At Alberta’s March 6 land sale, McMullen Clearwater parcels brought in 75 per cent of the total bonus paid.
March 11, 2024, 9:27 AM MDT
Five months after closing its $699 million acquisition of Repsol Canada’s Deep Basin assets, Peyto Exploration & Development Corp. is busy drilling across the 455,000 net acres acquired in the deal, company president and chief executive officer JP Lachance told analysts at its 2023 fourth quarter and year-end conference call.
March 11, 2024, 9:49 AM MDT
Increased well productivity, combined with gas market diversification, helped Tourmaline Oil Corp. deliver net earnings of slightly under $1.74 billion in 2023, despite low gas prices throughout the year.
March 7, 2024, 7:34 AM MST
The Montney formation dominated gas drilling in 2023, representing almost two-thirds of wells drilled.
January 22, 2024, 7:09 AM MST
With natural gas prices down over 40 per cent compared to 2022, Deep Basin operators targeted NGLs and oil inventory in 2023.
January 18, 2024, 6 AM MST
In the Jan. 10, 2024 land sale, the province sold 36,828.44 hectares of P&NG leases and licenses bringing in $19.75 million.
January 15, 2024, 6:34 AM MST
In the Nov. 29, 2023 land sale, the province sold 19,648 hectares of P&NG leases and licenses bringing in $7.65 million.
December 4, 2023, 6 AM MST
For 2024, Spartan Delta Corp.'s board has approved an initial capital budget of $130 million to drill and complete 19.2 net (21 gross) wells, resulting in annualized production of 39,500 boe/d, a seven per cent increase in corporate production versus H2 2023 guidance.
November 29, 2023, 5:29 AM MST
At Alberta’s Nov. 15 land sale, the province sold 26,032 hectares of P&NG leases and licences bringing in $9.32 million. Additionally, there were 320 hectares of oilsands leases sold for a total bonus of $0.64 million. This brings the total cumulative bonus paid to-date for the year in Alberta to $397.30 million.
November 20, 2023, 6 AM MST
A $36 million hedging gain helped Peyto Exploration & Development Corp. report earnings of $57 million in the third quarter of 2023, despite low benchmark natural gas prices.
November 9, 2023, 8:26 AM MST
At Alberta’s Oct. 18 land sale, the province sold 10,182.56 hectares of P&NG leases and licences bringing in $5.57 million. Additionally, there were 4,928 hectares of oilsands leases sold for a total bonus of $10.72 million. This brings the total cumulative bonus paid to-date for the year in Alberta to $377.07 million.
October 23, 2023, 10:16 AM MDT
Tourmaline Oil Corp.’s $1.45-billion takeover of Bonavista Energy Corporation adds over 30,000 boe/d of oil and liquids production, while providing a major boost in reserves and acreage in the Deep Basin.
October 16, 2023, 11:35 AM MDT
Alberta sold 20,860.26 hectares of P&NG leases and licences in the August 23 land sale, bringing in $10.73 million. There were no oilsands parcels on this date. This brings the total cumulative bonus paid to-date for the year in the province to $336.11 million.
August 28, 2023, 8:33 AM MDT
In the July 12 land sale, the province sold 26,016 hectares of P&NG leases and licences bringing in $7.96 million. In addition, 1,152 hectares of oilsands leases sold for $0.29 million. This brings the total cumulative bonus paid to-date for the year in Alberta to $241.38 million.
July 17, 2023, 6 AM MDT
In the June 28, 2023 land sale, the province sold 13,968 hectares of P&NG leases and licenses, bringing in $7.99 million. Additionally, 2,880 hectares of oilsands leases sold for $0.53 million. This brings the total cumulative bonus paid to-date for the year in Alberta to $233.13 million.
July 4, 2023, 6 AM MDT
Peyto Exploration & Development Corp. plans to expand its extended-reach horizontal drilling program in the Deep Basin to new targets in 2023 as the company continues to focus on managing costs and improving well productivity, president and chief executive officer JP Lachance said at its annual meeting last week.
June 19, 2023, 7:53 AM MDT
Perpetual Energy Inc. invested $9.1 million in exploration and development spending in Q1 to drill, complete, equip and tie-in a two (1.0 net) well pad at East Edson, targeting the Wilrich formation, and install related pipeline infrastructure.
May 5, 2023, 12 AM MDT
In the April 5 land sale, the province sold 109,222 hectares of P&NG leases and licences for a total bonus of $25.67 million. In addition, 9,876 hectares of oilsands leases sold for $1.89 million.
April 10, 2023, 9:05 AM MDT
Perpetual Energy Inc.'s board of directors has approved exploration and development capital spending of $25 - $32 million for full year 2023, including $8 to $10 million to be spent in the first quarter to drill two (1.0 net) wells at East Edson and related pipeline infrastructure.
March 3, 2023, 9:31 AM MST
In Alberta’s Jan. 11 land sale, the first sale for 2023, the province sold 51,313.2 hectares of P&NG leases and licenses bringing in $26.74 million. Additionally, 12,672 hectares of oilsands leases sold for $4.85 million. This brings the total cumulative bonus paid to-date for the year in Alberta to $31.59 million.
January 16, 2023, 12 AM MST
After more than 21 years with Peyto Exploration & Development Corp. — including 15 as the company’s top executive — now retired Darren Gee handed over the reins to JP Lachance as 2022 came to a close, confident that the time was right and the succession plan had been ideally executed for the transition to be successful.
January 9, 2023, 6 AM MST
While its official 2023 budget is still being finalized, Peyto Exploration & Development Corp. currently anticipates an organic capital program of $425–$475 million, which will use between four and five drilling rigs throughout the year.
November 10, 2022, 11:35 AM MST
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
The province sold 26,585.65 hectares of P&NG leases and licenses in the Sept. 21 land sale, bringing in $15.79 million. Additionally, 1,024 hectares of oilsands leases sold for $136,000.
September 27, 2022, 12 AM MDT
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
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