Cenovus Energy Inc. has entered into a definitive agreement to sell its Suffield crude oil and natural gas operations in southern Alberta to International Petroleum Corporation for gross cash proceeds of $512 million.
A liquefied natural gas plant proposed for Kitimat is still very much alive, says the CEO of LNG Canada—but senior governments may need to address tax competitiveness before Royal Dutch Shell plc and its three partners can make a final investment decision.
Alberta operators rig released 1,972 wells with oil or bitumen as the objective over the first eight months of 2017, up 117 per cent from a year ago. Meanwhile, producers drilled 755 wells with gas or CBM as an objective, up 84 per cent a year ago.
The future would certainly be bright for Mexico’s oil industry, after years of production decline, if not for politics. After a slow start Mexico’s energy reform is bearing fruit. Interest in the latest oil and gas licensing rounds has jumped significantly from the earlier ones despite continuing low oil prices. Major international oil companies (IOCs) have now won blocks in deepwater Gulf of Mexico, while a substantial new discovery has already been made in its shallow waters.
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