While Clearwater operators are building out future inventories and optimizing primary development programs, in the core Marten Hills and Nipisi areas they are also advancing waterflood strategies aimed at enhancing the overall economics and longevity of the play.
December 12, 2023, 6 AM MST
Low-cost multilateral wells with open hole completions are the driving force behind the rapid growth in Clearwater development, enabling operators to expose enough of the reservoir to deliver highly economic production.
December 11, 2023, 6 AM MST
A spate of oilsands evaluation permits in November resulted in a monthly high for permitting this year.
December 8, 2023, 10:52 AM MST
Surge Energy Inc. says its 2024 capital budget of $190 million will see approximately 95 per cent of development expenditures directed towards its Sparky and SE Saskatchewan core areas.
December 8, 2023, 9:01 AM MST
Headwater Exploration Inc. has announced a preliminary budget for 2024 of $180 million.
December 8, 2023, 8:31 AM MST
The five largest Clearwater heavy oil producers are building out their land positions while testing the boundaries of existing pools and targeting multiple stacked zones in core areas of the play.
December 7, 2023, 6 AM MST
Chevron Corporation today announced an expected organic capital expenditure range of $15.5 to $16.5 billion for consolidated subsidiaries and an affiliate capital expenditure budget of approximately $3 billion for 2024.
December 7, 2023, 12 AM MST
Baytex Energy Corp. announced a budget for 2024 exploration and development expenditures of $1.2 to $1.3 billion, which is designed to generate average annual production of 150,000 to 156,000 boe/d.
December 6, 2023, 5:19 AM MST
Tamarack Valley Energy Ltd.’s 2024 budget includes a “two phase” approach.
December 6, 2023, 5:39 AM MST
Saturn Oil & Gas Inc. announced the initial production results for its most recently drilled 13 gross (11.4 net) wells, including Saturn's first development of Alberta Cardium and Saskatchewan Bakken light oil targets.
December 6, 2023, 5:49 AM MST
Source Rock Royalties Ltd. has closed the acquisition of a gross overriding royalty (GORR) in 60,800 net acres (95 sections) of largely contiguous land in the Figure Lake area of central Alberta for a purchase price of $8.0 million.
December 5, 2023, 12 AM MST
Drilling rig activity in Western Canada and the Top 10 active operators as of Dec. 1, 2023 as reported this morning by Rig Locator.
December 1, 2023, 11:44 AM MST
Advantage Energy Ltd. has outlined capital plans of between $260 million and $290 million for 2024.
December 1, 2023, 12 AM MST
Labour needs in the drilling and service rig industry was top-of-mind as the Canadian Association of Energy Contractors (CAOEC) released its 2023/24 forecast and State of the Industry Report on Nov. 24.
November 30, 2023, 12 AM MST
U.S. oil producers are delivering productivity gains across Texas, unlocking more output, bringing down costs, and helping navigate ongoing market uncertainties.
November 30, 2023, 10:22 AM MST
For 2024, Spartan Delta Corp.'s board has approved an initial capital budget of $130 million to drill and complete 19.2 net (21 gross) wells, resulting in annualized production of 39,500 boe/d, a seven per cent increase in corporate production versus H2 2023 guidance.
November 29, 2023, 5:29 AM MST
The Canadian Association of Energy Contractors (CAOEC) released its 2023/24 Drilling and Service Rig Forecast and the 2023 State of the Industry Report.
November 24, 2023, 8:48 AM MST
Drilling rig activity in Western Canada and the Top 10 active operators as of Nov. 24, 2023 as reported this morning by Rig Locator.
November 24, 2023, 11:31 AM MST
Logan Energy Corp. has set a 2024 initial capital budget of $120 million. The budget is designed to deliver growth in Simonette, maintain production in Pouce Coupe and advance long term growth projects like Flatrock.
November 23, 2023, 12 AM MST
Since starting operations, Logan Energy Corp. has added 62.25 net sections of land around its core area of Simonette, consisting of 32.75 net sections of Montney acreage and 29.5 net sections of land in non-Montney plays on and surrounding its existing asset base.
November 23, 2023, 6:59 AM MST
U.S. rig count is up four from last week to 622 with oil rigs unchanged at 500, gas rigs up three to 117 and miscellaneous rigs up one to five.
November 23, 2023, 12 AM MST
Lycos Energy Inc. executed a $20.9 million capital expenditure program bringing onstream three multi-leg fishbone wells (including two extended reach sweeper fishbone wells at 17 kilometres and 20 kilometres of drilled reservoir respectively) and three multi-lateral wells (including two new generation wine rack wells) in the quarter.
November 23, 2023, 8:31 AM MST
During the third quarter, Hemisphere Energy Corporation completed the majority of its planned 2023 capital expenditure program.
November 23, 2023, 12 AM MST
While the industry spotlight has focused on the Montney play with major acquisition deals in recent days, the head of a Calgary intermediate says he’s happy to stick with his company’s Sparky light/medium-oil play in east-central Alberta.
November 22, 2023, 6 AM MST
Operators across Canada rig released 4,535 wells in the first 10 months of 2023, excluding experimental wells, a five per cent decrease from 4,757 wells drilled in the comparable period last year.
November 20, 2023, 12 AM MST
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