While British Columbia is better known for its natural gas production, oil production has been rising in recent years due mainly to increased condensate production from the liquids-rich natural gas Montney play in northeast B.C., according to National Energy Board (NEB) figures.
Based on a combination of actual and estimated data for 2016, Canada produced an average of 3.847 million bbls per day. Roughly 80 per cent (3.069 million bbls per day), was produced in Alberta, while 778,000 bbls per day was produced in other provinces and territories. In the two most significant non-Alberta oil producing provinces, Saskatchewan and Newfoundland and Labrador, crude oil production in 2016 declined and grew, respectively, reported the National Energy Board (NEB).
In 2011, Imperial Oil Limited’s Cold Lake thermal bitumen project set a production record for the year of an average 160,000 bbls, beating the previous annual record of 154,000 bbls a day set in 2007 (DOB, Jan. 31, 2012).
Mazatlan — Jim Carr, Canada’s Natural Resources Minister, told reporters yesterday, at the tail end of a visit to Mexico to advance trade relations between the two countries, he believes it’s possible the energy sector links between the three countries involved in NAFTA will be spared if the trade deal is reworked.
Having endured the worst of the oil and gas industry downturn, Ensign Energy Services Inc.’s top executive says the company is set to embark upon a new phase as a corporate entity that reflects the ever evolving conditions in the oil and gas sector.
Royal Dutch Shell plc during its fourth quarter webcast on Thursday stated that it had an advantaged position at Fox Creek, along with the Permian, although there were few details about its activity in the Canadian play.
While Royal Dutch Shell plc chief executive officer Ben van Beurden believes the trend of globalization is likely unstoppable, “it’s probably appropriate that societies and business with it sort of reflect on what we are hearing and seeing” from those groups who feel they haven’t been benefiting from globalization.
The Alberta Energy Regulator (AER), following a public hearing last year, has approved licences sought by ShellCanada Limited application for two 6.99 kilometre four-inch sweet natural gas pipelines near Rocky Mountain House in west-central Alberta.
TransGlobe Energy Corporation released a 2017 capital budget of $56.4 million ($35.2 million firm and $21.2 contingent) which includes Egypt $25.8 million firm and $14.4 million contingent and in Canada $9.4 million (C$12.5 million) firm and $6.8 million (C$9 million) contingent.
AltaGas Ltd. has completed its previously announced public offering of 67.8 million subscription receipts on a bought deal basis, at an issue price of $31 per subscription receipt for total gross proceeds of approximately $2.1 billion.
Bellatrix Exploration Ltd. announced an extension of the continued listing and trading of its common shares on the New York Stock Exchange until Bellatrix's annual meeting of shareholders currently planned for May 17, 2017.
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