Gear Energy Ltd. said it has worked hard through 2018 to unlock significant new reserves that were anticipated to boost fourth quarter production to approximately 9,500 boe per day. However, in light of the current weak pricing environment, that production growth will now be deferred into 2019.
November 8, 2018, 7:38 AM MST
Athabasca Oil Corporation is joining other heavy oil producers and cutting production in order to mitigate the impact of the record-high WCS price discount. The company has also deferred completions on new wells on its Greater Placid Montney acreage in order to focus on maximizing returns.
November 8, 2018, 9:19 AM MST
TransGlobe Energy Corporation’s 2019 capital program of $34.1 million (before capitalized G&A) includes $24.1 million for Egypt and $10 million (C$13 million) for Canada.
November 8, 2018, 7:11 AM MST
Following its recent $320 million acquisition of privately held Mount Bastion Oil and Gas Corp., Surge Energy Inc. has increased 2018 capital expenditures to $117 million from $107 million.
November 8, 2018, 12 AM MST
Yangarra Resources Ltd. has increased its 2018 capital budget to $140 million from $120 million.
November 8, 2018, 3:30 AM MST
Pine Cliff Energy Ltd. is boosting its capital budget in order to drill its first oil well in the fourth quarter of 2018.
November 8, 2018, 3:40 AM MST
In response to weak prices and vast differentials for Canadian heavy crude, Devon Energy Corporation has curtailed output from its Jackfish SAGD complex by about 25,000 bbls/d, company officials said this morning.
November 7, 2018, 11:24 AM MST
Successful execution of its 2018 capital program resulted in a slight increase in liquids production for Journey Energy Inc. in the third quarter of 2018 as three new oil wells placed on production offset natural declines.
November 7, 2018, 12 AM MST
Switzerland-based International Petroleum Corporation says it is realizing success “arresting declines” at the Suffield natural gas assets it purchased from Cenovus Energy Inc. earlier this year.
November 6, 2018, 11:12 AM MST
Oil-weighted TORC Oil & Gas Ltd. executed the largest capital program in the company’s history in the third quarter of 2018 while generating cash flow in excess of the capital program and dividend.
November 6, 2018, 8:44 AM MST
Painted Pony Energy Ltd. boosted average daily production in the third quarter of 2018 while adjusting its annual guidance due to the explosion at Enbridge Inc.’s T-South pipeline system in early October.
November 6, 2018, 9:48 AM MST
Cardinal Energy Ltd. continues to solidify its position in the emerging Clearwater oil play in Northern Alberta while looking to reduce operating costs at the same time.
November 6, 2018, 10:54 AM MST
Development of the East Duvernay shale light oil has taken an important step forward with two new light oil discovery wells in the Pembina area in central Alberta, says Baytex Energy Corp.
November 5, 2018, 10:09 AM MST
Natural gas weighted Bellatrix Exploration Ltd. says the remainder of its 2018 capital program will stay flexible and will focus on development of the Spirit River liquids-rich natural gas play and higher liquids weighted opportunities in the Cardium.
November 5, 2018, 8:21 AM MST
Crew Energy Inc.’s third quarter volumes of 23,680 boe/d were ahead of the midpoint of the company’s quarterly guidance and were two per cent higher than the same period in 2017, reflecting volumes from new wells completed late in the second quarter.
November 5, 2018, 9:23 AM MST
Advantage Oil & Gas Ltd.’s 2019 capital expenditures are targeted at $225 million of which $154 million (68 per cent) will be invested in drilling and completion activity.
November 5, 2018, 10:37 AM MST
Imperial Oil Limited is a major contributor to surging crude-by-rail traffic out of the Western Canada Sedimentary Basin. The company is working towards utilization of “every bit” of the 210,000 bbl/d loading capacity at its Edmonton terminal, CEO Rich Kruger said on Friday.
November 2, 2018, 11:24 AM MDT
Encana Corporation boosted total production during the third quarter to 378,200 boe/d, up 33 per cent from 284,000 boe/d a year ago, with major increases in Permian and Montney volumes.
November 1, 2018, 11:47 AM MDT
“The market is working” to narrow the dramatic current heavy/light oil price spread, with some producers starting to curtail production, but don’t expect Suncor Energy Inc. to be one of them, CEO Steve Williams said on Thursday.
November 1, 2018, 10:57 AM MDT
Because of challenges associated with historically wide differentials and lack of egress out of Western Canada, Canadian Natural Resources Limited says it will continue to make “strategic decisions” to reduce drilling activity, delay well completions and shut-in production.
November 1, 2018, 11:20 AM MDT
Despite the current headwinds affecting differentials, Canadian Natural Resources Limited delivered strong third quarter results.
November 1, 2018, 11:57 AM MDT
Directors of MEG Energy Corp. repeated their rejection of a $6.4 billion takeover offer from Husky Energy Inc. again Thursday, while reporting good third quarter results.
November 1, 2018, 10:23 AM MDT
Cenovus Energy Inc. has slowed production at both its thermal oilsands projects in order to defer selling into the market until the light/heavy differential narrows.
October 31, 2018, 11:48 AM MDT
Seven Generations Energy Ltd. says it’s encouraged by initial results of a Montney triple-stack test well, a third quarter conference call heard this morning.
October 31, 2018, 10:15 AM MDT
October 25, 2018, 11:52 AM MDT