Financial Results

  • Crew ‘Monetizes’ Portion Of Hedge Book

    To capitalize on an improved outlook for North American natural gas fundamentals and expanding market dynamics through the second half of 2023, Crew Energy Inc. strategically elected to monetize a portion of its hedge book in Q2/23, generating $11.8 million.

    August 10, 2023, 12 AM MDT

  • Journey Lowers Capex Outlook

    Journey Energy Inc. reduced its 2023 capital budget to $46 million from $63 million and now anticipates drilling seven (5.6 net) wells in the Medicine Hat and Cherhill pools.

    August 10, 2023, 8:13 AM MDT

  • Pieridae’s Q2 Output Drops On Unscheduled Downtime, Wildfires

    Pieridae Energy Limited says production has largely recovered from unscheduled downtime during the second quarter, with recent field production back to about 35,600 boe/d.

    August 10, 2023, 9:32 AM MDT

  • Enerplus Narrows Capital Range

    Enerplus Corporation narrowed its capital spending guidance range for 2023 to $510 – $550 million from $500 – $550 million.

    August 10, 2023, 6 AM MDT

  • Pipestone Capex Front-Loaded; Continued Development Program In Q2

    Pipestone Energy Corp.’s capital expenditures in 2023 were front-loaded in 2023 as a result of delineation spending, as well as to provide surety on full year production guidance.

    August 9, 2023, 6:28 AM MDT

  • Vermilion Q2 Output Flat Despite Alberta Wildfires And Other Challenges

    Vermilion Energy Inc.’s second quarter 2023 production numbers were up compared to Q1 and flat with Q2 2022 despite operational challenges created by Alberta’s wildfires and the disposition of Saskatchewan assets that led to a 10 per cent drop in North America, and a pipe leak problem at its Wandoo gas platform off the coast of Australia that led to a prolonged shut-in.

    August 4, 2023, 6:37 AM MDT

  • Headwater Lifts Capital Budget

    Headwater Exploration Inc. is lifting its 2023 capital expenditure budget from $200 million to $225 million.

    August 4, 2023, 12 AM MDT

  • Wildfires Hamper Tourmaline Production In Q2

    Production for Tourmaline Oil Corp. in the second quarter of 2023 was impacted by wildfires and declined year-over-year.

    August 4, 2023, 12 AM MDT

  • Hammerhead Continued With 2-Rig Program For Q2

    Hammerhead Energy Inc. continued a two-rig development program with quarterly capital expenditures and net cash used in investing activities of $95.3 million and $132.3 million, respectively.

    August 4, 2023, 12 AM MDT

  • Spartan Q2 Program Focused On Multiple Horizons In Deep Basin

    Spartan Delta Corp. successfully executed a $95.8 million capital program in the second quarter of 2023, with specific focus placed on the continued development across multiple horizons in the Deep Basin as well as development of its recently divested Gold Creek and Karr assets located in the Montney oil window.

    August 4, 2023, 12 AM MDT

  • Surge Focused Q2 Spending On Facility, Pipeline, Maintenance Work

    Surge Energy Inc. focused a significant portion of its Q2/23 capital expenditures on facility, pipeline and well maintenance work, as well as further land consolidation in SE Saskatchewan.

    August 4, 2023, 12 AM MDT

  • Perpetual Plans To Participate In East Edson Drilling Program

    During the second half of 2023, Perpetual Energy Inc. is planning to participate at its 50 per cent working interest in an East Edson drilling program to drill, complete, equip and tie-in an additional four to six (2.0 to 2.8 net) horizontal wells to fill the West Wolf gas plant in order to optimize production and operating costs, meet transportation commitments and maximize natural gas and NGL sales through next winter.

    August 4, 2023, 8:33 AM MDT

  • ARC To Dedicate Up To 25% Of Future Natgas Production To International Markets

    ARC Resources Ltd. says it continues to evaluate opportunities to supply natural gas to international markets through long-term LNG supply agreements.

