Financial Results

  • Record Production For Hemisphere

    Hemisphere Energy Corporation produced a record quarterly average of 3,171 boe/d, a 20 per cent increase over the first quarter of 2022.

    May 26, 2023, 6 AM MDT

  • Lycos Capex On Track; To Drill 7 Fishbone Wells

    The outlook for Lycos Energy Inc. remains unchanged at $37.0 million of exploration and development expenditures to achieve annual average production guidance of 3,000 boe/d with anticipated fourth quarter production rates of 4,000 boe/d.

    May 26, 2023, 6 AM MDT

  • Record Output For Saturn

    Saturn Oil & Gas Inc. reported record average production for the quarter of 17,783 boe/d (88 per cent oil and NGLs) in 2023, representing an increase of 137 per cent compared to 7,499 boe/d (95 per cent oil and NGLs) in the first quarter of 2022.

    May 17, 2023, 8:34 AM MDT

  • Q1 Roundup: Spartan Delta, InPlay, Journey

    Spartan Delta Corp. reported 10 per cent growth in production from an average of 72,588 boe/d in Q1 2022 to 80,200 boe/d in Q1 2023.

    May 15, 2023, 12 AM MDT

  • Crescent Point Bringing Some Kaybob Duvernay Output Back Online; Asset Performed Well In Q1

    Crescent Point Energy Corp. has begun to restore some of the 45,000 boe/d of output from its Kaybob Duvernay assets in the Fox Creek area that was temporarily shut-in in response to the Alberta wildfires.

    May 12, 2023, 11:20 AM MDT

  • Tamarack’s Production Soars In ‘Extremely Active’ Q1

    A heavy oil production hike drove 64 per cent year-over-year overall production gains for Tamarack Valley Energy Ltd. in the first three months of 2023.

    May 12, 2023, 7:44 AM MDT

  • Record Output For Hammerhead

    Hammerhead Energy Inc. produced a record 39,992 boe/d (47 per cent liquids) for Q1, in line with annual guidance for 2023.

    May 12, 2023, 12 AM MDT

  • Rubellite Approves Spending Plan For Remainder of 2023

    Rubellite Energy Inc.’s board of directors has approved capital spending for the remainder of 2023 of $30 to $32 million to drill, complete, equip and tie-in an additional 17 (17.0 net) multi-lateral development / step-out wells at Figure Lake and $4 to $6 million to drill up to three (2.0 net) multi-lateral Northern exploratory wells.

    May 12, 2023, 12 AM MDT

  • Headwater Continues With ‘Exceptional Success’ At Marten Hills

    Headwater Exploration Inc. has continued to report exceptional success in the Marten Hills West area. 

    May 12, 2023, 12 AM MDT

  • Bonterra Monitoring Alberta Wildfires; Has Output ‘Awaiting Reactivation’

    Bonterra Energy Corp. is actively monitoring the wildfire situation near its operations in the Pembina area within Brazeau County. 

    May 12, 2023, 12 AM MDT

  • Cardinal Production Up In Q1; Drills 4 Wells In Clearwater

    Cardinal Energy Ltd.’s production increased five per cent over the same period in 2022 due to ongoing strong base performance and excellent 2022 drilling results across its asset base.

    May 12, 2023, 6:23 AM MDT

  • Petrus Reviewing Capital Budget; Has Already Deferred Some Spending

    The current price environment and outlook for the remainder of the year is materially lower than the assumptions used to develop Petrus Resources Ltd.’s 2023 capital budget.

    May 12, 2023, 6:11 AM MDT

  • Development Program Gives Peyto’s Output A Slight Bump; Wildfire Situation Continues To Be Monitored

    Peyto Exploration & Development Corp.’s Q1 production increased slightly to 102,918 boe/d versus 101,549 boe/d a year earlier as new volumes from the development program were partially offset by natural declines, resulting in a one per cent increase year-over-year.

    May 11, 2023, 11:07 AM MDT

  • Birchcliff Updates Production Outlook; ‘Tightens’ Spending Range

    As a result of the ongoing impact of a force majeure event on Pembina Pipeline Corporation’s Northern Pipeline system, Birchcliff Energy Ltd. currently expects that it will be on the low end of its annual average production guidance range of 77,000 to 80,000 boe/d.

    May 11, 2023, 12 AM MDT

  • Athabasca Expects Stronger WCS Prices In Back Half Of 2023

    Athabasca Oil Corporation expects Western Canadian Select (WCS) prices to strengthen in the back half of 2023 and into 2024.

    May 11, 2023, 6:11 AM MDT

  • Pieridae Funds Flow Up; First Foothills Well On Production

    Pieridae Energy Limited generated funds flow from operations of $41.6 million ($0.26 per basic and fully diluted share), up 19 per cent  from $34.9 million ($0.22 per basic and fully diluted share) in Q1 2022.

    May 11, 2023, 6:24 AM MDT

  • NuVista Sticking With 2023 Guidance After Reporting Strong First Quarter Results

    NuVista Energy Ltd. is going full steam ahead with its 2023 capital expenditure program after reporting positive financial and operating results in the first quarter.

    May 10, 2023, 8:50 AM MDT

  • Strong Well Performance Drives Ovintiv First Quarter Results

    Higher well productivity in the Permian Basin resulted in growing production for Ovintiv Inc. in the first quarter of 2023, president and chief executive officer Brendan McCracken said in releasing the company’s first quarter results after market close on Tuesday.

    May 10, 2023, 9:22 AM MDT

  • Record Output For Pipestone

    In Q1 2023, Pipestone Energy Corp. reported record average quarterly production totaling 35,162 boe/d (29 per cent condensate, 41 per cent total liquids).

    May 10, 2023, 6:20 AM MDT

  • Freehold Reports Higher Drilling Activity On Royalty Lands

    In total, 349 gross wells were drilled on Freehold Royalties Ltd.’s royalty lands in Q1-2023, a 43 per cent increase versus the same quarter in 2022.

    May 10, 2023, 3:45 PM MDT

  • New CEO Kruger Aims To Make Suncor ‘The Best Of The Best’

    While only six weeks into the job, Suncor Energy Inc.’s new president and CEO, Rich Kruger, has hit the ground running and has some lofty goals going forward in his quest to improve the company’s safety and operational performance.

    May 9, 2023, 10:16 AM MDT

  • Crew Output Down Slightly In Q1

    Crew Energy Inc. reported 32,963 boe/d average production in Q1/23, near the top end of its guidance range of 31,000 to 33,000, slightly ahead of Q4/22 volumes, down slightly from 33,399 boe/d at the same quarter of last year.

    May 9, 2023, 6:03 AM MDT

  • ARC Resources Maintains Priority On Returning Cash To Shareholders In First Quarter

    Lower commodity prices took a bite out of ARC Resources Ltd.’s operating cash flow and free cash flow in the first quarter of 2023, but the company continued delivering cash back to investors through share buybacks and increased dividends.

    May 5, 2023, 9:21 AM MDT

  • Baytex Achieves Strong Results From Peavine Clearwater Development

    Baytex Energy Corp. reported strong results from its Peavine Clearwater development during the first quarter, and is also encouraged by a Clearwater equivalent test well at Morinville as well as early results in the Duvernay.

    May 5, 2023, 11:20 AM MDT

  • Perpetual Focused On Wilrich In Q1

    Perpetual Energy Inc. invested $9.1 million in exploration and development spending in Q1 to drill, complete, equip and tie-in a two (1.0 net) well pad at East Edson, targeting the Wilrich formation, and install related pipeline infrastructure.

    May 5, 2023, 12 AM MDT

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