Clearwater

  • Good Times Back For Energy Industry, But Path Ahead Uncertain: CAOEC Panel

    Western Canada’s oil and gas sector is back on solid footing as higher prices have allowed operators to repair balance sheets and invest in new production, a panel of industry leaders told the audience at the at the Canadian Association of Energy Contractors (CAOEC) 2023 State of the Industry forecast event in Calgary.

    November 24, 2022, 10:18 AM MST

  • DOB Land Sale Analysis: Evi, Elmworth, Craigend Parcels Highlight Alberta’s Nov. 16 Sale

    The province sold 11,491.6 hectares of P&NG leases and licences in the Nov. 16 land sale bringing in $11.68 million. Additionally, 7,616 hectares of oilsands leases sold for $2.29 million. This brings the total cumulative bonus paid to-date in Alberta to $429.2 million.

    November 21, 2022, 6 AM MST

  • Headwater Announces Results Of 2 Stratigraphic Exploration Test Wells

    Headwater Exploration Inc. announced the results of its two stratigraphic exploration test wells.

    November 15, 2022, 7:17 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

  • Ensign’s Operating Time, Revenue In Canada Jumps In Q3

    Ensign Energy Services Inc. recorded year-over-year increases in both drilling operating days and well servicing operating hours in Canada during the three-month span ending Sept. 30, 2022.

    November 8, 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

  • Perpetual Outlines 2023 Spending Plan

    Perpetual Energy Inc.'s board of directors approved a capital budget of $29–$32 million for 2023, including $5–$7 million to be spent in the first quarter for pipeline infrastructure and to drill two (1.0 net) wells at East Edson.

    November 8, 2022, 12 AM MST

  • Pembina Pipeline Reloading Balance Sheet To Fund Growth Opportunities

    Pembina Pipeline Corporation plans on using any excess cash flow generated in the next year to reload its balance sheet in anticipation of funding a long list of potential growth opportunities worth up to $4 billion, company executives told analysts at its third quarter conference call.

    November 7, 2022, 12 AM MST

  • Third Quarter Results Call Officially Signals The Changing Of The Guard At Baytex

    It was the passing of the torch during Baytex Energy Corp.’s Q3 results conference call Friday, as now retired president and CEO Ed LaFehr delivered the quarterly rundown to analysts for the last time and his successor, Eric Greager, assumed the top role.

    November 7, 2022, 12 AM MST

  • CNRL Continues To Grow Clearwater Play; In Situ Solvent Enhanced EOR Pilots Encouraging

    Canadian Natural Resources Limited continues to grow its Clearwater heavy oil play and says the asset competes well for capital within the company’s vast portfolio.

    November 4, 2022, 12 AM MDT

  • Strong Clearwater Results Help Boost Baytex’s Q3 Volumes

    Baytex Energy Corp. says it’s “building operational momentum” in the Clearwater as the company approaches 2023, with current production in the play of 10,000 bbls/d driving an expected corporate exit rate production of 87,000 to 88,000 boe/d.

    November 4, 2022, 10:40 AM MDT

  • Headwater Releases Preliminary 2023 Budget

    Headwater Exploration Inc. outlined an initial capital budget for 2023 of $200 million resulting in 2023 annual average production of 18,000 boe/d (92 per cent heavy oil).

    November 4, 2022, 12 AM MDT

  • Strong Natgas Volumes Help CNRL Set Quarterly Production Record; Earnings Spike

    Thanks in part to the highest natural gas output in its history, Canadian Natural Resources Limited achieved record total quarterly production of approximately 1.34 million boe/d while third quarter earnings climbed to approximately $2.8 billion.

    November 3, 2022, 11:22 AM MDT

  • SECURE Energy Sees Higher Activity Levels, Net Income Surges 373% In Q3

    Oil terminalling and pipeline volumes for SECURE Energy Services Inc. climbed 26 per cent during the three-month period ending Sept. 30, 2022, compared to the same time a year earlier.

    November 2, 2022, 2:48 PM MDT

  • Topaz’s Average Royalty Output Down Sequentially

    Topaz Energy Corp.’s Q3 2022 average royalty production of 16,485 boe/d decreased one per cent from Q2 2022 (16,676 boe/d) due to planned and unplanned maintenance activities that limited certain natural gas (and natural gas liquids) processing capability.

    November 1, 2022, 2:34 PM MDT

  • High Specification Drilling Rigs Driving Increasing Day Rates, But Further Increases Needed: Precision’s Neveu

    Demand for high specification drilling rigs with well-trained crews and additional equipment capable of operating efficiently on multi-well pads is driving up day rates across North America, Precision Drilling Corporation president and CEO Kevin Neveu told analysts during the company’s third quarter conference call Thursday.

    October 28, 2022, 10:27 AM MDT

  • ‘Outstanding’ Q3 Sees Tamarack With $177.8M In Adjusted Funds Flow

    Tamarack Valley Energy Ltd. recorded a five per cent year-over-year increase in average daily production during the three-month span ending Sept. 30, 2022.

    October 28, 2022, 11 AM MDT

  • DOB Land Sale Analysis: Elmworth, Bolloque Parcels Highlight Alberta’s Oct. 19 Sale

    The province sold 27,979.60 hectares of P&NG leases and licences in the Oct. 19 land sale bringing in $12.05 million. Additionally, 7,680 hectares of oilsands leases sold for $1.31 million. This brings the total cumulative bonus paid to-date in Alberta to $392.9 million.

    October 24, 2022, 6:49 AM MDT

  • Tamarack Valley Closes Deltastream Deal

    Tamarack Valley Energy Ltd. has successfully closed the previously announced acquisition of Deltastream Energy Corporation, a privately held pure-play Clearwater oil producer.

    October 13, 2022, 8:56 AM MDT

  • Topaz Closes Clearwater Royalty Acquisition

    Topaz Energy Corp. has completed the acquisition of a newly-created five per cent gross overriding royalty interest on Deltastream Energy Corporation's entire Clearwater acreage in Alberta, for total cash consideration of $265.3 million, before customary closing adjustments.

    October 3, 2022, 6:30 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

  • Tamarack Valley Acquiring Deltastream Energy

    Tamarack Valley Energy Ltd. has entered into a definitive agreement to acquire Deltastream Energy Corporation, a privately held pure-play Clearwater oil producer, for total net consideration of $1.425 billion.

    September 12, 2022, 5:23 AM MDT

  • Topaz In Clearwater Royalty Acquisition

    Topaz Energy Corp. has entered into definitive agreements with Deltastream Energy Corporation for the purchase of a newly created five per cent gross overriding royalty on all current and future oil production from Deltastream's entire Clearwater acreage in Alberta for total cash consideration of $265.3 million.

    September 12, 2022, 6:17 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

  • Rubellite Plans $24-$26 Million Second-Half Program

    During the second half of 2022, Rubellite Energy Inc. plans to spend approximately $24 to $26 million to continue its two-rig drilling program into the fourth quarter of 2022 to drill, complete, equip and tie-in 20 (17.2 net) multi-lateral horizontal wells planned in its three core operating areas at Ukalta, Figure Lake and Marten Hills.

    August 10, 2022, 3:26 PM MDT

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