The oil and gas industry in Canada is founded upon a tremendous history of exploration, beginning in the mid-19th century in southern Ontario and expanding across the country throughout the 20th century.
August 20, 2019, 7:27 AM MDT
Second-quarter earnings highlighted the challenges of the volatile AECO market as Canadian producers tightened production guidance, reduced spending or deferred projects until the second half of the year — when prices are cautiously expected to improve.
August 14, 2019, 7:59 AM MDT
Obsidian Energy Ltd. maintained strong operational and financial results in the second quarter as it continued to focus on its high-quality, light oil Cardium asset.
August 14, 2019, 9:01 AM MDT
Petrus Resources Ltd.’s board of directors has approved a third quarter 2019 capital budget of $7 million that is expected to include drilling and completion activities for three gross (1.5 net) Cardium light oil wells at Ferrier.
August 12, 2019, 7:28 AM MDT
TransGlobe Energy Corporation second quarter Canadian oil production averaged 788 bbls/d during the quarter, a decrease of 106 bbls/d (12 per cent) from the previous quarter, primarily due to natural declines.
August 12, 2019, 10:59 AM MDT
Bonterra Energy Corp. says its original 2019 capital budget of $57–$77 million remains intact and is expected to be near the low range of guidance.
August 9, 2019, 8:10 AM MDT
Peyto Exploration & Development Corp. continued to focus on development of its liquids-rich Cardium play in the second quarter, despite the slowdown due to spring breakup and extremely wet surface conditions in June.
August 8, 2019, 11:13 AM MDT
InPlay Oil Corp. drilled two wells (2.0 net) in the second quarter that were originally scheduled for the third quarter.
August 8, 2019, 12 AM MDT
More than half the wells drilled on Freehold Royalties Ltd.’s lands were in Saskatchewan and Manitoba in the first six months of the year.
August 7, 2019, 12 AM MDT
ARC Resources Ltd. reported average daily production of 134,938 boe/d in the second quarter, up from 127,879 boe/d in the year-prior quarter, with the company’s Lower Montney development activities continuing to grow its high-value condensate production.
August 1, 2019, 8:05 AM MDT
TORC Oil & Gas Ltd. reported record quarterly production of 28,326 boe/d for Q2, up from 23,059 boe/d in the second quarter of 2018.
August 1, 2019, 12 AM MDT
A “surprise” and “dramatic increase” in well productivity in the Eagle Ford could guide Baytex Energy Corp.’s development of the East Duvernay.
July 11, 2019, 11:07 AM MDT
InPlay Oil Corp.’s production for the second quarter, based on field estimates, is expected to have averaged over 5,100 boe/d.
July 8, 2019, 7:26 AM MDT
Tourmaline Oil Corp. is continuing to work at growing third party revenue and revenue from midstream operations will become a significant and growing business, shareholders heard Wednesday.
June 6, 2019, 12 AM MDT
Obsidian Energy Ltd. is continuing to focus on the Cardium with a recent deal to sell its stake in the Peace River Oil Partnership (PROP) while actively marketing its Alberta Viking assets.
June 6, 2019, 8:55 AM MDT
IHS Markit is forecasting 40 per cent production growth in light oil production in the next three to five years that will come not from the usual suspects — like the Montney, Duvernay and Spirit River — but from surprisingly profitable plays flying under the radar.
June 5, 2019, 6 AM MDT
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
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
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 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
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 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 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
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 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