• 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

  • Bonterra Commits To Spending $25 Million, Suspends Dividend

    Bonterra Energy Corp. has committed to spending capital of approximately $25 million and will defer any additional drilling or completions capital investment until pricing is more supportive.

    March 11, 2020, 9:22 AM MDT

  • Tamarack Valley Busy Working The Cardium, Viking

    Tamarack Valley Energy Ltd. reported stable production for 2019, and slightly lower funds flow for the year.

    March 6, 2020, 8:07 AM MST

  • Freehold Sees Slight Decline In Output In 2020; Expects Similar Numbers In 2020

     Freehold Royalties Ltd. expects activity levels will remain strong on its royalty lands in 2020 with activity levels forecast to be similar to 2019. 

    March 6, 2020, 10:53 AM MST

  • Peyto Boosts Liquids Production In 2019

    Liquids production at Peyto Exploration & Development Corp. was up 13 per cent for the year and nine per cent in the fourth quarter despite lower total production as the company reported its 20th consecutive year of profitability.

    March 5, 2020, 11:33 AM MST

  • Citing Commodity Prices, Peyto Deferring Activity

    Peyto Exploration & Development Corp. noted that the coronavirus outbreak in China and an oversupply of natural gas in North America have caused commodity prices for WTI oil, NYMEX gas and AECO gas to fall sharply since Peyto announced its 2020 capital budget.

    February 20, 2020, 7:44 AM MST

  • Petrus Focused On Debt Reduction, Greater Oil Weighing

    Petrus Resources Ltd. says it plans to drill two (two net) Cardium light oil wells in the Ferrier area of west-central Alberta with an approved first quarter 2020 capital budget of $9 million.

    February 19, 2020, 10:19 AM MST

  • Petrus Adds PDP Light Oil Reserves

    In 2019, Petrus Resources Ltd.’s development program generated proved developed producing (PDP) reserve additions of 1.3 million boe of which 45 per cent is light oil.

    February 19, 2020, 12 AM MST

  • Bonavista To Spend $100-$120 Million On Capital In 2020

    Bonavista Energy Corporation has set a target to spend between $100 million and $120 million  – with the majority allocated to its West Central core area – on its exploration and development (E&D) program in 2020.

    February 14, 2020, 6 PM MST

  • Bonterra Approves $70-Million, Cardium-Focused Budget For 2020

    Bonterra Energy Corp. announced an initial 2020 capital budget of $70 million.

    February 13, 2020, 7:50 AM MST

  • Less Drilling On PrairieSky Lands In Q4

    PrairieSky Royalty Ltd. saw less drilling on its lands in the fourth quarter.

    February 11, 2020, 8:14 AM MST

  • Yangarra Drilled Fewer Wells Than Planned For 2019 As Money Directed Toward Infrastructure

    Yangarra Resources Ltd. had originally planned to drill and complete 24 wells in 2019, but that was lowered to 17 as the budget was re-directed to infrastructure to accommodate Chedderville opportunities.

    February 6, 2020, 4:03 PM MST

  • Obsidian Boosts 1P, 2P Reserves

     Obsidian Energy Ltd. boosted its 2019 proved and proved plus probable reserves.

    February 6, 2020, 9:43 AM MST

  • TransGlobe Outlines Capital Spending Plan For 2020

    TransGlobe Energy Corporation has set its 2020 capital budget at $37.1 million (before capitalized G&A), with $13.4 million earmarked for Canada.

    February 5, 2020, 8:06 AM MST

  • TransGlobe Reviewing Drilling Program As A Result Of Harmattan Well

    As a result of its initial success of a two-mile appraisal/outpost well in South Harmattan, TransGlobe Energy Corporation is reviewing its drilling program for 2020 to incorporate this new well result and high-grade the opportunities to deploy capital across its portfolio.

    January 30, 2020, 5:44 AM MST

  • InPlay To Spend $35 Million For 2020

    InPlay Oil Corp. has approved a capital program of $35 million for 2020, focusing on sustainability and flexibility.

    January 21, 2020, 7:46 AM MST

  • Wells From Obsidian’s Cardium Program Online

    All 13 wells from Obsidian Energy Ltd.’s second half 2019 Cardium drilling program were successfully brought online prior to the end of December.

    January 17, 2020, 12 AM MST

  • Cardium Drilling Will Highlight Petrus’s Q1 Spending

    Petrus Resources Ltd. plans to spend $9 million in the first quarter. 

    January 14, 2020, 5:32 AM MST

  • Tamarack Valley To Spend $170-$180MM For 2020

    Tamarack Valley Energy Ltd. announced a 2020 budget between $170 and $180 million which is forecast to maintain volumes consistent with the company’s 2019 annual average production of 23,500 to 24,500 boe/d (64 to 66 per cent oil and NGL).

    January 10, 2020, 12 AM MST

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