    August 3, 2023, 10:27 AM MDT

  • Wildfires Among Factors That Negatively Impacted CNRL’s Q2 Volumes

    Canadian Natural Resources Limited’s Q2 production was negatively affected by a variety of factors including the wildfires in Western Canada, resulting in an average production impact of approximately 24,400 boe/d.

    August 3, 2023, 11:09 AM MDT

  • Europe Brings Vermilion Energy’s International Operations Up 30 Per Cent Despite Australia’s Wandoo Shut-In

    Vermilion Energy Inc. saw its international operations output rise by 30 per cent in the second quarter, thanks to robust activity and good prices in Europe and despite the shutdown of its Wandoo platform in Australia taking longer than expected.

    August 3, 2023, 2:53 PM MDT

  • Kelt Shifts Station 2 Gas Sales Exposure To Chicago Hub As It Expects ‘Active’ Pipeline Maintenance

    In anticipation of an active industry pipeline maintenance season in British Columbia, Kelt Exploration Ltd. has shifted its Station 2 gas sales exposure this summer to the ACE Chicago gas hub.

    August 3, 2023, 5:53 AM MDT

  • Kiwetinohk Production Picks Up In Q2

    Production for Kiwetinohk Energy Corp. rallied to 20,432 boe/d last quarter from 16,810 boe/d during the same period in 2022.

    August 3, 2023, 12 AM MDT

  • Gibson’s Marketing Posts 177% Gains In Q2

    Higher refined product margins were among the reasons adjusted EBITDA for marketing at Gibson Energy Inc. grew by $22 million year-over-year to roughly $34 million last quarter, says the company.

    August 2, 2023, 12 AM MDT

  • Obsidian Slightly Lowers 2023 Capital Spending Outlook

    Obsidian Energy Ltd.’s 2023 guidance is being revised, the company announced in its Q2 results.

    August 2, 2023, 6:16 AM MDT

  • Paramount Lowers Production Guidance

    Paramount Resources Ltd.'s operations in the Grande Prairie and Kaybob Regions were significantly interrupted by wildfires in the second quarter that necessitated the temporary shut-in of a number of fields and facilities.

    August 2, 2023, 6:51 AM MDT

  • Pine Cliff Defers Drilling Well, Tightens Production Range

    With the recent volatility in commodity pricing and positive performance of the Pekisko wells drilled in 2023 to date, Pine Cliff Energy Ltd. has elected to defer the drilling of its remaining budgeted one gross (0.7 net) NTU Pekisko oil well until 2024 and replace a portion of this expenditure with recompletion work in the Twining area.

    August 2, 2023, 12 AM MDT

  • Ovintiv Has Eye On LNG; Reports Strong Permian, Montney Performance

    Ovintiv Inc. president and chief executive officer Brendan McCracken said the company continues to evaluate and is “engaged in” all West Coast LNG projects that are under construction or pre-final investment decision.

    August 1, 2023, 7:32 AM MDT

  • Baytex Enjoys Operations Boost Thanks To Ranger, Waseca And Clearwater

    With its new Ranger Oil Corporation acquisition in the Eagle Ford Basin scaling up its operating capacity since June, Baytex Energy Corp. announced production during the second quarter of 2023 of 89,800 boe/d — 86 per cent oil and NGLs.

    July 31, 2023, 12 AM MDT

  • Imperial’s Q2 Output Down About 50,000 Bbls/d On Impact Of Turnarounds, Cold Lake Timing Issues And XTO Sale

    Imperial Oil Limited posted a sharp Q2 decrease in production year-over year as the timing of planned turnaround activity, production and steam cycle timing at Cold Lake and the absence of unconventional volumes following the sale of XTO Energy Canada in the third quarter of 2022 impacted volumes.

    July 28, 2023, 11:25 AM MDT

  • Advantage Capex On Track; Production Growth Expected To Resume In 2H Following Outage

    Advantage Energy Ltd.’s 2023 capital guidance remains between $250 million and $280 million.

    July 28, 2023, 12 AM MDT

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