Capital Spending

  • Strong Viking Results Prompt Tamarack To Increase Production Guidance

    Tamarack Valley Energy Ltd. has reported that due to exceptional 2018 drilling results, current production is ahead of forecast and as a result it has increased its annual and exit production for the second time.

    September 20, 2018, 9:08 AM MDT

  • InPlay To Use Asset Sale Proceeds To Accelerate Willesden Green Cardium Play

     Proceeds from a cash payment of $16.7 million for non-core oil and gas properties in the West Pembina area of Alberta will be used to accelerate Cardium drilling within its core Willesden Green area and to pay down debt, says InPlay Oil Corp.

    September 13, 2018, 9:27 AM MDT

  • Crescent Point Announces New CEO, Headcount Reduction

    Crescent Point Energy Corp. officially has a new top executive and will undertake a substantial workforce reduction of 17 per cent, the company announced this morning.

    September 5, 2018, 11:56 AM MDT

  • Suncor Needs Pipeline Steel In Ground Before Oilsands Growth Decisions Next Year

    Suncor Energy Inc.’s next development decision on its portfolio of 350,000 bbls/d of new in situ oilsands projects could come as early as the end of next year, but as it stands now, it’ll be a no.

    September 5, 2018, 10:20 AM MDT

  • Kelt Redirecting Capital

    Kelt Exploration Ltd.  has elected to redirect capital to several projects previously planned for 2019.

    September 4, 2018, 7:35 AM MDT

  • 10 New Oilsands Projects That Could Be Next To Proceed: Peters & Co.

    The outlook for oilsands construction is nowhere near where it once was, with analysts expecting that growth spending will average just $3 billion per year for the next four years. Growth capital has been on a downward trend since peaking in 2014 at approximately $24 billion and is unlikely to ever spike that high again, according to Peters & Co.

    August 30, 2018, 7:31 AM MDT

  • Traverse Evaluating Alternatives For Duvernay Land Development

    Traverse Energy Ltd. says it has reduced its 2018 capital budget to $3 million while it continues to assess its assets and its East Duvernay well at Chigwell for which it recorded an impairment in the second quarter of 2018.

    August 24, 2018, 9:43 AM MDT

  • Baytex To Spend $275 To $325 Million In Second Half Of 2018

    With its strategic combination with Raging River Exploration Inc. officially closed, Baytex Energy Corp. is forecasting a fourth quarter production rate of approximately 97,000 to 99,000 boe/d, based on exploration and development expenditures of $275 to $325 million in the second half of 2018.

    August 23, 2018, 9:08 AM MDT

  • TransGlobe Cardium Program Set To Kick Off Late Aug./Early Sept.

    TransGlobe Energy Corporation says it has finalized its Cardium drilling program, and is set to kick it off later this month or in early September.

    August 14, 2018, 9:17 AM MDT

  • Enerplus Boosts Production, Capital Guidance; Increased Output In Q2

    Enerplus Corporation has boosted its 2018 capital guidance to $585 million, which was the top range of the previous guidance of $535-$585 million, largely related to increased non-operated activity.

    August 10, 2018, 11:09 AM MDT

  • Tamarack Valley Moving Planned 2019 Capex Into 2018

    Tamarack Valley Energy Ltd.’s strong operational execution provides flexibility to allocate capital to projects such as the Veteran waterflood in the latter half of 2018 that will benefit Tamarack into 2019 and 2020 through lower production decline rates without impacting the current year's volumes.

    August 10, 2018, 5:48 AM MDT

  • InPlay Focused On Cardium In Q2

    InPlay Oil Corp.’s capital program of $12.3 million in the second quarter of 2018 was comprised of several exploration, development and land acquisition activities.

    August 10, 2018, 6:08 AM MDT

  • TORC Picks Up SE Sask. Private Operator; Boosts Capex

    TORC Oil & Gas Ltd. completed the acquisition of Villanova 4 Oil Corp., a private oil company with complementary high quality, light oil assets in southeast Saskatchewan.

    August 9, 2018, 2:44 AM MDT

  • Yangarra Ups Capital Spending

    Yangarra Resources Ltd. announced an increase in the capital budget from $90 million to $120 million for 2018. 

    August 9, 2018, 6:20 AM MDT

  • Perpetual Boosts Spending Guidance

    Perpetual Energy Inc. has increased its 2018 capital expenditure guidance from a range of $21 to $25 million to $25 to $30 million ($8 to $13 million for the remainder of 2018) and increased its planned Mannville heavy oil drilling in the second half of 2018 to five to nine wells (4.3 - 8.3 net) from two wells (1.3 net) previously.

    August 3, 2018, 7:15 AM MDT

  • Bellatrix Reducing Capex Guidance As Improvements Made On Spirit River Well Costs

    Bellatrix Exploration Ltd.’s Spirit River wells continue to outperform budget expectations, resulting in lower sustaining capital requirements for the remainder of 2018.

    August 3, 2018, 8:45 AM MDT

  • Athabasca Increases Capital Budget

    Athabasca Oil Corporation increased its 2018 capital budget by $45 million to reflect continued activity in the Montney at Placid through the second half of 2018.

    August 2, 2018, 7:03 AM MDT

  • Spartan Acquisition Helps Vermilion Increase Canadian Output

    Vermilion Energy Inc.’s second quarter Canadian output increased 37 per cent to 43,817 boe/d from the previous quarter as additional volumes associated with the company’s $1.4 billion acquisition of Spartan Energy Corp. earlier this year padded results.

    July 30, 2018, 10:11 AM MDT

  • Cequence In Refinancing Transactions

    Cequence Energy Ltd. outlined a series of transactions that will refinance the company's balance sheet, and provide greater flexibility and liquidity to execute the ongoing business plan of the company.

    July 30, 2018, 7:57 AM MDT

  • Obsidian To Increase Willesden Green Capital Spending By $50 Million

    June 4, 2018, 8:32 AM MDT

  • Altura Selling East-Central, Sask. Assets For Just Over $28 Million In Cash

    Altura Energy Inc. is selling its east-central Alberta and Saskatchewan assets for cash consideration of $28.38 million.

    May 16, 2018, 6 AM MDT

  • Kelt Increasing Capital Budget

    Oil and NGL prices have exceeded Kelt Exploration Ltd.’s previous forecasts year-to-date, however the futures market is currently indicating lower natural gas prices than previously forecasted.

    May 9, 2018, 7:44 AM MDT

  • TORC Picks Up Assets In Saskatchewan, Increases Capital Budget

    TORC Oil & Gas Ltd. announced an agreement to acquire light oil assets, which are complementary to its existing operations in southeast Saskatchewan.

    May 9, 2018, 3 AM MDT

  • Perpetual Lowers Capital Budget

    Perpetual Energy Inc. has lowered its 2018 capital expenditure guidance to $21 to 25 million ($6 to 10 million for the remainder of 2018) from $23 to 27 million and reduced its Mannville heavy oil drilling in the second half of 2018 to two wells (1.3 net) from the previous range of six to 10 wells.

    May 8, 2018, 7:09 AM MDT

  • Painted Pony Lowers Capital Spending Outlook

    Painted Pony Energy Ltd. is lowering its planned capital program to between $145 and $165 million from previous 2018 expectations of $185 million.

    May 4, 2018, 6 AM MDT