploratory program which has already been completed.

    March 10, 2023, 12 AM MST

  • Crew Reduces 2023 Spending Plan

    Crew Energy Inc.’s 2023 net capital expenditures have been lowered to $190 to $210 million, from the original budget of $230 to $250 million.

    March 9, 2023, 12 AM MST

  • Pine Cliff Outlines 2023 Capital Spending Plan

    Pine Cliff Energy Ltd.'s announced a 2023 capital budget of $27.9 million to be fully funded from adjusted funds flow.

    March 8, 2023, 6:12 AM MST

  • NuVista Reports Record Output; Guidance Unchanged Despite Natgas Price Weakness

    NuVista Energy Ltd. reported the highest ever annual average production rate of 68,690 boe/d, a 31 per cent increase from 2021 and at the top end of our guidance range of 68,000 – 69,000 boe/d.

    March 8, 2023, 6:38 AM MST

  • Paramount Boosting 2023 Capital Spending Plan

    Paramount Resources Ltd.  is increasing its 2023 guidance for capital expenditures by $50 million as a result of anticipated inflationary cost pressures.

    March 7, 2023, 11:01 AM MST

  • Kelt Lowers Capital Spending Plans

    Kelt Exploration Ltd. has reduced its 2023 capital expenditure program to $285.0 million, down from $310.0 million in its previous guidance.

    March 3, 2023, 7:01 AM MST

  • Perpetual Outlines 2023 Spending Plan

    Perpetual Energy Inc.'s board of directors has approved exploration and development capital spending of $25 - $32 million for full year 2023, including $8 to $10 million to be spent in the first quarter to drill two (1.0 net) wells at East Edson and related pipeline infrastructure.

    March 3, 2023, 9:31 AM MST

  • Ovintiv Uses Record Cash Flows To Pay Down Debt, Build Up Drilling Inventory

    High commodity prices resulted in Ovintiv Inc. generating net earnings of $3.6 billion in 2022, with free cash flow of $2.3 billion after capital expenditures of $1.8 billion.

    February 28, 2023, 10:17 AM MST

  • Enerplus To Spend $500–$550 Million For 2023

    Enerplus Corporation’s 2023 capital spending guidance is $500–$550 million, which is allocated approximately 95 per cent to North Dakota, 2.5 per cent to the Marcellus and 2.5 per cent to the DJ Basin.

    February 24, 2023, 6:09 AM MST

  • Gear Capex Outlook Increases

    Gear Energy Ltd.’s capital outlook for 2023 has been raised to $66 million, up from the previous estimate of $61 million.

    February 23, 2023, 12 AM MST

  • Peyto To Be ‘Nimble’ With Capex; Plans For Whitehorse Development Deferred

    Peyto Exploration & Development Corp.’s plans for the Whitehorse development, including associated gas plant and pipeline infrastructure, have been deferred as project economics have weakened with the decline in natural gas prices.

    February 17, 2023, 12 AM MST

  • Record Results For Birchcliff

    Birchcliff Energy Ltd. generated record cash flow metrics in 2022, record net income, with output declining slightly.

    February 16, 2023, 4:41 AM MST

  • Bonterra Output Climbed In 2022

    Bonterra Energy Corp. averaged approximately 13,407 boe/d of production in 2022, representing a five per cent increase over 2021 and in-line with Bonterra's previously stated guidance range of 13,300 to 13,700 boe/d.

    February 9, 2023, 12 AM MST

  • ConocoPhillips Completions Activity Continued In The Montney In Q4

    Drilling and completion activities continued at the Montney for ConocoPhillips, with the fourth pad coming online during the fourth quarter while construction progressed on the second phase of the company’s central processing facility.

    February 2, 2023, 12 AM MST

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