TORC Oil & Gas Ltd. is reducing its 2020 capital spending to $75 million from the original budget of $190 million in order to maintain financial flexibility.
May 6, 2020, 12 AM MDT
Despite its strong financial liquidity driven by its estimated $525 million full, year 2020 hedge book, MEG Energy Corp. is further reducing its 2020 full year capital budget by an additional $50 million to $150 million from the previously revised level of $200 million.
May 5, 2020, 9:17 AM MDT
Perpetual Energy Inc.’s capital spending in the first quarter of 2020 of $5.2 million was primarily directed to the four-well (4.0 net) heavy oil drilling program targeting the Clearwater formation in the Ukalta area of eastern Alberta.
May 5, 2020, 7:46 AM MDT
May 4, 2020, 8:52 AM MDT
May 1, 2020, 10:49 AM MDT
May 1, 2020, 10:56 AM MDT
May 1, 2020, 10:43 AM MDT
Whitecap Resources Inc. expects that one million to 1.5 million bbls/d of Canadian production will be suspended, Grant Fagerheim, president and chief executive officer, said in a conference call to discuss first quarter 2020 results.
April 30, 2020, 6 PM MDT
Vermilion Energy Inc. says it has had only “moderate impacts” on its operations due to COVID-19, with those effects stemming solely from reduced availability of third party services in France.
April 29, 2020, 3:34 PM MDT
Athabasca Oil Corporation says it is taking further actions in response to the decline in global oil prices to bolster balance sheet strength and corporate resiliency.
April 29, 2020, 6:54 AM MDT
Leucrotta Exploration Inc.’s capital spending will be limited on a go-forward basis until there is more clarity on commodity prices.
April 29, 2020, 4:09 AM MDT
In response to the decrease in oil prices, Razor Energy Corp. has shut in all of its operated heavy oil production, along with certain light oil wells which are sub-economic at current prices.
April 29, 2020, 12 AM MDT
Journey Energy Inc. has shut-in approximately 1,500 boe/d (73 per cent oil and NGL) of its production effective the first week of April.
April 27, 2020, 7:46 PM MDT
Obsidian Energy Ltd. has taken further proactive action to shut-in currently uneconomic production with a focus on preserving its balance sheet and improving financial flexibility.
April 23, 2020, 6:42 AM MDT
Enerplus Corporation is further reducing its 2020 capital budget by an additional $25 million to $300 million.
April 22, 2020, 5:10 AM MDT
As a result of reducing operations to a single-train facility at Fort Hills and to minimize negative cash flow, Teck Resources Limited has reduced its planned 2020 capital spending in the energy business unit to $85 million from $175 million.
April 21, 2020, 9:06 AM MDT
Crescent Point Energy Corp.’s capital expenditures for 2020 are now forecast to be $650 to $700 million, or $75 million below its recently revised guidance of $700 to $800 million, based on the mid-point of the range.
April 20, 2020, 5:58 AM MDT
ConocoPhillips says it is cutting back production at its Surmont SAGD project in Canada due to low Western Canada Select prices and wide differentials and by May expects to reduce production by approximately 100,000 bbls/d of oil (gross) to 35,000 bbls/d.
April 16, 2020, 11:37 AM MDT
Gear Energy Ltd. has chosen to immediately pursue reductions to the variable costs of the business in an effort to maximize funds from operations.
April 16, 2020, 8:51 AM MDT
Peyto Exploration & Development Corp. has lowered its capital program and dividend in response to the effects of the COVID-19 pandemic on near term hydrocarbon demand and commodity prices.
April 15, 2020, 3:44 PM MDT
Surge Energy Inc. is suspending its dividend (approximately $33.5 million in annualized savings when combined with the previously announced March 9 dividend reduction) until such time as management and board see a sustainable recovery in world crude oil prices.
April 15, 2020, 12 AM MDT
Surviving and adapting to new challenges, crises and realities is nothing new for oil and gas companies operating in Canada.
April 13, 2020, 7:44 AM MDT
Advantage Oil & Gas Ltd. is selling a 12.5 per cent interest in the Glacier gas plant to a strategic partner for $100 million cash proceeds.
April 13, 2020, 7:50 AM MDT
Kelt Exploration Ltd. has no immediate plans to start up drilling and completion operations on wells that currently remain in its budget until there is better clarity on future commodity prices which have been negatively impacted by global oil demand destruction as a result of the COVID-19 pandemic.
April 9, 2020, 7:17 AM MDT
Petrus Resources Ltd.’s board of directors has approved a second quarter 2020 capital budget of $500,000, which provides for non-discretionary maintenance capital only.
April 9, 2020, 7:28 AM MDT