Cardium

  • Obsidian Plans To 'Moderate' 2023 Capital Expenditure Program

    Obsidian Energy Ltd. is planning $260–$270 million in capital expenditures for development and exploration/appraisal activities in 2023, plus an additional $26–$28 million in decommissioning expenditures that accelerates its asset retirement obligations.

    January 31, 2023, 8:20 AM MST

  • Obsidian Announces Significant 2022 Reserves Value Increase

    Obsidian Energy Ltd. reported a substantial increase in its reserve values and volumes for 2022 over 2021, replacing reserves across all categories.

    January 31, 2023, 9:11 AM MST

  • Saturn Oil & Gas Bets Big On Maturing Tight Oil Plays

    Saturn Oil & Gas Inc.’s $525-million acquisition of Ridgeback Resources Inc. adds two mature tight oil plays in the Bakken and Cardium to its rapidly growing asset base, which the company says will provide long-term steady production and free cash flow once debt is paid down.

    January 24, 2023, 10:29 AM MST

  • InPlay Outlines Capital Plans For 2023

    InPlay Oil Corp. outlined a capital program of $75 – $80 million for 2023 which is forecasted to deliver annual average production of 9,500 – 10,500 boe/d (58 per cent – 61 per cent light oil and NGLs).

    January 18, 2023, 6:43 AM MST

  • DOB Land Sale Analysis: Ante Creek, Smoky, Marsh And Columbia Parcels Highlight Alberta’s Jan. 11 Sale

    In Alberta’s Jan. 11 land sale, the first sale for 2023, the province sold 51,313.2 hectares of P&NG leases and licenses bringing in $26.74 million. Additionally, 12,672 hectares of oilsands leases sold for $4.85 million. This brings the total cumulative bonus paid to-date for the year in Alberta to $31.59 million.

    January 16, 2023, 12 AM MST

  • Bonterra Lays Out 2023 Capital Plan

    Bonterra Energy Corp. laid out a fully-funded 2023 capital expenditures budget ranging between $120 to $125 million.

    December 16, 2022, 12 AM MST

  • Obsidian Rig Releases 14 Additional Wells

    Since the end of the third quarter, Obsidian Energy Ltd. rig released an additional 14.0 wells (13.4 net), including four Cardium wells (4.0 net) in Willesden Green, three Cardium wells (2.9 net) and one vertical Devonian well (0.5 net) in Pembina, and five Bluesky wells (5.0 net) and one Clearwater well (1.0 net) in Peace River.

    December 16, 2022, 6:59 AM MST

  • Baytex Outlines 2023 Capital Budget Of $575–$650 Million

    Baytex Energy Corp. outlined a 2023 exploration and development expenditures budget of $575–$650 million, which is designed to generate average annual production of 86,000 to 89,000 boe/d.

    December 8, 2022, 12 AM MST

  • Tamarack Valley Outlines 2023 Spending Plan

    Tamarack Valley Energy Ltd. plans to invest capital of $425 to $475 million in 2023, funded entirely through adjusted funds flow and equal to approximately 50 to 60 per cent of total 2023 adjusted funds flow at budget pricing of US$80/bbl WTI and C$4/GJ AECO.

    December 7, 2022, 12 AM MST

  • Spartan Delta Launches ‘Strategic Repositioning Alternatives’ Process

    Spartan Delta Corp. has started a formal process to evaluate strategic repositioning alternatives in an effort to enhance shareholder value.

    November 30, 2022, 6:05 AM MST

  • Active Drilling Program Helps Peyto Boost Q3 Volumes 16 Per Cent

    Peyto Exploration & Development Corp. third quarter output increased 16 per cent year-over-year as an increased capital expenditure program and strong drilling results helped boost volumes.

    November 10, 2022, 10:49 AM MST

  • Peyto Estimates 2023 Spending Of $425–$475 Million With More Activity In Summer Months

    While its official 2023 budget is still being finalized, Peyto Exploration & Development Corp. currently anticipates an organic capital program of $425–$475 million, which will use between four and five drilling rigs throughout the year.

