The ability to quickly pivot amidst fast-changing industry and societal conditions was one of the main lessons learned during the COVID- 19 pandemic by the natural resources sector, attendees of last week’s virtual 19th Annual B.C. Natural Resources Forum heard.
January 24, 2022, 12 AM MST
Western Canadian natural gas prices should remain strong this year and could reach levels not seen in more than a decade, says Martin King, senior analyst with RBN Energy, LLC.
January 20, 2022, 12 AM MST
Benchmark North American and global crude prices are expected to remain strong this year as supply and demand dynamics continue to line-up.
January 19, 2022, 6 AM MST
The Western Canadian Select (WCS) differential to West Texas Intermediate (WTI) should average in the $12-$13 range this year as improved egress and strong demand from U.S. Gulf Coast refiners sets the stage for Canadian heavy producers, says Martin King, senior analyst with RBN Energy, LLC.
January 19, 2022, 12 AM MST
Shell Canada Limited has a comprehensive and ambitious strategy to get its operations to net zero by 2050 and continues to make progress in achieving its goal in all facets of its integrated business model, says Susannah Pierce, the company’s president and country chair.
January 19, 2022, 10:26 AM MST
Privately-held B-32 Exploration Ltd. says it has reached a “significant milestone” with the closing of a non-brokered financing of $10.75 million with additional closings expected later in January.
January 14, 2022, 8 AM MST
As the new CEO and commissioner at the BC Oil and Gas Commission (OGC), Michelle Carr says one of her top priorities early in her tenure has been a focus on the complex negotiations resulting from the recent B.C. Supreme Court decision concerning the Blueberry River First Nations and approvals for forestry and resource development.
January 13, 2022, 7:14 AM MST
Tamarack Valley Energy Ltd. has set its 2022 capital budget at $250–$270 million, a spending level designed to achieve significant free funds flow and generate annual production of 45,000–46,000 boe/d.
January 13, 2022, 10:39 AM MST
Tamarack Valley Energy Ltd. says its updated five-year plan is underpinned by significant free cash flow generation and modest but sustainable annual production growth.
January 13, 2022, 10:50 AM MST
Given a strong commodity price outlook and an expected continued rebound in demand, Canadian Natural Resources Limited is targeting total capital expenditures of approximately $4.3 billion in 2022, an increase from estimated spending of $3.48 billion last year.
January 11, 2022, 11:21 AM MST
Cenovus Energy Inc. has applied to the Alberta Energy Regulatory (AER) to expand portions of its Foster Creek Thermal Project (FCTP).
January 11, 2022, 5:50 AM MST
Calling it a “good news story,” Dale Nally, Alberta’s associate minister of natural gas, says the western Canadian natural gas sector will play a “prominent role” in evolving energy markets on the path to net zero by 2050, and its importance in baseload electricity generation cannot be underestimated.
December 16, 2021, 6 AM MST
As part of its goals set out in its new ESG 2021 report, AltaGas Ltd. says a strong focus of its continued emissions reduction efforts will focus on its Harmattan Gas Processing Complex near Sundre.
December 16, 2021, 12 AM MST
AltaGas Ltd. says the road ahead for its midstream business will focus on the continued optimization of its existing assets in an effort to increase its LPG export capabilities, the company’s investor day heard Wednesday.
December 15, 2021, 2:10 PM MST
Cenovus Energy Inc.’s 2022 capital budget of between $2.6-$3 billion reflects a disciplined approach that is designed to improve shareholder returns while maintaining output in the 800,000 boe/d range, president and CEO Alex Pourbaix told the company’s investor day event this morning.
December 8, 2021, 11:22 AM MST
Cenovus Energy Inc.’s updated five-year plan released this morning signals the continuing evolution of the company in its quest to reduce debt, return capital to shareholders while maintaining and improving operational excellence and ESG performance, says the company’s top executive.
December 8, 2021, 11:29 AM MST
As part of its updated environmental, social and governance (ESG) plan and targets, Cenovus Energy Inc. is looking to further enhance and grow its Indigenous reconciliation efforts.
December 8, 2021, 3:59 PM MST
Enbridge Inc. theoretically could appeal the recent Canada Energy Regulator (CER) Mainline decision, says Al Monaco, president and chief executive officer, but the company’s overall judgement is to accept the CER decision, moving ahead with one of two options — a competitive tolling settlement (CTS) or a cost-of-service.
December 7, 2021, 9:59 AM MST
Enbridge Inc. says the global and North American crude market fundamentals continue to look promising, and given its expansive liquids infrastructure system, the company remains poised to continue to play a “big role” in the value chain as continental exports grow in the coming years.
December 7, 2021, 3:37 PM MST
TC Energy Corporation continues to build out and refine its Canadian natural gas pipelines segment in an effort to help position the Western Canadian Sedimentary Basin (WCSB) “competitively in markets across the continent,” says the executive who heads up that business.
December 2, 2021, 12 AM MST
With the expectation that natural gas will play an increasing role in the ongoing energy transition, TC Energy Corporation will direct the vast majority of its $29 billion capital program over the next five years to its natural gas pipeline business, the company’s top executive told an investor day event this morning.
December 1, 2021, 11:24 AM MST
MEG Energy Corp. has set its 2022 capital budget at $375 million, a $40 million increase from planned spending of $335 million this year.
November 30, 2021, 9:16 AM MST
Although they have narrowed somewhat so far this week, Western Canadian Select (WCS) differentials have recently reached some of their widest levels since the pandemic began due to stronger Canadian production, heavier OPEC barrels returning to the market and high natural gas prices pushing up the cost associated with heavy crudes, said Rory Johnston, managing director and market economist at Toronto-based Price Street Inc.
November 18, 2021, 8:22 AM MST
While Baytex Energy Corp. has some higher-profile plays within its portfolio like the emerging Clearwater, its Viking asset base in west-central Saskatchewan continues to chug along in a consistent Old Faithful-type manner, producing high-quality, high-netback light oil.
November 16, 2021, 6 AM MST
Saturn Oil & Gas Inc. achieved strong operational and financial performance in Q3 with the reporting of the first full quarter following the acquisition earlier this year of assets in the Oxbow area of southeast Saskatchewan.
November 16, 2021, 11:55 AM MST