How effective industry and governments are in partnering and collaborating with Indigenous peoples around the world on new energy projects will play a major role in how the energy transition takes shape and the time it takes to reach carbon neutrality, an Australian Indigenous representative told World Petroleum Congress delegates this week.
September 20, 2023, 8:31 AM MDT
A rapid transition away from oil and gas will damage the economies of Canada’s major oil producing provinces, making it difficult to take advantage of new energy opportunities, three provincial energy ministers told an audience at the World Petroleum Congress Monday.
September 19, 2023, 8:34 AM MDT
Murphy Oil Corporation and Chevron Canada were early entrants into the Kaybob Duvernay, with both companies far up the learning curve in the play.
September 18, 2023, 12 AM MDT
Both Baytex Energy Corp. and Whitecap Resources Inc. are early in Duvernay development but are seeing promising results with appraisal wells drilled on their acreage.
September 15, 2023, 12 AM MDT
Paramount Resources Ltd. has a long history in the Kaybob area.
September 14, 2023, 6 AM MDT
Oil and gas operators should hit the federal government’s near-term target of reducing methane emissions 40 per cent below 2012 levels by 2025, but more technology investment is needed to reach its more ambitious goal of cutting emissions to 75 per cent below 2012 levels by 2030, Petroleum Technology Alliance Canada (PTAC) president and chief executive officer Soheil Asgarpour said at the organization’s annual general meeting on Wednesday.
September 14, 2023, 9:15 AM MDT
A flurry of M&A activity the last three years has shifted the landscape in the Duvernay shale play in west-central Alberta, with new technical teams re-evaluating the resource and building on past efforts to create updated development schemes to economically recover the massive resource in place.
September 13, 2023, 9:26 AM MDT
Provincial and territorial governments want the federal government to fix the project approval process for resource projects and help speed construction of the strategic infrastructure needed to efficiently develop and move Canada’s wealth of resources to global markets, Alberta Premier Danielle Smith said at the Canadian Energy Executive Association annual business forum in Banff last week.
September 1, 2023, 8:13 AM MDT
Alberta’s oilsands operators made significant progress lowering emission intensity in the last decade but reaching their net zero targets by 2050 is going to require decarbonization of upstream operations, MEG Energy Corp. president and chief executive officer Derek Evans said at the Canadian Energy Executive Association’s annual business forum in Banff.
August 31, 2023, 12 AM MDT
The Alberta government has launched a multi-department effort to both protect the environment and speed up the energy development process in the province, Premier Danielle Smith said at the Canadian Energy Executive Association’s (CEEA) annual business conference in Banff.
August 29, 2023, 8:59 AM MDT
The war in Ukraine and energy supply challenges it created has large institutional investors shifting capital back to oil and gas companies as they recognize hydrocarbons will be part of the energy mix long into the future, industry leaders told the Canadian Energy Executives Association’s (CEEA) annual business forum in Banff last week.
August 29, 2023, 10:48 AM MDT
B.C. has seen a rapid increase in natural gas liquids (NGLs) and condensate production in the last five years, with average annual production jumping 111 per cent from 2017-2022 as Montney operators targeted more liquids-rich areas.
August 24, 2023, 12 AM MDT
While some U.S. unconventional oil basins may be in their later innings, with many operators gradually exhausting their existing Tier 1 drilling inventories, that doesn’t mean there aren’t decades of future growth left in these plays, Devon Energy Corporation president and chief executive officer Rick Muncrief told analysts during the company’s second quarter 2023 conference call.
August 24, 2023, 12 AM MDT
Oil and gas operators are putting capital back into the U.S. Rockies region to consolidate assets in existing developments and to expand into new areas.
August 23, 2023, 12 AM MDT
Permian operators are drilling and completing longer laterals than ever before, while reporting continued productivity improvements on a well-by-well and asset wide basis.
August 22, 2023, 12 AM MDT
Almost a decade of work understanding the intricacies of shale reservoirs is paying dividends for Occidental Petroleum Corporation in improved recoveries, higher well productivity, and lower costs, company president and chief executive officer Vicki Hollub told analysts on the company’s second quarter 2023 conference call.
August 21, 2023, 12 AM MDT
Declining drilling activity in key shale plays, combined with an expected demand jump from power generation and LNG export growth, has large independent U.S. gas producers predicting improved markets heading into late 2023 and 2024, company executives said during second quarter 2023 conference calls.
August 18, 2023, 12 AM MDT
After 18 months of rapid oilfield service cost inflation, costs have begun retreating in unconventional basins across the U.S., operators reported in the second quarter 2023 conference calls.
August 17, 2023, 5:09 AM MDT
The ability to store natural gas to capture both short-term opportunities driven by price volatility and opportunities from traditional seasonal demand shifts is becoming a valuable asset as the pace of North American gas production has outstripped storage development, Tidewater Midstream and Infrastructure Ltd. interim chief executive officer Rob Colcleugh told analysts during the company’s second quarter 2023 conference call.
August 15, 2023, 10:10 AM MDT
Canadian conventional oil production could jump significantly in the next two decades — or begin falling off a cliff — depending on how successful the world is in meeting its net zero targets, according to the recent Canada Energy Regulator (CER) Canada’s Energy Futures 2023 report.
August 14, 2023, 6 AM MDT
North American drilling contractor day rates have stabilized, with contractors able to capture any cost inflation in their pricing and maintain operating margins, Total Energy Services Inc. president and chief executive officer Daniel Halyk told analysts during the company’s second quarter 2023 conference call.
August 14, 2023, 8:53 AM MDT
Canada’s top oil and gas operators saw wild swings in commodity prices over the last five years.
August 11, 2023, 9:15 AM MDT
Peyto Exploration & Development Corp. is adding to its drilling inventory through successfully targeting underdeveloped channels in the Falher formation across its land base, Riley Frame, VP of engineering, told analysts and shareholders at the company’s second quarter 2023 conference call.
August 10, 2023, 10:27 AM MDT
Large scale infrastructure investments are relieving the transportation bottlenecks that have curtailed growth in Canada’s oil and gas sector for the last decade, providing opportunity for operators to grow production out of western Canada.
August 10, 2023, 7:52 AM MDT
Canada’s publicly traded oil and gas operators reported major increases in revenues, operating cash flows, and free cash flows in 2022 as global supply concerns drove commodity prices skyward.
August 9, 2023, 9:05 AM MDT