As the well count rises in the Clearwater heavy oil play in northern Alberta the long-term potential to increase and then maintain production for decades is becoming more apparent.
March 29, 2023, 6 AM MDT
Saskatchewan’s heavy oilfields surrounding Lloydminster and Kindersley continue seeing incremental production growth as operators bring on new thermal wells, drill multilateral development wells, and expand into new areas.
March 16, 2023, 12 AM MDT
Rubellite Energy Inc. is on track to spend a total of $17 - $20 million in Q1 2023 capital expenditure to drill, complete, equip and tie-in six (6.0 net) multi-lateral development/step-out wells at Figure Lake and the three (2.5 net) multi-lateral exploratory program which has already been completed.
March 10, 2023, 12 AM MST
Headwater Exploration Inc. reported average production of 15,546 boe/d (consisting of 13,536 bbls/d of heavy oil, 11.5 mmcf/d of natural gas and 99 bbls/d of natural gas liquids), an increase of 49 per cent from the fourth quarter of 2021.
March 10, 2023, 12 AM MST
Ensign Energy Services Inc. saw year-over-year “meaningful improvements” both operationally and financially for its fourth quarter 2022 and year-end results.
March 7, 2023, 6 AM MST
Canadian Natural Resources Limited’s top executive says the company is slowly progressing its Clearwater heavy oil play at Smith and continues to learn as it does so.
March 3, 2023, 12 AM MST
Largely driven by its “strategic investment in our robust natural gas assets,” Canadian Natural Resources Limited achieved record annual production of 1.28 million boe/d in 2022, an increase of four per cent from 2021 levels, says company president Tim McKay.
March 2, 2023, 10:37 AM MST
Tamarack Valley Energy Ltd. reported fourth quarter production volumes of 64,344 boe/d and yearly production volumes of 48,283 boe/d in 2022, representing a 59 per cent and 40 per cent increase respectively compared to the same periods in 2021.
March 2, 2023, 6:09 AM MST
In total, 1,057 gross wells were drilled on Freehold Royalties Ltd.’s royalty lands in 2022, a 61 per cent increase versus 2021.
March 2, 2023, 12 AM MST
Baytex Energy Corp.’s US$2.5-billion take-over of Eagle Ford shale developer Ranger Oil Corporation provides the company with a new growth platform and the scale and optionality to shift capital investment to areas with the highest returns, Baytex president and chief executive officer Eric Greager said in a conference call with analysts.
February 28, 2023, 9:06 AM MST
Four months into his tenure as the president and CEO of Baytex Energy Corp., Eric Greager says he’s gotten the lay of the land and developed a strong sense of what the path forward will be for the oil-weighted producer under his leadership.
February 27, 2023, 9:17 AM MST
Baytex Energy Corp.’s newly-minted top executive says an operational highlight for the company “continues to be our Clearwater development” at Peavine.
February 27, 2023, 8:36 AM MST
Baytex Energy Corp.’s president and CEO Eric Greager says 2022 was “an exciting year for Baytex” as the company delivered strong operating results, generated record free cash flow, further strengthened its balance sheet and initiated direct shareholder returns.
February 24, 2023, 10:55 AM MST
In 2022, Obsidian Energy Ltd. undertook the largest development program in several years.
February 23, 2023, 6:43 AM MST
It was another active quarter for third-party operators across PrairieSky Royalty Ltd.’s royalty properties.
February 6, 2023, 2:24 PM MST
Obsidian Energy Ltd. is planning $260–$270 million in capital expenditures for development and exploration/appraisal activities in 2023, plus an additional $26–$28 million in decommissioning expenditures that accelerates its asset retirement obligations.
January 31, 2023, 8:20 AM MST
Obsidian Energy Ltd. reported a substantial increase in its reserve values and volumes for 2022 over 2021, replacing reserves across all categories.
January 31, 2023, 9:11 AM MST
In the Jan. 25 landsale, the province sold 65,892 hectares of P&NG leases and licences bringing in $10.52 million. There was no public offering of Crown oilsands rights this sale. This brings the total cumulative bonus paid to-date for the year in Alberta to $42.11 million.
January 30, 2023, 7:09 AM MST
Rubellite Energy Inc. is on track to achieve its combined Q4 2022 and Q1 2023 capital expenditure guidance of approximately $33.0 to $41.0 million to continue its two-rig drilling program through to the end of the first quarter of 2023.
January 17, 2023, 12 AM MST
The royalty business acts as something of a hedge against inflation, avoiding certain pressures traditional oil and gas companies face when their access to capital becomes tighter, says Marty Staples, president and chief executive officer at Topaz Energy Corp.
January 3, 2023, 6 AM MST
Since the end of the third quarter, Obsidian Energy Ltd. rig released an additional 14.0 wells (13.4 net), including four Cardium wells (4.0 net) in Willesden Green, three Cardium wells (2.9 net) and one vertical Devonian well (0.5 net) in Pembina, and five Bluesky wells (5.0 net) and one Clearwater well (1.0 net) in Peace River.
December 16, 2022, 6:59 AM MST
The Clearwater is one of the premier economic oil plays in North America, thanks to its relatively shallow depths and its low cost of development, deploying open hole multilateral horizontal wells that require zero stimulation.
December 13, 2022, 10 AM MST
Pembina Pipeline Corporation announced 2023 adjusted EBITDA guidance of $3.5 to $3.8 billion and a 2023 capital investment program of $730 million.
December 12, 2022, 7:14 AM MST
Baytex Energy Corp. outlined a 2023 exploration and development expenditures budget of $575–$650 million, which is designed to generate average annual production of 86,000 to 89,000 boe/d.
December 8, 2022, 12 AM MST
“Game-changing” multi-lateral drilling technology is boosting Canadian Natural Resources Limited’s operational performance in its vast conventional heavy oil asset base, attendees of the company’s 2022 Institutional Investor Open House event heard last week.
December 7, 2022, 12 AM MST
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