Grande Prairie, Alta.

  • Ovintiv To Focus On Montney Oil Window In 2024

    With lower natural gas prices persisting across North America, Ovintiv Inc. plans on focusing all its drilling efforts in condensate-rich areas of the Montney in 2024, company president and chief executive officer Brendan McCracken told analysts at the company’s third quarter 2023 conference call. 

    November 9, 2023, 8:06 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 Drills, Completes First Montney Well

    Bonterra Energy Corp.’s first Montney test well was successfully drilled in the third quarter of 2023 to a total measured depth of approximately 5,500 metres, including the horizontal leg of 3,200 metres, and was drilled under budget.

    November 9, 2023, 12 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 Outlines ‘Initial’ 2024 Budget

    Kelt Exploration Ltd. outlined an initial capital expenditure budget of $350.0 million for 2024.

    November 9, 2023, 6:13 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 Running 4 Rigs As Second Half Program Continues

    With an expanded second half 2023 capital program, Obsidian Energy Ltd.'s drilling preparation and execution began in July and continued through the third quarter, accelerating in October with four rigs in operation across its Peace River, Willesden Green, Pembina and Viking areas.

    November 9, 2023, 7:12 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

  • Conroy Asset Deal: Expanding B.C. Montney Acreage Supports Advantage’s LNG Opportunities

    Advantage Energy Ltd. is expanding its liquids-rich Montney acreage in British Columbia, providing geographic diversification and exposure to Canada’s growing LNG industry via a recent low-cost asset deal, says president and CEO Michael Belenkie, noting the value of these Conroy assets is not contingent on LNG.

    November 8, 2023, 12 AM MST

  • NuVista Outlines 2024 Spending Plan

    NuVista Energy Ltd. has outlined its 2024 spending plan and adjusted its capital spending for 2023.

    November 8, 2023, 6:23 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

  • 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

  • Crescent Point To Acquire Hammerhead Energy

    Crescent Point Energy Corp. has entered into an arrangement agreement to acquire Hammerhead Energy Inc., an oil and liquids-rich Alberta Montney producer, for total consideration of approximately $2.55 billion, including approximately $455 million in assumed net debt, consisting of cash and common shares of the company.

    November 6, 2023, 2:28 PM MST

  • Crescent Point/Hammerhead Deal: Financing

    Crescent Point Energy Corp. announced on Monday it was acquiring Hammerhead Energy Inc. for $2.55 billion, including approximately $455 million of Hammerhead’s net debt.

    November 6, 2023, 3 PM MST

  • Kakwa Condensate Drives Current Revenues, But Future Growth To Come From Attachie, Says ARC

    ARC Resources Ltd. expects to keep production flat at its prolific Kakwa condensate play in Alberta, with future production growth coming from its Attachie assets in northeast B.C., executives said at the company’s third quarter 2023 conference call.

    November 6, 2023, 6 AM MST

  • Tourmaline Anticipates Growing Exposure To AECO After 2024

    Tourmaline Oil Corp. views AECO as a competitive market for its gas after the startup of LNG Canada, says the company’s manager of capital markets.

    November 3, 2023, 12 AM MDT

  • 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

  • ARC Resources Lowers Planned Spending For 2024

    ARC Resources Ltd. expects to spend between $1.75 to $1.85 billion in 2024 to maintain production in the 350,000 to 360,000 boe/d as it advances its Attachie project in northeastern B.C.

    November 3, 2023, 6:42 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

  • Tourmaline Outlines Cardium Plans In North Deep Basin

    Tourmaline Oil Corp. has acquired acreage near a “very strong” Cardium oil discovery in the Resthaven-Kakwa area of the North Deep Basin.

    November 2, 2023, 10:53 AM MDT

  • Paramount Outlines 2024 Spending Of $830-$890 Million

    Paramount Resources Ltd. is budgeting 2024 capital expenditures of between $830 million and $890 million, $60 million at midpoint more than the previous high range of preliminary guidance.

    November 2, 2023, 6:14 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

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