Increasing gas demand is resulting in a boom in LNG related infrastructure construction, according to a new Evaluate Energy Briefing Note entitled: Linking North American LNG Supply to Asia-Pacific Markets.
November 1, 2023, 9:18 AM MDT
Montney natural gas producers will see higher prices along with the opportunity to meaningfully increase production as new North American LNG export capacity comes onstream the remainder of the decade, according to Jamie Heard, manager, capital markets at Tourmaline Oil Corp.
November 1, 2023, 9:51 AM MDT
SECURE Energy Services Inc. reported increased revenues in the third quarter of 2023, while bringing a new Clearwater oil terminal and an expansion of Montney water disposal infrastructure online to drive future growth.
November 1, 2023, 8:35 AM MDT
Expect more deal making in North American unconventional resource plays in the near term as international oil companies (IOCs) and large cap U.S. operators look to add asset duration and drilling inventory to their portfolios, two E&P company leaders said at the CFA Society Calgary’s 23rd Annual Oil & Gas Forecast Breakfast on Tuesday morning.
October 31, 2023, 1:28 PM MDT
Whitecap Resources Inc. expects to spend over $100 million annually the next three years building infrastructure as it grows Montney and Duvernay production from 70,000 to 110,000 boe/d by the end of 2027, president and chief executive officer Grant Fagerheim said at the company’s third quarter 2023 conference call.
October 27, 2023, 12 AM MDT
Whitecap Resources Inc. is using a variety of techniques including extended reach horizontal wells, multilateral wells, and open hole completions to improve productivity at its light oil assets stretching from southeast Saskatchewan to central Alberta, its East Division vice-president Chris Bullin said at the company’s third quarter 2023 conference call and 2024 budget forecast.
October 27, 2023, 7:48 AM MDT
Whitecap Resources Inc. hit its $1.3 billion debt target in the third quarter of 2023, with the company now promising to deliver 75 per cent of free cash flow to shareholders through its base dividend and share buybacks, the company reported.
October 26, 2023, 8:06 AM MDT
Current energy, climate change and industrial policy will result in peak oil and gas demand by 2030, according to the World Energy Outlook 2023 released by the International Energy Agency (IEA) this morning.
October 24, 2023, 8:26 AM MDT
Montney operators hoping to continue growing upstream production need to rapidly cut greenhouse gas emissions to meet tightening regulatory requirements, while also reducing water use and limiting land disturbances.
October 20, 2023, 6 AM MDT
Higher oil and condensate prices resulted in operators targeting liquids-rich or oil-prone areas of the Montney over the last five years.
October 19, 2023, 6 AM MDT
The potential to grow production and generate short-cycle opportunities to take advantage of commodity price fluctuations has attracted several new operators to the Montney.
October 18, 2023, 6 AM MDT
Mid-sized Montney operators continue finding opportunities to cut costs and improve well productivity, while building Tier 1 drilling inventory to fill processing capacity for the long-term.
October 17, 2023, 6 AM MDT
Tourmaline Oil Corp.’s $1.45-billion takeover of Bonavista Energy Corporation adds over 30,000 boe/d of oil and liquids production, while providing a major boost in reserves and acreage in the Deep Basin.
October 16, 2023, 11:35 AM MDT
In the 18 years since ARC Resources Ltd. drilled the first horizontal, multistage fractured well in the Montney formation over 12,000 tight oil and gas wells have penetrated the massive resource play straddling the Alberta and British Columbia border.
October 16, 2023, 6 AM MDT
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
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