With the arrival of the new year, producers across Canada have begun putting new capital to work. In order to get a better idea of what the year ahead holds for the Canadian oil patch, we’ve scoured guidance announcements for the companies within our dataset of over 30 public companies. The following data and charts are part of our BOE Intel offering that is coming soon . For more information, click the link. While a handful of companies have not published updated budgets and guidance figures, the data we have seen thus far has helped us identify a number of key themes for the year ahead: While capital discipline remains key, production set to rise in 2023 Coming off a year of high oil prices, Canadian producers have paid down enormous levels of debt and generally are in the best financial position that they have been in in years. As a result, the median company in our dataset is guiding to production growth of ~9%, aided in some cases by full year production from acquisitions made in 2022. Capex expected to show modest 4.5% growth in 2023 Our dataset, which does not include all of the large caps yet, […]
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