Interesting News
- Hemisphere planning an extensive drilling program MEDICINE HAT area
- ARC Resources Ltd. working with Bluestar Engineering compressor upgrade 07-18-067-24W5
- TAQA North Ltd. working with Tridyne Projects large compressor upgrade 01-04-044-11W5
- Devon Canada large bitumen battery 09-21-063-06W4
- Encana 18 new well permit Sunrise BC
- Whitecap approved for 3 – 3 well pads WAPITI field
- Birchcliff adding 4 new wells to existing pad 02-02-078-11W6
- Canamax adding 2 new wells to existing pad 09-06-085-24W5
- Cona 3 well pad 11-27-035-28W3
First Facility License since Dec 1 2018 (or greater)
- International Petroleum Corp._Licence Amendment_Injection/Production Satellite_SK_12-04-056-27W3
First Well License since Dec 1 2018 (or greater)
- Leucrotta Exploration Inc_BC_DLS: B 16-05-083-16
First Wells Drilled Since Dec 1 2018 (or greater)
- None
Rigs First Time Drilling Since Apr 1 2019
- Encana Corporation_Trinidad 55_BC_DLS: C 02-35-077-14
- Black Swan Energy Ltd_Ensign 437_BC_NTS: C D-056-C/094-H-04
- Cenovus Energy Inc._Precision 199_AB_02-13-070-04W4
- Bonavista Energy Corporation_Savanna 631_AB_13-26-045-02W5
- ORLEN Upstream Canada Ltd._Nabors 70_AB_07-10-063-06W6
- Enhance Energy Inc_Excalibur 14_AB_15-35-039-24W4
- Encana Corporation_Horizon 10_AB_10-35-063-22W5
Other News
- Husky 10,000 bbls/day Dee Valley Lloyd thermal project progressing ahead of schedule, with first oil expected in Q4 2019. Spruce Lake Central and Spruce Lake North Lloyd thermal projects, representing an aggregate of 20,000 bbls/day, are advancing towards first production in 2020. Pikes Peak Lloyd thermal project was shut in in February 2019 and will now be abandoned, after producing 78 million barrels over 36 years of operations.
- Vermillion Canadian production averaged 61,360 boe/d in Q1 2019, an increase of 1% from the prior quarter, primarily driven by new Canadian well completions. Front-loaded capital program which seeks to finish as much Canadian drilling and tie-in activity ahead of break-up as possible, and this year was no exception, with nearly 40% of our annual capital investment for Exploration and Development (“E&D”) activities executed in Q1 2019.
- Clearview will continue to enhance operational efficiencies and evaluate strategic acquisitions. Field capital will be limited to the Company’s existing inventory of workovers and optimization projects. Spending is anticipated to be less than cash flow with the balance being applied to debt repayment to enhance the Company’s financial flexibility.
- Pieridae Energy 2019 average daily production is expected to be in the range of 16,000 – 18,000 BOE/d. Production guidance excludes potential acquisitions. Pieridae’s 2019 upstream capital program will focus on necessary maintenance, equipping, tie-in and low cost, high-return optimization initiatives at a cost of approximately $8 – 10 million. Depending on funding initiatives, Pieridae would expect to incur up to $45 million in Goldboro development activities.
- Hemisphere remains financially flexible for continued growth in 2019 with its planned expenditures of approximately $15 million being funded by cashflow and additional debt within the currently approved limit of its term loan. The Company is planning an extensive drilling program through the summer of 2019 aimed specifically at increasing production and cash flow, while proving up significant additional unbooked reserves.
- Canadian Spirit raised a total of $1.4 million of equity by way of a rights offering in the fourth quarter of 2018.
