A flurry of announced capital budget cuts from Canadian-based producers have totalled nearly $6.25 billion in reductions over the past few weeks as operators responded to an oil market that was hammered by the COVID-19 outbreak and the oil price war between Saudi Arabia and Russia.
March 24, 2020, 11:04 AM MDT
Amid the Russia-Saudi price war coupled with the global pandemic, the Petroleum Services Association of Canada (PSAC) has scrapped its oilfield services mid-year activity update in April.
March 24, 2020, 10:12 AM MDT
Suncor Energy Inc.’s revised capital program is expected to be between $3.9 and $4.5 billion, a $1.5 billion or 26 per cent decrease compared to the original 2020 capital guidance midpoint.
March 24, 2020, 12 AM MDT
The federal government needs to take bold and unprecedented action to keep the Canadian economy from a complete collapse, starting with ensuring the future of its largest industry, the beleaguered energy sector, says Alberta Premier Jason Kenney.
March 24, 2020, 7:31 AM MDT
Latest debt level data from CanOils shows that some E&P players in the Canadian oil and gas space are much better positioned to survive the lower price environment for longer duration. A handful of companies have very low level of debt in relation to their cash flow compared to their peers.
March 24, 2020, 6:46 AM MDT
Drilling rig activity in Western Canada and the Top 10 active operators as of March 24, 2020, as reported this morning by Rig Locator.
March 24, 2020, 11:37 AM MDT
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High Arctic Energy Services Inc. has appointed Mike Maguire as chief executive officer effective immediately.
March 24, 2020, 3:45 AM MDT
Precision Drilling Corporation is reducing its 2020 capital spending plan by roughly 50 per cent to $48 million in response to less expected demand as customers reduce spending due to lower-than-anticipated commodity prices, with further adjustments throughout the year depending on activity levels.
March 24, 2020, 7:40 AM MDT
Dale Nally has been sworn in as Alberta’s associate minister of natural gas and electricity.
March 24, 2020, 11:31 AM MDT
March 24, 2020, 10:52 AM MDT
The start of construction on the Woodfibre LNG project has been delayed in part due to COVID-19.
March 24, 2020, 2:38 PM MDT
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