Cardium

  • Obsidian Makes Exchange Offer For Bonterra

    Obsidian Energy Ltd. has formally launched its offer to purchase all of the issued and outstanding common shares of Bonterra Energy Corp. for consideration consisting of two common shares of Obsidian for each Bonterra share tendered.

    September 21, 2020, 6:25 AM MDT

  • Take No Immediate Action, Bonterra Tells Shareholders

    Bonterra Energy Corp. has received the unsolicited offer from Obsidian Energy Ltd. to purchase all the issued and outstanding common shares of Bonterra.

    September 21, 2020, 4:27 PM MDT

  • Obsidian Announces Intention To Launch Exchange Offer For Bonterra

    Obsidian Energy Ltd. today announced it intends to make an offer to purchase all of the issued and outstanding common shares in the capital of Bonterra Energy Corp. for consideration consisting of two common shares of Obsidian for each Bonterra share.

    September 8, 2020, 6:43 AM MDT

  • Bonterra ‘Remains Aware’ Of Obsidian Interest

    Bonterra Energy Corp. said it “remains aware” of Obsidian Energy Ltd.’s interest in a potential deal between the two companies, but the company will not comment further on the public letter issued by Obsidian on Monday.

    September 1, 2020, 12 AM MDT

  • Obsidian Proposes Combination With Bonterra In Public Letter; Would Create ‘Cardium Champion’

    Obsidian Energy Ltd. sent a letter to Bonterra Energy Corp. proposing a combination transaction that would be expected to result in significant cost synergies and drive substantial accretion across all financial metrics for both Obsidian Energy and Bonterra.

    August 31, 2020, 4:27 AM MDT

  • Bonterra In BDC Term Facility

    Bonterra Energy Corp. has entered into a non-binding term sheet with the Business Development Bank of Canada (BDC), in partnership with its syndicate of lenders, for a non-revolving four-year term facility of potentially up to $45 million and subject to formal credit approval from BDC and the syndicate. ​​​​​​​

    August 20, 2020, 3:56 PM MDT

  • Peyto Is Running Four Rigs; Company Experiences Rainy Weather In Q2

    Peyto Exploration & Development Corp. currently has four drilling rigs doing the job of three — operating intermittently in the Greater Sundance and Brazeau core areas. Those rigs could drill 40-per-cent more wells than is planned for 2020, and the company expects them to be at full utilization in 2021 with an expanded capital program.  

    August 13, 2020, 11:05 AM MDT

  • Tamarack Valley Hedging Gains Help Offset Q2 Loss

    Tamarack Valley Energy Ltd.  generated free adjusted funds flow of approximately $14.8 million for the second quarter of 2020 representing a total payout ratio of approximately 30 per cent which it said will be directed to further enhancing its financial position.

    August 13, 2020, 7:43 AM MDT

  • Obsidian To Defer Development Spending In 2H

    In light of the current commodity price environment, Obsidian Energy Ltd. has deferred development spending and plans for a reduced second-half 2020 capital expenditure program of approximately $13 million.

    August 4, 2020, 10:53 AM MDT

  • TORC’s Q2 Output Declines Due To Voluntary Shut-Ins

    Due to voluntary shut-in volumes, TORC Oil & Gas Ltd.’s quarterly production averaged 24,905 boe/d, from 28,515 boe/d in the first quarter of 2020 and 28,326 in the second quarter of 2019.

    July 29, 2020, 2:32 PM MDT

  • Peyto Looks To Fill Vacant Space At Its Natural Gas Plants With Third-Party Volumes

    When it comes to its nine natural gas plants connected with an extensive pipeline network, Peyto Exploration & Development Corp.’s focus of late has been on attracting nearby third-party volumes, says the chief operating officer.

    July 10, 2020, 7:20 AM MDT

  • Spartan Delta Current Output At 26,000 Boe/d

    Spartan Delta Corp.’s current production is estimated at  26,000 boe/d, primarily from the Ferrier and Willesden Green areas, compared to 25,000 boe/d (30 per cent oil and natural gas liquids) estimated at the time of closing the Bellatrix Exploration Ltd. transaction five weeks ago.

