Pembina Pipeline Corporation’s physical volumes reached second-quarter lows in early May, at levels roughly down 16 per cent from average levels in the prior two quarters — a decrease of about 135,000 bbls/d due to producer shut-ins and advancement of turnarounds and maintenance work.
August 7, 2020, 11:17 AM MDT
August 7, 2020, 7:47 AM MDT
AKITA Drilling Ltd. mitigated the economic impact of COVID-19 in the second quarter through cost cutting — reducing corporate overhead through reduced staffing levels, wage reductions up to 50 per cent, working with vendors to reduce and minimize expenses, as well as receiving government subsidies.
August 7, 2020, 10:23 AM MDT
Canadian Natural Resources Limited increased second quarter volumes despite the many challenges related to sinking demand due to the COVID-19 pandemic led by a record performance by the company’s oilsands mining segment.
August 6, 2020, 10:48 AM MDT
Paramount Resources Ltd. has realized significant cost savings in its capital program through its continuing focus on well design, increased efficiencies and lower vendor rates, while not compromising on completion effectiveness.
August 6, 2020, 8:33 AM MDT
Gear Energy Ltd. shut-in most of its production and immediately pursued reductions to the variable costs of the business in an effort to curb the impact of low oil prices. For the three and six months ended June 30, 2020, production totalled 2,749 and 4,746 boe/d, respectively, which is 62 and 32 per cent less than during the same periods last year.
August 6, 2020, 8:51 AM MDT
In 2020, PHX Energy Services Corp. expects to spend $27.5 million in capital expenditures. This was earlier lowered from $30 million.
August 6, 2020, 7:37 AM MDT
August 6, 2020, 7:55 AM MDT
Given the improvement in its business outlook with strengthening oil prices including Canadian crude oil pricing, International Petroleum Corporation says it has decided to “progressively” bring back onstream oil production from its Suffield oil and Onion Lake thermal assets.
August 5, 2020, 10:40 AM MDT
Perpetual Energy Inc. sold half of its working interest in its East Edson property in West Central Alberta at the start of Q2 2020 to a third-party purchaser for consideration including a cash payment of $35 million and the carried interest funding of the drilling, completion and tie-in costs for an eight-well drilling program.
August 5, 2020, 12 AM MDT
As planned, NuVista Energy Ltd.’s 15 new wells which were drilled and brought onstream in the first quarter are expected to allow it to offset production declines and therefore achieve 2020 average production of 50,000 boe/d without any material capital spending through the remainder of this year.
August 5, 2020, 7:56 AM MDT
August 5, 2020, 8:04 AM MDT
In light of the current commodity price environment, Obsidian Energy Ltd. has deferred development spending and plans for a reduced second-half 2020 capital expenditure program of approximately $13 million.
August 4, 2020, 10:53 AM MDT
Baytex Energy Corp. previously announced voluntary production shut-ins of approximately 25,000 boe/d. These volumes remained offline for April and May.
August 4, 2020, 12 AM MDT
August 4, 2020, 12 AM MDT
August 4, 2020, 12 AM MDT
August 4, 2020, 12 AM MDT
While economic activity has improved substantially from the historic lows experienced early in the second quarter, the ongoing effects of the COVID-19 pandemic have resulted in unprecedented impacts across society and industry, and Imperial Oil Limited responded accordingly, says CEO Brad Corson.
July 31, 2020, 11:44 AM MDT
The effect of COVID-19 and the current business environment on supply and demand patterns negatively impacted Imperial Oil Limited’s second quarter financial and operating results.
July 31, 2020, 10:43 AM MDT
Trican Well Service Ltd. improved on its net loss in Q2 2020 despite a revenue decline, mostly due to cost-reduction strategies made late in Q1, efficiency improvements made through the last several quarters as part of a business-optimization program, as well as government assistance programs relating to the ongoing pandemic.
July 31, 2020, 10:53 AM MDT
With changing circumstances, Chris Slubicki, Theresa B.Y. Jang and Mary Hemmingsen have chosen not to stand for re-election and will be stepping down from Bonavista Energy Corporation’s board, effective as of Thursday.
July 31, 2020, 4:48 AM MDT
CWC Energy Services Corp. continues to pursue cash saving initiatives to preserve cash resources and maintain balance sheet strength, as well as retain key employees, as the duration of negative impacts due to COVID-19 remain uncertain, says the company in its second quarter release.
July 31, 2020, 7:31 AM MDT
Sand volumes for Source Energy Services Ltd. declined in Q2 to 122,375 metric tonnes (MT) from 504,907 MT the previous year.
July 31, 2020, 5:01 AM MDT
July 31, 2020, 9:40 AM MDT
July 31, 2020, 9:47 AM MDT