Crescent Point Energy Corp.’s $900-million acquisition of Royal Dutch Shell plc’s Kaybob Duvernay assets in Alberta announced Wednesday provides “an incredible opportunity to enter a premier basin” through a transaction that is immediately accretive, says the company’s top executive.
February 18, 2021, 10:48 AM MST
West Texas Intermediate (WTI) has been hovering around the US$60/bbl-level in recent trading sessions, and projections by some industry analysts and reserve evaluation firms point to a more optimistic short- to medium-term outlook.
February 17, 2021, 6 AM MST
Reserve evaluators such as Sproule Associates Limited, Deloitte, GLJ Ltd. and McDaniel & Associates Consultants Ltd., among other industry watchers, updated their commodity forecasts at year-end 2020 and the largest hikes were for near-term AECO assumptions.
February 16, 2021, 5:35 AM MST
The AECO spot has been above $3/GJ for most of the month of February and has surged this week to settle at $5.60/GJ Feb. 10 as a sustained period of bitterly cold weather has seen demand spike.
February 12, 2021, 9:20 AM MST
The combined ARC Resources Ltd./Seven Generations Energy Ltd. will become Canada’s third largest natural gas producer, trailing only Tourmaline Oil Corp. and Canadian Natural Resources Limited.
February 11, 2021, 11:05 AM MST
The recovery of International Petroleum Corporation’s (IPC) Canadian oil production continued during the fourth quarter resulting in full-year net production averaging in excess of 42,000 boe/d.
February 9, 2021, 10:36 AM MST
As U.S. coal and nuclear electricity-generating capacity retires, new capacity additions come largely from natural gas and renewable technologies with renewables accounting for the majority of the projected capacity additions, the Energy Information Administration (EIA) says in its Annual Energy Outlook 2021 (AEO-2021) released Wednesday.
February 3, 2021, 4:43 PM MST
It will “likely take years” for the United States to return to 2019 levels of energy consumption following the impact of COVID-19 on the U.S. economy and global energy sector, according to projections in the U.S. Energy Information Administration’s (EIA) Annual Energy Outlook 2021 (AEO-2021).
February 3, 2021, 4:26 PM MST
Cenovus Energy Inc.’s merger with Husky Energy Inc. is diminishing the blow from U.S. President Joe Biden’s move last week to revoke of the permit needed to build the Keystone XL pipeline, which would have carried some 830,000 bbls/d of Alberta oilsands crude to Nebraska.
January 29, 2021, 12 AM MST
In recent years and for myriad reasons, publicly-traded Canadian oil and gas stocks have increasingly failed to attract the eyes and wallets of investors, but some industry analysts believe that tide may be turning and a rebound for some Toronto Stock Exchange-listed companies may be in the offing.
January 28, 2021, 6 AM MST
Cenovus Energy Inc. says its “disciplined” 2021 capital budget of $2.3–$2.7 billion includes sustaining capital of approximately $2.1 billion to deliver upstream production of approximately 755,000 boe/d and downstream throughput of approximately 525,000 bbls/d.
January 28, 2021, 11:18 AM MST
Cenovus Energy Inc.’s top executive confirmed this morning that the company is well on its way to slashing 20 to 25 per cent of its combined workforce of about 8,600 employees that was on the payroll post-merger with Husky Energy Inc.
January 28, 2021, 11:41 AM MST
Data compiled by Evaluate Energy for this week’s guidance report shows that a basket of Canadian-based companies that have announced 2021 spending plans will have a combined $1.66-billion boost across the 25 companies, representing an increase in 2021 of 13 per cent over currently reported 2020 guidance for the same companies.
January 12, 2021, 10:34 AM MST
The $900 million stock and debt deal between Whitecap Resources Inc. and TORC Oil & Gas Ltd. announced Tuesday will give the combined entity the size and scale to navigate volatile industry conditions and thrive moving forward, says the top executive of the merged company.
December 8, 2020, 5:26 PM MST
A new report by Sproule that takes an initial look at United States’ president-elect Joe Biden’s potential energy policies says that from a Canadian perspective his administration’s handling of the Keystone XL pipeline will be front and centre in the coming months.
November 26, 2020, 9:22 AM MST
Although negatively affected in recent months because of the pandemic and reduced demand as oilsands producers curbed output, condensate will continue to be a valued commodity and should see steadily increasing demand, output and pricing going forward.
November 19, 2020, 6 AM MST
Despite an expected eventual uptick in U.S. Gulf Coast demand for Canadian heavy oil, record western Canadian crude-by-rail volumes attained in February are unlikely to be matched again as COVID-19 demand destruction continues to weigh and pipeline egress solutions slowly inch forward.
November 18, 2020, 6 AM MST
U.S. Gulf Coast refineries have made significant investments in technology that processes heavy crude in recent decades, and with the availability of heavy crude oil from other sources like Venezuela and Mexico declining those refineries will require larger volumes from Canada.
November 17, 2020, 6 AM MST
Peyto Exploration & Development Corp. says the recent spate of merger and acquisition (M&A) activity in Western Canada and elsewhere in North America doesn’t come as a surprise given the prolonged weak industry conditions.
November 12, 2020, 1:59 PM MST
While specifics of its 2021 budget are not yet finalized, Peyto Exploration & Development Corp.’s president and CEO says the company is currently considering a 2021 capital program of $300-$350 million which would be funded entirely from free cash flow.
November 12, 2020, 10:47 AM MST
Peyto Exploration & Development Corp. increased drilling activity in the third quarter with four drilling rigs active across the company’s Deep Basin core areas.
November 12, 2020, 11:12 AM MST
While there have been periods in recent years where experts predicted a wave of merger and acquisition activity would take hold because of volatile industry conditions, it’s rarely played out that way in reality.
November 10, 2020, 8:53 AM MST
Given the recent surge in North American merger and acquisition (M&A) activity including the blockbuster merger between Cenovus Energy Inc. and Husky Energy Inc., Canadian Natural Resource Limited’s top official believes it’s a trend that’s set to continue.
November 5, 2020, 11:47 AM MST
Despite the effects of COVID-19-related market disruption and mandatory production curtailments Canadian Natural Resources Limited achieved quarterly production volumes of 1.111 million boe/d in Q3, up from 1.176 boe/d a year earlier.
November 5, 2020, 10:46 AM MST
Gibson Energy Inc. doesn’t expect any fallout from the Cenovus Energy Inc.-Husky Energy Inc. merger on its business prospects at its main terminal at Hardisty.
November 3, 2020, 10:24 AM MST