    November 10, 2022, 11:35 AM MST

  • Petrus Sets 2023 Capital Spending Plans

    Petrus Resources Ltd.’s board of directors has approved a capital budget for 2023 of $130 million to $135 million.

    November 10, 2022, 12 AM MST

  • Active Capital Program For Bonterra In Q3

    Bonterra Energy Corp.’s capital expenditures in the first nine months of 2022 totaled $67.1 million and included $48.9 million directed to the drilling of 23 gross (22.7 net) wells and the completion, equip, and tie-in of 28 gross (27.7 net) wells, with six of the completed and equipped wells having been drilled late in 2021.

    November 10, 2022, 12 AM MST

  • InPlay Kicks Off Q4 Capital Program In Willesden Green

    InPlay Oil Corp. began its fourth quarter capital program drilling one (0.95 net) ERH well in Willesden Green which was brought on production in late October and is flowing without artificial lift and the start of drilling operations with its first two (2.0 net) Belly River wells.

    November 10, 2022, 12 AM MST

  • Freehold Royalties Reports Hike In Drilling

    Freehold Royalties Ltd. reported 304 gross wells were drilled on its royalty lands in Q3-2022, a 70 per cent increase versus the same period in 2021.

    November 9, 2022, 12 AM MST

  • Obsidian Bumps Up Capital Spending For 2022; Busy Development Program Continues

    Obsidian Energy Ltd. has bumped up its capital expenditure range.

    November 8, 2022, 7 AM MST

  • Whitecap Lays Out 2023 Budget Of $900–$950 Million

    Whitecap Resources Inc. laid out a 2023 capital investment budget of $900–$950 million and average production guidance of 170,000–172,000 boe/d (64 per cent liquids), resulting in significant free funds flow for elevated shareholder returns in 2023, said the company.

    September 28, 2022, 12 AM MDT

  • InPlay Production At Record Levels; 2022 Budget Increased

    InPlay Oil Corp. is currently producing at record production levels of 9,600 boe/d (57 per cent light oil and NGLs) based on field estimates.

    September 28, 2022, 6:38 AM MDT

  • Petrus Hikes Capital Budget

    Market conditions have improved materially since the release of Petrus Resources Ltd. initial 2022 budget in December of last year, said the company.

    September 20, 2022, 12 AM MDT

  • Obsidian In $30.0 Million Term Loan Repayment

    Obsidian Energy Ltd. announced the full repayment of the $30.0 million non-revolving term loan from free cash flow from operations.

    September 13, 2022, 5:57 AM MDT

  • DOB Land Sale Analysis: Evi, Nipisi, Lloydminster And Phoenix Parcels Highlight Alberta’s Sept. 7 Sale

    The province sold 13,712 hectares of P&NG licences and leases in the Sept. 7 land sale bringing in $2.85 million. Additionally, 10,491 hectares of oilsands leases sold for $2.88 million. This brings the total cumulative bonus paid to-date in Alberta to $292.5 million.

    September 12, 2022, 8:40 AM MDT

  • InPlay Output Surges In Q2

    InPlay Oil Corp.’s production averaged 9,063 boe/d (57 per cent light crude oil and NGLs) in the second quarter of 2022, not including over 5,000 bbls of light crude oil inventory build (equal to over 55 bbls/d during the quarter) that was not sold due to difficulty trucking oil as a result of wet weather at the end of June.

    August 12, 2022, 12 AM MDT

  • Peyto Overcomes Wet Weather Challenges To Boost Q2 Output; Earnings Increase 641%

    Despite an extremely wet June that hampered operations, Peyto Exploration & Development Corp.’s Q2 output increased 17 per cent year-over-year as an increased capital expenditure program over the past year helped pad volumes.

    August 11, 2022, 11:19 AM MDT

  • Petrus Returned To The Field In Q2

    Petrus Resources Ltd.’s 2022 capital program resumed in the second quarter with two (1.6 net) operated wells spud and an additional three (0.15 net) non-operated wells spud in late June.

    August 11, 2022, 12 AM MDT

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