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Cardium, Viking E&P Increases 2017 Budget 20% to $180 Million
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Penn West has approved a 2017 total capital budget of $180 million, a +20% increase over its original 2017 capex of $150 million.
2017 Capital Budget DetailsDetails on 2017 plans are as follows:
Build Cardium Waterflood PlatformFocus on integrated waterflood development in Pembina and Willesden Green, combining new horizontal producers with simultaneous injection drilling to support reserve development and arrest base decline. Plan contains a 55 well program, including 45 vertical injection wells to provide pressure support for 2015 & 2016 horizontal producers, and drill new horizontal producers in the second half of 2017.
Manufacture Cold Flow in Peace RiverIncrease the development pace in the Peace River area with a program of 24 producing wells. The Company is currently carried…
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More Capital Expenditure - 2017 News
Legacy Reserves Spends 1250% More YOY; Expects Oil Output to Grow 46.6% in 2018
Legacy Reserves reported its Q3 results and discussed its preliminary 2018 production and capital plans. Highlights include: Reported average daily production of 45,891 boe/d, an increase of about…
Gear Spends $10.5MM in Q3, Up 49.5% YoY
Gear Energy reported its Q3 results. Highlights include: Capital expenditures were $10.5 million in Q3, an increase of 49.5% from capital expenditures of $7.03 million in Q3 2016…
Cenovous Chops $100MM from 2017 Capex After Q3 Loss
Cenovus reported its Q3 2017 results. Highlights: Increased third quarter cash from operating activities and adjusted funds flow by 91% and 133% respectively, compared with the same period…
Kelt Expects 86.2% CapEx Growth from 2017 to 2018
[Summar: Kelt Exploration reported its Q3 results where it also discussed preliminary plans for 2018. Highlights include: Production for Q3 was 22,510 boe/d and expects to exit 2017…
Murphy Increases 2017 Capex by $50MM; Brought Online 27 Eagle Ford Wells
[Summary: Murphy Oil released its Q3 results and highlights include: North American on shore production was 86 mboe/d Increased its FY 2017 capex guidance $50 million to $940…
Canada News
Western Canada Upstream M&A: Q1 2026 Transaction Report
Western Canadian M&A activity in Q1 2026 was characterized by a 87% decrease in total deal value compared to Q1 2025, totaling $0.8 billion C$. However, transaction volume…
Canadan E&P 2026 Program Calls for 448 Net Wells, Up 24% vs. 2025 Plan
Canadian Natural Resources outlined a 2026 operating capital budget of approximately $6.3 billion (total capital budget $6,425 million, including $125 million for carbon capture) targeting 1,590–1,650 MBOE/d of…
EIA’s “Glut” Calls: The 2025 Surplus Claim — and How 2021–2024 Forecasts Actually Held Up
The “~2.2 MMb/d glut in 2025” framing traces to the EIA’s Short-Term Energy Outlook (STEO), December 2025. EIA doesn’t usually write “glut” in the tables—what they publish is…
Whitecap Details 2026 Duvernay & Montney Program
Whitecap Resources reported strong third quarter 2025 operating and financial results, marking its first full quarter following the strategic combination with Veren that closed on May 12, 2025.…
ARC Resources: Lower 2026 Capex, Higher Volumes
ARC Resources used its third quarter update to reinforce a familiar message to Canadian E&P executives: disciplined capital, structurally better market access, and a growing shareholder return program…