Cardium

  • Highwood Taking Obsidian Stake At Peace River For Less Than $100MM

    A partnership that nine years ago sold its 45 per cent minority stake for $817 million is now selling its 55 per cent majority position for less than $100 million.

    May 17, 2019, 4:45 AM MDT

  • Tamarack Valley Waterflood To Have ‘Significant’ Effect On Company Sustainability, Says CEO

    A $30 million investment in 2018 in a waterflood at Tamarack Valley Energy Ltd.’s Viking light oil play at Veteran in central Alberta should pay dividends next year, shareholders heard Monday.

    May 14, 2019, 6 AM MDT

  • TransGlobe Ties In Cardium Wells

    In Canada, TransGlobe Energy Corporation equipped and tied in six (five net) Cardium oil wells (from the 2018 capital program) in the Harmattan area during January.

    May 13, 2019, 6:55 AM MDT

  • Obsidian Increasing Cardium Focus In 2019 Capital Program

    Obsidian Energy Ltd. says it now plans to drill a total of 18 short-cycle, light oil Cardium wells in 2019, reaffirming its focus on the highest margin asset in the company’s portfolio.

    May 10, 2019, 11:10 AM MDT

  • Self-Owned Infrastructure, Growth Through Drill Bit Prove Profitable For Yangarra

    Coming out of a bust cycle in the oilpatch, Yangarra Resources Ltd. has grown yearly average production by 64 per cent in 2018 to 9,425 boe/d, completed an infrastructure build-out it calls instrumental to its future growth strategy and added a new core area “with stellar well results,” the company reported at its annual general meeting Thursday.

    May 10, 2019, 11:22 AM MDT

  • Tamarack Valley To Review Spending For Second Half

    Tamarack Valley Energy Ltd. will re-evaluate its capital allocation strategy in the second half of 2019 to determine whether changes are required to its original capital budget of $170 to $180 million based on the status of the curtailment order and the commodity price outlook.

    May 10, 2019, 7:30 AM MDT

  • Gear Lays Out Capex Plan

    Gear Energy Ltd. intends to reduce outstanding net debt by approximately 25 per cent through the first half of 2019.

    May 9, 2019, 12 AM MDT

  • InPlay Program Focuses On Cardium

    In the first quarter of 2019 InPlay Oil Corp. drilled 2.7 net extended reach horizontal (ERH) wells with the majority of the remaining 2019 capital planned to be spent in the second half of the year on approximately six net additional Cardium ERH wells. 

    May 9, 2019, 12 AM MDT

  • Peyto CEO Hopeful UCP Government Will Lessen Regulatory Burden; Cardium Program Continues To Grow

    Peyto Exploration & Development Corp.’s president and CEO is optimistic new Alberta Premier Jason Kenney and his United Conservative Party (UCP) government will lend a helping hand to the province’s struggling oil and gas sector.  

    May 8, 2019, 10:56 AM MDT

  • TORC Hikes Dividend

    With continued production and cash flow per share growth, TORC Oil & Gas Ltd. has approved a 14 per cent increase to its annual dividend. 

    May 8, 2019, 12 AM MDT

  • Gross Wells Down In Q1, Net Up: Freehold

    For the first three months of 2019, 147 (7.3 net) wells were drilled on Freehold Royalties Ltd. royalty lands, down 38 per cent on a gross measure but up 14 per cent on a net measure versus the same period in 2018.

    May 8, 2019, 12 AM MDT

  • Bonterra Layers In Oil Sales Contracts

    In order to protect funds flow, Bonterra Energy Corp. has layered on 2,000 bbls/d of various physical oil delivery sales contracts through the end of September 2019 at various Canadian realized oil pricing ranging from C$72.99 to C$77.35/bbl.

    May 7, 2019, 12 AM MDT

  • Petrus Lays Out Capital Program Of $7-$8MM For Q2

    Petrus Resources Ltd.’s board of directors approved a second quarter 2019 capital budget of $7 to $8 million, based on a current forecast for commodity futures pricing, anticipated service costs and current activity levels. ​​​​​​​

    May 7, 2019, 7:04 AM MDT

  • Regulatory Challenges, Pipeline Egress, Weigh On Natural Gas Prices: Bonavista CEO

    While Bonavista Energy Corporation is a strong believer in the long-term future of natural gas, the next couple of years could be rough, the company’s chief executive warned Thursday.

    May 3, 2019, 12 AM MDT

  • Dividend Increase For Whitecap; ‘Defensive’ Capital Program In Q1

    Whitecap Resources Inc. announced a 5.6 per cent increase to its monthly dividend.

    May 1, 2019, 6:33 AM MDT

  • With New Technology, Cardium A Play That Keeps On Giving

    One of the most prolific plays in Western Canada, with almost six decades of oil and gas output under its belt, with production peaking in the 1970s, the Cardium formation has been reawakened with the technologies that have made the shale and tight gas and oil revolution in the U.S.

    April 30, 2019, 6 AM MDT

  • Cardium Players Continue To Advance Programs, Fine-Tune Operations

    While the Montney and Duvernay receive the lion’s share of industry buzz, operators in the Cardium play in central Alberta continue to execute their respective drilling programs despite the ongoing challenges facing producers in the Western Canadian Sedimentary Basin.

    April 29, 2019, 4:05 AM MDT

  • Highlights Of Cardium Programs

    The following is a sampling of recently announced plans for other Cardium players, aside from the ones contained in this story.

    April 29, 2019, 4:08 AM MDT

  • Western Energy Relocates Service Rigs To California

    Given the outlook for oilfield services in Canada, Western Energy Services Corp. says it has begun establishing well servicing operations in the United States.

    April 25, 2019, 7:54 AM MDT

  • TransGlobe Q1 Canadian Production Averaged 2,300 Boe/d

    TransGlobe Energy Corporation’s Q1 Canadian production averaged 2,300 boe/d.

    April 24, 2019, 12 AM MDT

  • Obsidian Reports ‘Continued Cardium Success’

    After proving the viability of a quick cycle, light oil, primary production campaign in early 2018, Obsidian Energy Ltd. began a dedicated execution program starting in July 2018 and carrying through to breakup in March 2019.

    April 16, 2019, 7:55 AM MDT

  • InPlay Focused On Cardium In 2018, Continuing This Year

    InPlay Oil Corp. executed a $50.2 million capital program during 2018, focused on the Willesden Green bioturbated Cardium formation.

    March 20, 2019, 7:24 AM MDT

  • Petrus Outlines Q2 Spending

    Petrus Resources Ltd. announced a second quarter 2019 capital budget of $7–$8 million, based on a current forecast for commodity futures pricing, anticipated service costs and current activity levels.

    March 14, 2019, 8:06 AM MDT

  • TransGlobe’s Q4 Canadian Production Decreases Four Per Cent

    TransGlobe Energy Corporation produced an average of 14,439 boe/d in 2018 as compared to 15,506 boe/d a year earlier, a seven per cent decrease year over year.  

    March 13, 2019, 9:17 AM MDT

  • Bonterra Picks Up Cardium Assets

    For 2018, Bonterra Energy Corp. invested $78.7 million in net capital expenditures, or four per cent less than in 2017.

    March 13, 2019, 7:43 AM MDT