Cardium

  • Higher Gas Prices Mark Shift In Deep Basin Activity: New DOB Special Report

    Deep Basin operators are shifting activity from the liquids-rich Cardium formation to the more productive Spirit River formation as optimism grows that higher natural gas prices are sustainable, according to a new report by the Daily Oil Bulletin.

    January 17, 2022, 9:48 AM MST

  • InPlay’s 2022 Capital Budget To Focus On Cardium ERH Wells

    InPlay Oil Corp. has approved a $58 million capital program for 2022, which is forecasted to deliver 2022 average production of 8,900–9,400 boe/d — 62–63 per cent light oil and liquids.

    January 12, 2022, 10:41 AM MST

  • Obsidian Completes Drilling Program On Schedule; Updates Hedging

    Obsidian Energy Ltd.’s second-half 2021 drilling activity was completed on schedule.

    January 6, 2022, 6:06 AM MST

  • Bonterra Outlines 2022 Spending Plan

    Bonterra Energy Corp. outlined 2022 capital guidance ranging from $55 to $65 million, which incorporates measured capital allocation with the optionality to adjust spending dependent on the strength of the commodity markets as recovery from the COVID-19 pandemic continues.

    December 16, 2021, 5:24 AM MST

  • Freehold Boosts Dividend; Sees Increased Drilling

    Freehold Royalties Ltd.’s board has declared a dividend of six cents per share to be paid on Dec. 15, 2021 to shareholders of record on Nov. 30, 2021.

    November 11, 2021, 6:32 AM MST

  • Record Output For InPlay

    InPlay Oil Corp.’s production for the third quarter of 2021 set another quarterly record for the company averaging 6,011 boe/d (64 per cent light oil & NGLs).

    November 10, 2021, 8:14 AM MST

  • Bonterra Output Up For Q3

    Bonterra Energy Corp. averaged 12,542 boe/d of production in Q3 2021, 25 per cent higher than in Q3 2020, and 12,389 boe/d in the first nine months of 2021, a 15 per cent increase over the comparative period the prior year.

    November 10, 2021, 8:49 AM MST

  • Obsidian’s Second Half Program ‘Advanced Substantially’

    Obsidian Energy Ltd.’s second half development program “advanced substantially” with the drilling of 11 wells (10.2 net) and three gross/net wells brought on production in the quarter.

    November 8, 2021, 6:19 AM MST

  • Well Services Market Improving, Calfrac Reports; Company Lifts Capital Budget

    Strong third quarter activity rates and revenues at Calfrac Well Services Ltd. are signs of a rapidly improving wells services market headed into 2022, the company said in its third quarter 2021 report to shareholders. 

    November 2, 2021, 8:45 AM MDT

  • Obsidian Has 2 Active Rigs In The Cardium

    Obsidian Energy Ltd. has two drilling rigs active in its Cardium asset.

    October 28, 2021, 12 AM MDT

  • Whitecap Continues Consolidation In Core Areas; Reports Strong Production Growth

    Whitecap Resources Inc. closed the acquisition of a private company in southeast Saskatchewan for $67 million.

    October 28, 2021, 7:20 AM MDT

  • Peyto Releases Inaugural ESG Report, Supports Early Action On Emissions

    In its first comprehensive ESG report, Deep Basin natural gas producer Peyto Exploration & Development Corp. has set new short-term targets for environmental performance in its environment, social and governance reporting.

    October 26, 2021, 6 AM MDT

  • 193 Wells Spud On PrairieSky Land In Q3; Oil The Focus

    During Q3 2021, third-party operators were active across Western Canada and on PrairieSky Royalty Ltd.’s royalty lands with 193 wells spud (98 per cent oil).

    October 25, 2021, 3 PM MDT

  • Whitecap Boosts 2021 Spending, Sets 2022 Capital Program At $470–$490 Million

    Whitecap Resources Inc. plans to spend $470–$490 million in 2022 and has accelerated its fourth quarter 2021 capital program in light of strong commodity prices and a desire to secure needed services and supplies, the company announced this morning.

    October 14, 2021, 11:02 AM MDT

  • TransGlobe Drills, Completes Trio Of Cardium Wells

    TransGlobe Energy Corporation successfully drilled, completed, and equipped one two-mile and two one-mile horizontal wells in the northern area of its Cardium reservoir extension at South Harmattan, first identified by the 2-20 well in 2019.

    September 29, 2021, 12 AM MDT

  • Petrus Closes $10 Million Private Placement

    Petrus Resources Ltd. has completed the previously announced transactions that will significantly reduce the company's total debt and also extend the maturity date of its senior secured credit facility.

    September 22, 2021, 2:54 PM MDT

  • For Peyto, The Cardium Has Been Big Part Of Its Past, Front And Centre In Its Future

    The Cardium play in west-central Alberta is very much a part of Peyto Exploration & Development Corp.’s corporate DNA and continues to play a prominent role in the company’s operational focus and efforts going forward.

    September 15, 2021, 12 AM MDT

  • Obsidian Running 2 Rigs In Cardium; Extends Interim CEO’s Contract

    Obsidian Energy Ltd. has two drilling rigs active in its Cardium asset as it continues with its second-half program.

    September 15, 2021, 6:53 AM MDT

  • Obsidian Continues To Be All-In On The Cardium

    With its dominant land position, deep inventory of high-return wells and the vast majority of its production derived from the Cardium, Obsidian Energy Ltd. is all-in on the west-central Alberta play.

    September 14, 2021, 3:59 AM MDT

  • Cardium Activity Continues At A Modest Pace Compared To Other Plays, But Still Has Lots To Give

    Although activity in the Cardium play in central Alberta is showing signs of rebounding slightly from a slowdown in recent years, it faces some challenges when compared to other plays in the Western Canadian Sedimentary Basin such as the Montney, Clearwater and Charlie Lake, says Patrick O’Rourke, an analyst with AltaCorp Capital Inc.

    September 13, 2021, 6:36 AM MDT

  • 2021 Results Leave InPlay With ‘Strong Foundation’ For 2022

    InPlay Oil Corp.’s 2021 results provide the company with a strong foundation heading into 2022, the company said in an update.

    September 9, 2021, 12 AM MDT

  • Q2 Round-Up: Bonterra, Prairie Provident

    Capital expenditures for Bonterra Energy Corp. totaled $31.0 million in the first half of 2021 including $7.6 million invested in Q2 2021.

    August 13, 2021, 12 AM MDT

  • Peyto’s Q2 Drilling Program Less Active Than Expected But Production ‘Held Up Pretty Well’

    Peyto Exploration & Development Corp.’s second quarter production “held up pretty well” despite the seasonal impacts of spring breakup and the loss of two rigs during the period due to maintenance and upgrades that took longer than anticipated to complete, says president and CEO Darren Gee.

    August 12, 2021, 11:14 AM MDT

  • Petrus Outlines Q3 Budget

    Petrus Resources Ltd. set a capital budget of $7.5 million in Q3 for the drilling of four gross (1.5 net) Ferrier wells and investment in facility expansion in North Ferrier.

    August 12, 2021, 6:47 AM MDT

  • InPlay Boosts Production Outlook

    InPlay Oil Corp.’s strong results in the first half of 2021 and continuing in the second half of 2021 from the Pembina drills have allowed the company to increase its 2021 annual average production guidance to between 5,500 and 5,750 boe/d (68 per cent light oil and NGLs).

    August 11, 2021, 12:56 PM MDT

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