While crude oil prices continued to gain ground in October, natural gas remained in the doldrums with AECO spot gas fetching an average of 92 cents per gigajoule — the second consecutive month of prices of under $1 a gigajoule.
Canadian Natural Resources Limited has increased 2017 capital expenditure plans and spending is now targeted to be approximately $4.9 billion, up from the previous $3.9 billion announced in its Q2 results.
Cenovus Energy Inc. is in the final stages of identifying “non-core” pieces of the Deep Basin asset package acquired from ConocoPhillips earlier this year to sell in order for it to reach the $4 billion to $5 billion target set to deleverage its balance sheet by the end of the year.
Seven Generations Energy Ltd. was able to lower drilling and completion costs in Q3 2017 when compared to the second quarter of this year, with improved water sourcing logistics and a deliberate move to work with fewer and more efficient business partners driving completions efficiencies.
Following the close of its Keystone and Keystone XL open season Oct. 26, 2017, TransCanada Corporation will spend the next two months working through credit documentation and addressing any bid conditions that may arise, says a company spokesperson.
TransCanada Corporation’s Canadian Mainline has begun shipping additional Western Canada Sedimentary Basin (WCSB) natural gas to markets in Eastern Canada and the United States as part of its Long-Term Fixed Price (LTFP) service.
Despite production in its key U.S. play in the Eagle Ford having been affected by Hurricane Harvey, as well as having been hurt by a stronger Canadian dollar, Baytex Energy Corp. recorded funds from operations for the third quarter of 2017 that was stronger than in the same period last year.
The premier of the Northwest Territories is calling for an urgent national debate about the effect of federal government policies, including an indefinite moratorium on new oil and gas exploration licences in the Arctic offshore, on the economic future of the territories.
Toscana Energy Income Corporation has entered into a purchase and sale agreement to sell 13 sections of undeveloped land in northern Alberta to a private company for total cash consideration of $1.6 million subject to normal industry conditions.
Pulse Oil Corp. has completed its two transactions previously reported on Oct. 16 to consolidate its interests in the Bigoray area of Alberta, resulting in 100 per cent control of Pulse's Bigoray operations.
Jericho Oil Corporation announced that its STACK joint venture has closed the acquisition of an additional 76 acres (100 per cent held-by-production) in the oil window of the Anadarko Basin STACK play in Oklahoma contiguous to its current position.
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