Financial Results

  • Cost Reductions Help Strengthen Obsidian Funds Flow

    Obsidian Energy Ltd. reported stronger funds flow from operations of $54 million (2018-negative $2 million) in the 2019 fourth quarter and $160 million (2018-$92 million) for the year despite lower production, driven in part by the company’s focus on cost reduction and execution of its drilling program.

    April 2, 2020, 10:15 AM MDT

  • Shell Slows Refining, Takes Up To $800 Million Hit After Oil Crash

    March 31, 2020, 7:54 AM MDT

  • InPlay Pulls Back On Planned 2020 Capital Spending

    Light oil-focused InPlay Oil Corp. says it no longer plans $35 million in capital spending in 2020, instead managing spending and adjusting its capital program accordingly throughout the year, deferring any capital decisions for the second half of this year.

    March 20, 2020, 5:59 AM MDT

  • Altura Scrapping All Discretionary Spending For 2020

    In response to the drop in oil prices, Altura Energy Inc. says it is eliminating all discretionary capital spending for the remainder of this year after forecast first quarter 2020 spending of $7 million, funded with forecast cash flow from operating activities and its credit facility.

    March 20, 2020, 12 AM MDT

  • Perpetual Awaiting Results Of Redetermination Before Setting 2020 Spending Plan

    Perpetual Energy Inc. approved a capital spending program of $6 million for the first quarter of 2020 to drill four (4.0 net) multi-lateral horizontal wells at Ukalta.

    March 20, 2020, 12 AM MDT

  • Cardinal Reduces Budget, Suspends Dividend

    Cardinal Energy Ltd.’s original budget called for capital spending of $67 million with $27 million to be spent in Q1.

    March 17, 2020, 4:42 PM MDT

  • Painted Pony Incurs Loss in 2019, Sets Cautious 2020 Budget

    Painted Pony Energy Ltd. is taking a cautious approach to capital spending with a budget range of $25 million to $30 million earmarked for the first half of 2020.

    March 12, 2020, 4:17 PM MDT

  • Pine Cliff Drills 2 Wells In 2019, Output Slightly Down

    Pine Cliff Energy Ltd. expanded its prospect inventory by identifying prospective drilling locations on its existing land base and drilling two 100 per cent Pekisko oils wells during the fourth quarter.

    March 12, 2020, 4:24 PM MDT

  • Crew Sets 2020 Capital Budget, Output Slightly Down In 2019

    Crew Energy Inc. has set a range for its 2020 capital budget of $35 million to $45 million, of which 60 per cent will be allocated to the first half of the year.

    March 12, 2020, 7:40 AM MDT

  • Delphi Reports Reduced Output, 2019 Net Loss Widens

    Delphi Energy Corp. reported average fourth quarter production of 7,022 boe/d was down 26 per cent from the 9,444 boe/d in the comparative quarter of 2018 as no additional production has been brought onstream since the second quarter of 2019.

    March 12, 2020, 8:50 AM MDT

  • First-Half 2020 Drilling Deferred By Journey

    Journey Energy Inc. says it has deferred its first-half 2020 drilling plans of $10 million to $11 million and is re-evaluating all future expenditures in the context of the current market while continuing its focus on the East Duvernay basin.

    March 10, 2020, 2:40 PM MDT

  • Surge Energy Defers Capital Program, Slashes Dividend

    Surge Energy Inc. is shifting spending from the first quarter into the second half of 2020 and reduced its dividend in response to the recent volatility stemming from the COVID-10 outbreak.

    March 10, 2020, 1:40 PM MDT

  • Kelt Planning To Defer Some Spending

    Kelt Exploration Ltd. will re-evaluate its spending plans for the remainder of 2020 after the first quarter is complete, but is currently planning to defer certain capital expenditures that were previously expected to be incurred in the second quarter of 2020 to the second half of 2020.

    March 9, 2020, 7:57 AM MDT

  • Peyto Still Committed To Debt Repayment Over Share Buybacks

    While some companies are spending their free cash flow on buying back company stock, Peyto Exploration & Development Corp. prefers to allocate its money to paying down debt, says its chief executive.

    March 6, 2020, 12 AM MST

  • Tamarack Valley Busy Working The Cardium, Viking

    Tamarack Valley Energy Ltd. reported stable production for 2019, and slightly lower funds flow for the year.

    March 6, 2020, 8:07 AM MST

  • Vermilion Reducing Dividend; Front-Loading Capex

    Vermilion Energy Inc.’s board of directors has approved a 50 per cent reduction in its monthly dividend to $0.115 per share in response to weakness in commodity prices and reduced global economic prospects following the outbreak of the novel coronavirus.

    March 6, 2020, 7:23 AM MST

  • Yangarra Boosts Output In 2019

     Yangarra Resources Ltd. achieved average production of 12,572 boe/d in 2019, up from 9,425 boe/d the previous year.

    March 6, 2020, 10:06 AM MST

  • Freehold Sees Slight Decline In Output In 2020; Expects Similar Numbers In 2020

     Freehold Royalties Ltd. expects activity levels will remain strong on its royalty lands in 2020 with activity levels forecast to be similar to 2019. 

    March 6, 2020, 10:53 AM MST

  • CNRL Continues To ‘Strongly Support’ Curtailment; Reports Record 2019 Output

    Canadian Natural Resources Limited president Tim McKay says the company continues to “strongly support” the Alberta government’s mandatory production curtailment program, noting both Western Canadian Select (WCS) and synthetic crude differentials “have stabilized to more reasonable” levels.

    March 5, 2020, 10:50 AM MST

  • MEG Reports Improved Results, Higher Bitumen Pricing

    MEG Energy Corp. reported stronger 2019 financial results Wednesday compared to last year, thanks in part to higher bitumen prices.

    March 5, 2020, 8:02 AM MST

  • Peyto Boosts Liquids Production In 2019

    Liquids production at Peyto Exploration & Development Corp. was up 13 per cent for the year and nine per cent in the fourth quarter despite lower total production as the company reported its 20th consecutive year of profitability.

    March 5, 2020, 11:33 AM MST

  • Crescent Point Continues To Cut Net Debt

    Crescent Point Energy Corp. says it substantially reduced its debt and cost structure in 2019, while also returning a meaningful amount of capital to shareholders.

    March 5, 2020, 11:23 AM MST

  • Strong Cash Flow Contributes To Net Debt Reduction For Baytex

    Baytex Energy Corp. recorded adjusted funds flow of $232 million in the fourth quarter of 2019 and $902 million for the year, resulting in free cash flow of $73 million and $329 million respectively.

    March 4, 2020, 11:19 AM MST

  • Despite Late Start To Drilling, NuVista ‘On Track’

    Despite a late start to the winter drilling season due to adverse weather conditions, NuVista Energy Ltd.’s operations across its entire asset base have caught up to schedule as it moves through Q1.

    March 4, 2020, 7:13 AM MST

  • Athabasca Shielded From Low Prices By Hedging, Minimal Capital Program

    While concerns persist regarding disruptions caused by the coronavirus, Athabasca Oil Corporation said it is protected against low commodity prices by its hedging strategy.

    March 4, 2020, 3:42 PM MST