Cardium

  • Obsidian Updates Phase 2 Cardium Development, Outlines H1 2020 Plan

    Obsidian Energy Ltd. has completed drilling the 13 wells planned for 2019, with approval for nine wells in the first half of 2020, completing the Phase 2  Cardium program in the Willesden Green area.

    December 2, 2019, 7:18 AM MST

  • Number Of Wells Drilled On Freehold’s Royalty Lands Climb

    Wells drilled on Freehold Royalty Ltd.’s royalty lands totalled 181 (6.1 net) in the quarter compared to 175 (6.3 net) in Q3 2018.

    November 14, 2019, 8:28 AM MST

  • Petrus To Spend $5.5 Million In Q4

    Petrus Resources Ltd.’s board of directors has approved a fourth quarter 2019 capital budget of $5.5 million, based on a current forecast for commodity futures pricing, anticipated service costs and current activity levels.

    November 13, 2019, 9:31 AM MST

  • ARC Drilled 26 Wells In Q3, Completes 29

    ARC Resources Ltd. invested $161.9 million in the third quarter of 2019 to drill 26 wells (14 liquids-rich wells and 12 oil wells) and complete 29 wells.

    November 8, 2019, 12 AM MST

  • Tamarack Valley Sets ‘Conservative’ Preliminary 2020 Budget

    Tamarack Valley Energy Ltd. says its preliminary 2020 budget anticipates that capital expenditures and average production will remain consistent with 2019 levels and range between $170 million and $180 million and 23,500 to 24,500 boe/d, respectively, while the oil and NGL weighting is expected to increase to a range of 64–66 per cent.

    November 7, 2019, 11:33 AM MST

  • InPlay Cuts Capital Program, Still On Track To Meet Production Guidance

    InPlay Oil Corp. is on pace to meet its annual average production guidance while reducing its 2019 capital expenditure program by approximately 11 per cent to $32 million from $36 million.

    November 7, 2019, 7:02 PM MST

  • Bonterra Posts Q3 Loss Resulting From Lower Production, Prices

    Lower production and weaker oil prices in the third quarter of 2019 resulted in a loss of $1.28 million (four cents a share) for Bonterra Energy Corp. compared to a profit of $5.76 million in the comparable 2018 period.

    November 7, 2019, 7:07 PM MST

  • Peyto Sketches Out 2020 Plans

    While specifics of the 2020 budget are not yet finalized, a capital program of $250 million to $300 million, funded entirely from free cash flow, would add 25,000-30,000 boe/d, said Peyto Exploration & Development Corp. in its third quarter results.

    November 6, 2019, 4 PM MST

  • Tourmaline Production Up; Defers Select Dry Gas Completions

    Third quarter 2019 production for Tourmaline Oil Corp. averaged 289,578 boe/d, up three per cent from the previous quarter and a 14 per cent increase over Q3 2018.

    November 6, 2019, 3:32 PM MST

  • Record Quarterly Output For TORC

    TORC Oil & Gas Ltd.  record quarterly production of 28,337 boe/d, up from 28,326 boe/d in the second quarter of 2019 and 27,160 boe/d in the third quarter of 2018.

    November 6, 2019, 2:55 PM MST

  • Whitecap Enters Deep Basin JV, Sets 2020 Capital Budget

    Whitecap Resources Inc. has entered a joint venture with a progressive private company with a large land footprint in the oil-rich Montney window in the Deep Basin.

    October 31, 2019, 10:43 AM MDT

  • Yangarra Lays Out Spending Plan For 2020; Lifts 2019 Budget

    Yangarra Resources Ltd. has approved a capital budget of $120 million for 2020.

    October 31, 2019, 8:33 AM MDT

  • Whitecap Lowers 2019 Capex, Production On Target

    Whitecap Resources Inc. is on track to achieve its targeted production for the year despite spending less capital.

    October 31, 2019, 3:28 PM MDT

  • TransGlobe Completes Drilling Program In Q3

    TransGlobe Energy Corporation completed its 2019 Canadian drilling program in the third quarter.

    October 30, 2019, 9:08 AM MDT

  • PrairieSky’s Q3 Output Drops On Reduced Lessee Activity

    PrairieSky Royalty Ltd. saw a drop in activity on its lands in the third quarter with 190 wells spud, a 21 per cent reduction from 242 wells during the same period last year.

    October 29, 2019, 8:27 AM MDT

  • TransGlobe’s 4 Cardium Wells Should Be On Production In Q4

    During the quarter, TransGlobe Energy Corporation drilled and cased three Cardium development oil wells (one-mile horizontal wells) in the Harmattan area and one Cardium outpost (appraisal) well (a two-mile horizontal well) in the South Harmattan area, which completed the 2019 drilling program.

    October 10, 2019, 7:27 AM MDT

  • Obsidian’s Second Half Cardium Program ‘Progressing As Planned’

    Obsidian Energy Ltd.’s 13-well Willesden Green Cardium development program planned for the second half of the year is progressing as planned, with six wells rig released.

    September 30, 2019, 6:43 AM MDT

  • Alberta Land Sale Attracts Lowest Average Price Of The Year

    Alberta’s land sale attracted $2.1 million on Wednesday, with a 2019 average price low of $65.98. Industry picked up 31,840 hectares.  

    September 12, 2019, 7:55 AM MDT

  • Obsidian Energy In Strategic Alternatives

    Obsidian Energy Ltd. has started a formal process to explore strategic alternatives.

    September 10, 2019, 7:18 AM MDT

  • Producers Lay Out Drilling Plans For Back End Of 2019

    With an active drilling rate that hovered around the 25 per cent mark for the majority of the first half 2019, it came as no surprise that drilling programs were measured and deferred.

    August 26, 2019, 10 AM MDT

  • The Future Of Oil And Gas Exploration In Canada

    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

  • Natural Gas Producers Respond To Volatile Market By Reining In Spending

    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 Continued To Increase Cardium Output In Q2

    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

  • Q3 Capital Budget For Petrus Calls For Drilling, Debt Repayment

    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’s Q2 Canadian Production Down Slightly

    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

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