Capital Spending

  • Suncor’s 2023 Budget ‘Reflects A Thorough Review’ Of Assets, Performance Targets

    Suncor Energy Inc.’s 2023 capital guidance of $5.4-5.8 billion was calculated and determined under an expanded lens and by a partly re-tooled management team, the company’s interim president and CEO Kris Smith told an investors day event Tuesday.

    November 30, 2022, 12:58 PM MST

  • Spartan Delta Launches ‘Strategic Repositioning Alternatives’ Process

    Spartan Delta Corp. has started a formal process to evaluate strategic repositioning alternatives in an effort to enhance shareholder value.

    November 30, 2022, 6:05 AM MST

  • Kiwetinohk Lowers Upstream Capex

    Kiwetinohk Energy Corp.’s Upstream division capital spending guidance range for the year has been reduced by $10 million, or 3.5 per cent, to a range of $265 - $280 million.

    November 17, 2022, 12 AM MST

  • Rubellite Outlines Spending Plan To Continue Two-Rig Program

    Rubellite Energy Inc. plans to spend approximately $33.0 to $41.0 million to continue its two-rig drilling program through to the end of the first quarter of 2023 to drill, complete, equip and tie-in 17 (14.9 net) multilateral horizontal development/infill wells at Figure Lake and Marten Hills and to execute its four to six (3.0 to 4.0 net) well northern exploration program.

    November 14, 2022, 12 AM MST

  • Tenaz Capital For 2023 Focusing On Leduc-Woodbend

    Tenaz Energy Corp. announced a capital budget of $16 - $18 million for 2023.

    November 14, 2022, 9:04 AM MST

  • Peyto Estimates 2023 Spending Of $425–$475 Million With More Activity In Summer Months

    While its official 2023 budget is still being finalized, Peyto Exploration & Development Corp. currently anticipates an organic capital program of $425–$475 million, which will use between four and five drilling rigs throughout the year.

    November 10, 2022, 11:35 AM MST

  • Pine Cliff Lifts 2022 Spending Outlook

    Pine Cliff Energy Ltd. approved an increase in its 2022 capital expenditure budget from $29.5 million to $31.5 million.

    November 10, 2022, 12 AM MST

  • Petrus Sets 2023 Capital Spending Plans

    Petrus Resources Ltd.’s board of directors has approved a capital budget for 2023 of $130 million to $135 million.

    November 10, 2022, 12 AM MST

  • Kelt Sets Initial 2023 Spending Plan

    Kelt Exploration Ltd. announced an initial capital expenditure budget of $310.0 million for 2023.

    November 10, 2022, 8:52 AM MST

  • Active Capital Program For Bonterra In Q3

    Bonterra Energy Corp.’s capital expenditures in the first nine months of 2022 totaled $67.1 million and included $48.9 million directed to the drilling of 23 gross (22.7 net) wells and the completion, equip, and tie-in of 28 gross (27.7 net) wells, with six of the completed and equipped wells having been drilled late in 2021.

    November 10, 2022, 12 AM MST

  • Ovintiv Sees Slight Uptick In Production; Capex At High End Of Range

    Ovintiv Inc.’s full year capital investment is expected to total approximately $1.8 billion, at the high end of the previous capital guidance range.

    November 9, 2022, 8:05 AM MST

  • NuVista Sets Capex Range For 2023, Ups 2022 Forecast

    NuVista Energy Ltd.’s capital expenditure guidance for 2023 is set at a range of $425 - $450 million.  

    November 9, 2022, 7:09 AM MST

  • Cardinal Sets 2023 Budget

    Cardinal Energy Ltd. announced a 2023 capital budget of $97 million.

    November 9, 2022, 12 AM MST

  • Pipestone Boosts 2022 Spending Plan; Outlines 2023 Capex

    Pipestone Energy Corp. is increasing its capital expenditure guidance for 2022, from $225 - $235 million to an estimate of $240 million.

    November 9, 2022, 7:48 AM MST

  • Birchcliff Continued Advancing Capital Program In Q3

    Birchcliff Energy Ltd.’s F&D capital expenditures were $85.3 million in Q3 2022, which included drilling eight (8.0 net) wells and bringing 19 (19.0 net) wells on production.

    November 9, 2022, 2:25 PM MST

  • Obsidian Bumps Up Capital Spending For 2022; Busy Development Program Continues

    Obsidian Energy Ltd. has bumped up its capital expenditure range.

    November 8, 2022, 7 AM MST

  • Perpetual Outlines 2023 Spending Plan

    Perpetual Energy Inc.'s board of directors approved a capital budget of $29–$32 million for 2023, including $5–$7 million to be spent in the first quarter for pipeline infrastructure and to drill two (1.0 net) wells at East Edson.

    November 8, 2022, 12 AM MST

  • Baytex Ups 2022 Spending As Inflationary Pressures Mount

    Baytex Energy Corp. now anticipates full-year 2022 exploration and development expenditures of approximately $515 million, up three per cent from the previously targeted $500 million which represented the high-end of the company’s prior guidance range of $450-$500 million.

    November 4, 2022, 10:58 AM MDT

  • ARC’s 2023 Budget Positions For 2% Production Growth

    The ARC Resources Ltd.’s board of directors has approved the company’s preliminary 2023 capital budget of $1.8 billion.

    November 4, 2022, 9:50 AM MDT

  • Headwater Releases Preliminary 2023 Budget

    Headwater Exploration Inc. outlined an initial capital budget for 2023 of $200 million resulting in 2023 annual average production of 18,000 boe/d (92 per cent heavy oil).

    November 4, 2022, 12 AM MDT

  • Crew Accelerates Projects Into Q4 2022; Outlines Preliminary 2023 Spending

    Crew Energy Inc.’s strong 2022 financial performance in achieving leverage targets provides the flexibility to expedite two projects that were originally planned for the first quarter of next year.

    November 4, 2022, 12 AM MDT

  • Enerplus Updates Spending Plan

    Enerplus Corporation’s capital spending guidance in 2022 has been updated to $430 million from the prior range of $400 to $440 million.

    November 4, 2022, 6:19 AM MDT

  • CEO: Tourmaline Has ‘Nice Hedge’ Against Inflation, Sees Production Rise In Q3

    With inflationary pressures hooked into many aspects of the energy industry, Tourmaline Oil Corp. possesses qualities and has deployed tactics to fend against it.

    November 3, 2022, 1:41 PM MDT

  • Paramount Outlines 2023 Spending Plan

    With its achievement of the net debt target, strong free cash flow profile and deep inventory of high return opportunities, Paramount Resources Ltd. is budgeting 2023 capital expenditures in a range of between $720 million and $760 million, $65 million higher at the midpoint than previous preliminary guidance.

    November 3, 2022, 5:56 AM MDT

  • Gear Outlines 2023 Capital Program

    Gear Energy Ltd.’s board has approved a 2023 capital budget of $61 million designed to target four key strategic goals.

    November 2, 2022, 3:26 PM MDT

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.