    July 6, 2020, 5:59 AM MDT

  • Quiet Q2 For TransGlobe

    Consistent with TransGlobe Energy Corporation’s revised 2020 budget, there has been no drilling or completion activity during Q2 2020.

    June 29, 2020, 10:33 AM MDT

  • Obsidian Shut-in Volumes Coming Back On Production

    Obsidian Energy Ltd. has it anticipates that as of July 1, 2020 it will have returned approximately 3,300 boe/d or 88 per cent of its previously announced shut-in volumes with July 2020 production expected to average 26,100 boe/d (65 per cent oil and NGL).  

    June 23, 2020, 10:44 AM MDT

  • Steelhaus Named Energy Excellence Awards Champion For Rapid Response Downhole Tool Delivery

     Today, we feature Steelhaus Technologies Inc., the champion in Exporting Excellence in the subcategory of Oilfield and Professional Services.

    June 5, 2020, 6:26 AM MDT

  • Q1 Round-Up: Bonterra, Questerre, Cardinal, Pine Cliff, TransGlobe

    Bonterra Energy Corp. expects its 2020 capital program to remain suspended until commodity prices improve.

    May 15, 2020, 10:14 AM MDT

  • Peyto’s Q1 Efforts Focused On Adjusting To COVID-19 Impacts, Altering Drilling Plans

    Peyto Exploration & Development Corp. says preparation for and reaction to the sweeping global pandemic dominated the first quarter of 2020 and forced the company to reduce spending and alter its drilling plans.

    May 13, 2020, 11:16 AM MDT

  • Peyto Incurs Rare Q1 Loss, First Ever Impairment Charges

    Peyto Exploration & Development Corp. incurred a rare first quarter net loss and reduced output as the double impact of COVID-19 related demand destruction and an exceedingly weak commodity price environment battered the bottom line and negatively affected operations.

    May 13, 2020, 11:34 AM MDT

  • Q1 Round-Up: Perpetual Deferring Capital; Minimal Spending For Petrus

    Perpetual Energy Inc.’s capital spending in the first quarter of 2020 of $5.2 million was primarily directed to the four-well (4.0 net) heavy oil drilling program targeting the Clearwater formation in the Ukalta area of eastern Alberta.

    May 5, 2020, 7:46 AM MDT

  • Fewer Wells Spud On PrairieSky Lands Year-Over-Year

    During the quarter, 170 wells (99 per cent oil) were spud on PrairieSky Royalty Ltd. lands which was ahead of Q4 2019 spuds of 150 wells (99 per cent oil) but below Q1 2019 when 209 wells (93 per cent oil) were spud.

    April 21, 2020, 12 AM MDT

  • Petrus Outlines $500K Q2 Capital Program

    Petrus Resources Ltd.’s board of directors has approved a second quarter 2020 capital budget of $500,000, which provides for non-discretionary maintenance capital only. 

    April 9, 2020, 7:28 AM MDT

  • Clearview Resources Shuts In Light Oil Production

    In light of weak commodity pricing, Clearview Resources Ltd. says it has shut in 150 boe/d of uneconomic production and is closely monitoring both the West Texas Intermediate (WTI) benchmark pricing as well as the widening Edmonton Par price differential.

    April 9, 2020, 6 AM MDT

  • TransGlobe Rig Releases Cardium Well; Implements Cost Cuts

    TransGlobe Energy Corporation has rig released a two-mile Cardium development well.

    April 2, 2020, 12 AM MDT

  • Cost Reductions Help Strengthen Obsidian Funds Flow

    Obsidian Energy Ltd. reported stronger funds flow from operations of $54 million (2018-negative $2 million) in the 2019 fourth quarter and $160 million (2018-$92 million) for the year despite lower production, driven in part by the company’s focus on cost reduction and execution of its drilling program.

    April 2, 2020, 10:15 AM MDT

  • InPlay Pulls Back On Planned 2020 Capital Spending

    Light oil-focused InPlay Oil Corp. says it no longer plans $35 million in capital spending in 2020, instead managing spending and adjusting its capital program accordingly throughout the year, deferring any capital decisions for the second half of this year.

    March 20, 2020, 5:59 AM MDT