Upstream

Hedging Restructuring, Further Spending Cuts In Store, Says Ovintiv

Ovintiv Inc. says it plans to further reduce its second quarter investments by an additional US$200 million, bringing total capital reductions in the second quarter to $500 million.

April 3, 2020, 12 AM MDT


Athabasca Suspends Hangingstone SAGD Operation

Due to the significant decline in oil prices combined with the economic uncertainty associated to the ongoing COVID crisis, Athabasca Oil Corporation has decided to suspend the Hangingstone SAGD operation.

April 2, 2020, 4:23 PM MDT


Western Canadian Producers Slow To Shut-In Production

While there’s been a deluge of exploration and production (E&P) companies announcing often massive cuts to capital spending plans as prices languish and global supply soars, western Canadian producers have been slow on the draw when it comes to publicly disclosing production shut-ins, analysts say.

April 2, 2020, 11:05 AM MDT


Obsidian Delisted From NYSE; U.S. Trading To Start On OTCQB

Obsidian Energy Ltd.  received notification from the New York Stock Exchange (NYSE) that the company has not regained compliance with the NYSE's continued listing standard regarding share price.

April 2, 2020, 10:31 AM MDT


Cost Reductions Help Strengthen Obsidian Funds Flow

Obsidian Energy Ltd. reported stronger funds flow from operations of $54 million (2018-negative $2 million) in the 2019 fourth quarter and $160 million (2018-$92 million) for the year despite lower production, driven in part by the company’s focus on cost reduction and execution of its drilling program.

April 2, 2020, 10:15 AM MDT


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