Capital Spending

  • 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

  • Journey Lowers E&D Portion Of 2022 Capital Program

    Journey Energy Inc.’s 2022 capital program will see the company participating in 15 (12.6 net) wells in six different areas, versus the originally planned program of 17 (15 net) wells in seven areas.

    November 1, 2022, 12 AM MDT

  • Yangarra Bumps Up 2022 Spending

    Yangarra Resources Ltd. has bumped up its 2022 capital spending program by $5 million.

    November 1, 2022, 6:37 AM MDT

  • Crescent Point Bumps Up 2022 Spending, Outlines 2023 Capital Plans

    Crescent Point Energy Corp.’s 2022 development capital expenditures guidance has been increased to $950 million, from $875–$900 million previously.

    October 26, 2022, 2:09 PM MDT

  • Birchcliff Outlines Preliminary 2023 Spending; Hikes 2022 Capex

    Birchcliff Energy Ltd. is currently targeting F&D capital expenditures of $240 million to $270 million in 2023, which is expected to deliver annual average production of 81,000 to 83,000 boe/d, a five per cent increase over

    October 13, 2022, 2:58 PM MDT

  • E&Ps Continue To Take Steps To Mitigate Inflationary Impacts

    Despite bulging bottom lines flush with cash flow and continued and increasing vows of return of capital to shareholders, Canadian E&Ps say they remain mindful of inflationary pressures and are taking steps to mitigate the impacts of rising costs.

    October 4, 2022, 12 AM MDT

  • Whitecap Lays Out 2023 Budget Of $900–$950 Million

    Whitecap Resources Inc. laid out a 2023 capital investment budget of $900–$950 million and average production guidance of 170,000–172,000 boe/d (64 per cent liquids), resulting in significant free funds flow for elevated shareholder returns in 2023, said the company.

    September 28, 2022, 12 AM MDT

  • InPlay Production At Record Levels; 2022 Budget Increased

    InPlay Oil Corp. is currently producing at record production levels of 9,600 boe/d (57 per cent light oil and NGLs) based on field estimates.

    September 28, 2022, 6:38 AM MDT

  • Petrus Hikes Capital Budget

    Market conditions have improved materially since the release of Petrus Resources Ltd. initial 2022 budget in December of last year, said the company.

    September 20, 2022, 12 AM MDT

  • Tamarack Lays Out Preliminary 2023 Capital Plans, Post-Deltastream Acqusition

    Tamarack Valley Energy Ltd. outlined a $400 – $450 million, preliminary spending plan for 2023, which includes the acquisition of Deltastream Energy Corporation.

    September 12, 2022, 6:06 AM MDT

  • Kiwetinohk Sets Record For Quarterly Production In Q2, Adjusts Guidance

    Total production for Kiwetinohk Energy Corp. in the second quarter of 2022 exceeded what the company saw from the same time a year earlier by 56 per cent.

    August 12, 2022, 12 AM MDT

  • Vermilion Lifts Capital Spending Plan For 2022

    As a result of forest fire related downtime in France, offshore drilling delays in Australia, combined with inflationary pressure, Vermilion Energy Inc. is increasing its 2022 capital budget by $50 million to $550 million.

    August 12, 2022, 12 AM MDT

  • Pieridae Lowers Production Outlook

    Reinjecting ethane into the gas stream limited reportable sales volumes for Pieridae Energy Limited last quarter and is a factor in the company revising its production guidance for the year.

    August 11, 2022, 7:16 AM MDT

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