Capital Spending

  • ARC Resources Lifts Spending Outlook

    ARC Resources Ltd.’s capital spending and production guidance have been lifted to primarily reflect realized and anticipated inflation, along with additional water infrastructure in Kakwa and funds to manage longer supply chain related lead times that will support 2023 activity.

    July 29, 2022, 12 AM MDT

  • Cenovus Bumps Up 2022 Spending Plans By $400 Million

    Cenovus Energy Inc. has updated its 2022 corporate guidance and has hiked spending by $400 million at the midpoint to a range of $3.3 billion to $3.7 billion.

    July 28, 2022, 11:37 AM MDT

  • Enerplus Selling Certain Canadian Assets To Journey

    Enerplus Corporation is selling certain Canadian assets located in Alberta to Journey Energy Inc. for total consideration of $140 million, prior to closing adjustments.

    July 28, 2022, 7 PM MDT

  • Tourmaline Sees Banner Quarter For Cash Flow, Production Increase

    Tourmaline Oil Corp. finished the three-month span ending June 30, 2022 with records in both cash flow and free cash flow.

    July 28, 2022, 2 PM MDT

  • Surge Energy Boosting Capital Spending Plan

    After completing a review of the impact of inflationary factors as well as land expenditures to date, Surge Energy Inc. has increased its estimate for 2022 expenditures on property, plant, and equipment by approximately 12 per cent, as compared to the company's original budget released on Jan. 17, 2022.

    July 28, 2022, 12 AM MDT

  • Tourmaline Acquiring Rising Star In $194.3-Million Deal; Capex Increased

    Tourmaline Oil Corp. has entered into a binding agreement to acquire Rising Star Resources Ltd. for $194.3 million, with closing expected to occur in August 2022.

    July 27, 2022, 4:36 PM MDT

  • Gear Boosting Capex, Implementing Dividend

    Gear Energy Ltd. intends to increase the planned 2022 capital and abandonment expenditure investment from $55 million to $64 million with the majority of the increase relating to two additional light oil wells to be drilled in Tableland, Sask.

    July 27, 2022, 2:25 PM MDT

  • Advantage Q2 Production At 60,000 Boe/d

    Advantage Energy Ltd.’s production during the second quarter of 2022 increased to average approximately 60,000 boe/d (89 per cent natural gas, five per cent natural gas liquids and six per cent light and medium crude oil). 

    July 7, 2022, 6:28 AM MDT

  • Kelt Lifts Capital Expenditure Budget By 13 Per Cent To $300 Million

    Kelt Exploration Ltd. has lifted its capital expenditure budget for 2022.

    July 6, 2022, 3:52 PM MDT

  • Saturn Closes Viking Acquisition And Non-Brokered Private Placement

    Saturn Oil & Gas Inc. has successfully completed the previously announced acquisition of assets in the Viking area of west-central Saskatchewan for closing cash consideration of approximately $248 million (net of adjustments) and has completed a non-brokered private placement for gross proceeds of $400,326.

    July 6, 2022, 4:02 PM MDT

  • Obsidian Keeps Developing In The Clearwater; Inflation Pressures Pick Up: AGM

    Obsidian Energy Ltd. is increasingly identifying itself, in part, as a Clearwater producer, says Jay McGilvary, senior director of development, with crews further delineating the play with two (1.5-net) more wells later this year.

    June 17, 2022, 12 AM MDT

  • Obsidian Boosts Guidance

    Obsidian Energy Ltd. boosted guidance following a successful first half program.

    June 16, 2022, 5:36 AM MDT

  • Prairie Provident Plans ‘Pivot’ To Non-Core Reactivations, Recompletions And Optimization Projects

    Prairie Provident Resources Inc. says it plans a “pivot” in its second half 2022 capital program toward non-core reactivations, recompletions and optimization projects to maximize shareholder value.

    June 13, 2022, 12 AM MDT

  • Hemisphere Boosts Capital Spending, Launches Dividend

    Hemisphere Energy Corporation has boosted its capital spending plan by $7 million to $16 million.

    June 7, 2022, 6:44 AM MDT

  • Major Themes For Producers In Q1: Inflation, Shareholder Returns, Debt Reduction

    The DOB has synthesized our coverage of producers’ first quarter reports and conference calls to highlight the dominant themes that emerged.

    June 3, 2022, 6 AM MDT

  • Saturn In Sask. Viking Light Oil Acquisition

    Saturn Oil & Gas Inc. has entered into an arm’s-length definitive agreement to acquire synergistic assets in the Viking area of west-central Saskatchewan for approximately $260 million.

    June 1, 2022, 12 AM MDT

  • Kaybob Duvernay Key Part Of Crescent Point’s Current Success; Saskatchewan Still Matters

    Saskatchewan remains important for Crescent Point Energy Corp., even as the company increases its Alberta focus following last year’s Kaybob Duvernay acquisition, says president and chief executive officer Craig Bryksa.

    May 20, 2022, 12 AM MDT

  • Kiwetinohk ‘Accelerates’ 2022 Upstream Development Program

    Kiwetinohk Energy Corp. this morning outlined an acceleration and expansion of its 2022 upstream operational program, resulting in increased 2022 guidance.

    May 18, 2022, 12 AM MDT

  • Saturn Boosting Capital Spending

    As a result of the strong economics of the recent drilling programs, Saturn Oil & Gas Inc. has increased its 2022 capital expenditures budget by $6 million with three additional wells to be drilled at the Oxbow asset and the drilling of three additional wells in the Viking asset.

    May 16, 2022, 7:30 AM MDT

  • Cardinal Expects To Exceed Annual Production Guidance After Strong Q1 Start

    Cardinal Energy Ltd. expects to exceed production guidance for the year after a successful 10-well drilling program in the first quarter — including four Clearwater oil wells, two Dunvegan light oil wells and four wells in its Southern Alberta area — increased current output.

    May 13, 2022, 10:02 AM MDT

  • Rubellite Picks Up More Clearwater Land

    Subsequent to the end of the first quarter, Rubellite Energy Inc. executed a definitive agreement for the previously announced Peavine transaction located in the vicinity of recent industry Clearwater drilling activity and southwest of Rubellite's existing option acreage at West Dawson in northern Alberta.

    May 12, 2022, 5:25 AM MDT

  • Headwater Boosting Capital Budget

    Headwater Exploration Inc.'s board of directors has approved an increase in the 2022 capital budget to $230 million from $145 million. 

    May 12, 2022, 3:11 PM MDT

  • Ovintiv Reviewing ‘Evolving Commercial Opportunities’ For LNG

    Ovintiv Inc. is “actively looking” at commercial opportunities for its gas that includes LNG, says the company’s chief executive.

    May 11, 2022, 9:45 AM MDT

  • Pipestone Energy Boosting Capital Spending

    Pipestone Energy Corp. is increasing its 2022 capital guidance range to $225 - $235 million (up from $210 - $220 million).

    May 11, 2022, 6:11 AM MDT

  • NuVista Hikes 2022 Capital Spending Forecast

    NuVista Energy Ltd. has elevated its capital expenditure guidance for 2022.

    May 11, 2022, 12 AM 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.