Financial Results

  • Gear’s ‘Strategic Repositioning’ Process Continues

    During the third quarter Gear Energy Ltd. announced the start of a formal process to explore, review and evaluate strategic repositioning alternatives with a view to enhancing shareholder value.

    November 10, 2023, 12 AM MST

  • Suncor Execs Pleased With Operational Performance Despite Lower Production

    Suncor Energy Inc. Q3 total upstream output decreased to 690,500 boe/d from 724,100 boe/d a year earlier as solid combined upgrader utilization outside of planned maintenance activities and continued strong in situ performance was partially offset by asset divestments in the exploration and production segment.

    November 9, 2023, 10:52 AM MST

  • Hedging Gains, Lower Drilling And Completions Costs Help Keep Margins Up At Peyto

    A $36 million hedging gain helped Peyto Exploration & Development Corp. report earnings of $57 million in the third quarter of 2023, despite low benchmark natural gas prices.

    November 9, 2023, 8:26 AM MST

  • Bonterra Boosts Q3 Output

    Capital expenditures for Bonterra Energy Corp. in the quarter totaled $36.1 million, of which $27.5 million was directed to the drilling of 12 gross (11.8 net) operated wells while 13 gross (13.0 net) operated wells were completed, equipped, and tied-in.

    November 9, 2023, 12 AM MST

  • Kelt Output Up For Q3

    Kelt Exploration Ltd.'s average production for the three months ended Sept. 30, 2023, was 28,179 boe per day, up nine per cent from average production of 25,791 boe per day during the corresponding period in 2022 and down five per cent from average production of 29,705 boe per day during the second quarter of 2023.

    November 9, 2023, 6:19 AM MST

  • Obsidian Output Climbs

    Obsidian Energy Ltd.’s average production was 32,937 boe/d, a 10 per cent increase from 29,985 boe/d in the third quarter of 2022 due to the strong performance of its development program with 35 (34.6 net) wells brought on production during the first nine months of 2023.

    November 9, 2023, 7:20 AM MST

  • Freehold Sees Record Drilling Activity On Royalty Lands

    During the first nine months of 2023, 779 gross (14.1 net) wells were drilled on Freehold Royalties Ltd.’s North American royalty lands, representing the highest level of gross drilling activity through the first three quarters in the company’s 27-year history.

    November 9, 2023, 12 AM MST

  • NuVista Reports Record Quarterly Production

    NuVista Energy Ltd. reported a quarterly production record of just over 80,000 boe/d with peak-day rates of approximately 85,000 boe/d.

    November 8, 2023, 6:39 AM MST

  • Yangarra Lowers Drilling Costs; Evaluating Completions Techniques

    Yangarra Resources Ltd.’s drilling costs continue to improve with a reduction of 15-30 per cent in drilling spud to rig release times when compared with previous years, which has mitigated most of the cost escalations experienced over the past 18 months.

    November 8, 2023, 7:04 AM MST

  • Spartan Delta Focused On Deep Basin

    Spartan Delta Corp. successfully executed a $27.5 million capital program in the third quarter of 2023, with specific focus placed on continued development across multiple horizons in the Deep Basin.

    November 8, 2023, 6:51 AM MST

  • Production Up At Ovintiv After Finalizing Permian Assets Takeover

    Ovintiv Inc. reported third quarter 2023 production of approximately 572,000 boe/d, up from 516,000 boe/d in the same quarter of 2022, after closing its US$4.4 billion acquisition in the Permian Basin in June.

    November 8, 2023, 8:39 AM MST

  • Small Improvements Drive Strong Quarter At MEG, But Royalties Take A Bigger Bite Of Revenues

    MEG Energy Corp. saw an uptick in bitumen production, strong pricing, and much lower diluent costs in the third quarter of 2023, but its Christina Lake operations also reached payout, leading to a jump in royalty payments.

