Recent changes to the Canadian Oil and Gas Evaluation (COGE) handbook with respect to the inclusion of abandonment, decommissioning and reclamation (ADR) costs in oil and natural gas reserves reports should result in more consistent and thorough reporting and disclosure of a given company’s ADR commitments, says Sproule Associates Limited’s senior vice-president of consulting services.
March 3, 2020, 7:27 AM MST
Year-end 2019 PDP reserves of 527.4 million boe were up 34 per cent over year-end 2018 when including 2019 annual production of 106.2 million boe, Tourmaline Oil Corp. reported.
March 3, 2020, 4:10 PM MST
Many oil and gas producers continue to evolve their reserve generation and reporting strategies from demonstrating pure growth to showing a more sustainable approach to operations in an effort to reflect changing shareholder expectations.
March 2, 2020, 8:46 AM MST
Whitecap Resources Inc. reported its total proved plus probable reserve additions replaced 169 per cent of production in 2019, while its total proved reserve additions replaced 133 per cent of production.
February 28, 2020, 8:13 AM MST
Husky Energy Inc.’s total proved reserves before royalties at the end of 2019 were 1.43 billion boe, compared to 1.47 billion boe at the end of 2018.
February 27, 2020, 9 AM MST
Journey Energy Inc. has a first half 2020 exploration and development spending plan of $10–$11 million.
February 25, 2020, 7:13 AM MST
Pipestone Energy Corp. boosted its proved developed producing, proved and proved plus probable reserves in 2019.
February 25, 2020, 7:51 AM MST
Peyto Exploration & Development Corp. noted that the coronavirus outbreak in China and an oversupply of natural gas in North America have caused commodity prices for WTI oil, NYMEX gas and AECO gas to fall sharply since Peyto announced its 2020 capital budget.
February 20, 2020, 7:44 AM MST
Kelt Exploration Ltd. has reduced its 2020 capital expenditure forecast to $225 million from $235 million, in part to reflect the planned 2020 expenditures that were brought forward and incurred in 2019.
February 20, 2020, 8:17 AM MST
In 2019, Petrus Resources Ltd.’s development program generated proved developed producing (PDP) reserve additions of 1.3 million boe of which 45 per cent is light oil.
February 19, 2020, 12 AM MST
Bonavista Energy Corporation has set a target to spend between $100 million and $120 million – with the majority allocated to its West Central core area – on its exploration and development (E&D) program in 2020.
February 14, 2020, 6 PM MST
Birchcliff Energy Ltd. achieved record annual production in 2019 of 77,977 boe/d, a slight increase over 77,096 boe/d during the prior year.
February 13, 2020, 8:58 AM MST
Bonterra Energy Corp. announced an initial 2020 capital budget of $70 million.
February 13, 2020, 7:50 AM MST
Pine Cliff Energy Ltd.’s board of directors has approved a 2020 capital budget of $10.2 million that is expected to be funded from adjusted funds flow.
February 13, 2020, 8 AM MST
Cenovus Energy Inc.’s had total proved reserves of approximately 5.1 billion boe at year-end 2019, essentially unchanged from 2018, while total proved plus probable reserves decreased two per cent to about 6.9 billion boe.
February 12, 2020, 9:01 AM MST
A 2019 capital program focused on the development of its Ultra-Condensate Rich (UCR) area at Greater Septimus resulted in the growth of both proved developed producing (PDP) and total proved (1P) reserves, says Crew Energy Inc.
February 11, 2020, 12 AM MST
ARC Resources Ltd. replaced 164 per cent of total production in 2019 as it increased its proved (P), proved plus probable (2P) and proved developed producing reserves (PDP).
February 10, 2020, 8:44 AM MST
Yangarra Resources Ltd. had originally planned to drill and complete 24 wells in 2019, but that was lowered to 17 as the budget was re-directed to infrastructure to accommodate Chedderville opportunities.
February 6, 2020, 4:03 PM MST
Obsidian Energy Ltd. boosted its 2019 proved and proved plus probable reserves.
February 6, 2020, 9:43 AM MST
Advantage Oil & Gas Ltd. boosted its 2019 proved and proved plus probable reserves. The company said it achieved several important milestones in its liquids-focused transition, as demonstrated by its reserves additions and operating results.
February 6, 2020, 9:54 AM MST
TransGlobe Energy Corporation has set its 2020 capital budget at $37.1 million (before capitalized G&A), with $13.4 million earmarked for Canada.
February 5, 2020, 8:06 AM MST
Prairie Provident Resources Inc. boosted its proved plus probable reserves for 2019.
February 3, 2020, 9:25 AM MST
Zargon Oil & Gas Ltd. reported fourth quarter 2019 production averaged 1,746 boe/d a two per cent improvement from the third quarter 2019 rate and a two per cent decline from the fourth quarter rate in 2018.
January 30, 2020, 5:54 AM MST
Baytex Energy Corp.’s exploration and development expenditures totalled $153 million in Q4 2019, bringing aggregate spending for 2019 to $552 million, which is at the low end of original guidance, the company said Monday in releasing preliminary highlights for 2019.
January 21, 2020, 8:01 AM MST
A resource assessment has identified an additional three billion bbls of oil and 5.8 tcf of gas potential offshore Newfoundland.
October 3, 2019, 11:48 AM MDT
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