    November 7, 2023, 9:08 AM MST

  • Cardinal Outlines 2024 Spending Plan

    For 2024, Cardinal Energy Ltd. laid out a planned conventional capital budget of $116 million with a further $68.5 million for the Reford thermal oil project.

    November 7, 2023, 6:21 AM MST

  • Baytex CEO Says Integration Of Ranger Assets Has Progressed ‘Extremely Well’

    Baytex Energy Corp. reported a third quarter “which has set the stage for a strong finish to 2023,” said president and CEO Eric Greager.

    November 6, 2023, 12 AM MST

  • Surge Continues To Systematically Grow Production At Sparky Core Area

    During Q3/23, Surge Energy Inc. continued its core area Sparky development program, drilling a total of six gross (6.0 net) wells in the area.

    November 6, 2023, 12 AM MST

  • Perpetual Updates Spending Plan

    Perpetual Energy Inc.'s  board of directors previously approved annual exploration and development capital spending of $25 to $32 million for 2023, prior to acquisitions and dispositions, if any, of which $2 to $4 million was allocated for potential spending in Eastern Alberta in the second half of 2023.

    November 6, 2023, 12 AM MST

  • Tourmaline Has ‘Very Strict’ Criteria For M&A Deals, Says CEO

    An important consideration when assessing M&A deals is whether the free cash flow yield from an acquisition will be as good or better than what the company’s organic five-year EP plan could deliver, says the chief executive of Tourmaline Oil Corp.

    November 3, 2023, 12 AM MDT

  • Higher Prices And Production Push Cash Flows Higher At ARC Resources

    Free cash flow more than doubled for ARC Resources Ltd. in the third quarter as oil and gas prices recovered after dipping in the second quarter of 2023.

    November 3, 2023, 6:48 AM MDT

  • Deep Basin Recovery Helps Drive Vermilion’s North American Production Uptick

    Production for Vermilion Energy Inc. in North America during the third quarter of 2023 averaged 56,758 boe/d. This represents five per cent growth over the previous quarter.

    November 3, 2023, 12 AM MDT

  • Crescent Point Q3 And Future Growth Focuses On Montney And Kaybob After Sale Of U.S. Assets

    Crescent Point Energy Corp. president and CEO Craig Bryksa was positive about the company’s third-quarter results following the company’s reported loss of $809.9 million due to non-cash charges connected to the planned sale of its North Dakota assets.

    November 3, 2023, 12 AM MDT

  • Enerplus Narrows Spending Range

    Enerplus Corporation’s 2023 capital spending guidance was narrowed to $520 to $540 million (from the previous range of $510 to $550 million).

    November 3, 2023, 6 AM MDT

  • CNRL Reports Record Production In The Third Quarter, Driven By Thermal Oilsands

    Canadian Natural Resources Limited reported record production of 1.394 million boe/d in the third quarter of 2023, driven largely by a 44,000 bbls/d year-over-year increase from its thermal oilsands operations.

    November 2, 2023, 7:59 AM MDT

  • Cenovus’s Q3 Operational And Financial Results Improve Quarter-Over-Quarter

    A strong third quarter performance from its upstream segment and continued improvement in its downstream business contributed to Cenovus Energy Inc. posting quarter-over-quarter improvements in both financial and operational results.

    November 2, 2023, 10:43 AM MDT

  • Paramount Expands Core Montney Land Position

    Paramount Resources Ltd. has expanded its core Montney land position in the Grande Prairie Region through the addition of 10 net sections of new land at Karr and Wapiti.

    November 2, 2023, 6:49 AM MDT

  • Athabasca Anticipates Differential Tightening

    Athabasca Oil Corporation believes the recent widening in differentials to US$21/bbl (Q4 strip pricing) is primarily a function of seasonality with refinery downtime and anticipates tightening from current levels in 2024 following the start-up of the Trans Mountain pipeline expansion and new global heavy oil refining capacity.

    November 2, 2023, 12 AM MDT

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.