Heavy near month oil prices continued to rise while the differential to WTI further narrowed in March, reflecting Alberta production curtailments designed to reduce the glut of oil in storage.
April 2, 2019, 7:42 AM MDT
April 2, 2019, 7:50 AM MDT
March 27, 2019, 9:40 AM MDT
March 27, 2019, 3:53 AM MDT
March 27, 2019, 7:38 AM MDT
March 20, 2019, 10:12 AM MDT
Any notable increase in pipeline or rail capacity would need to come from new major infrastructure projects as current pipeline capacity is fully utilized and rail infrastructure is operating at or near capacity, says the National Energy Board (NEB).
March 18, 2019, 7:26 AM MDT
March 15, 2019, 10:32 AM MDT
March 14, 2019, 9:13 AM MDT
March 13, 2019, 10:02 AM MDT
As reported by the DOB on Monday, the outlook for Canadian oil production has “significantly deteriorated” and the longer-term outlook looks “more precarious,” the International Energy Agency (IEA) reported in its latest crude oil forecast report.
March 12, 2019, 9:55 AM MDT
March 12, 2019, 7:59 AM MDT
The one-year delay of Enbridge Inc.’s Line 3 replacement project could slow Canada’s ability to grow market share as a feedstock for the massive U.S. Gulf Coast refining cluster.
March 11, 2019, 7:20 AM MDT
The outlook for Canadian oil production has “significantly deteriorated” and the longer-term outlook looks “more precarious,” the International Energy Agency (IEA) says in its latest crude oil forecast report released this morning.
March 11, 2019, 10:10 AM MDT
March 11, 2019, 8:34 AM MDT
In 2018, total crude oil exports from Canada reached 3.6 million bbls/d an increase of 8.2 per cent from 2017.
March 8, 2019, 8:49 AM MST
Canadian Natural Resources Limited remains a staunch supporter of the Alberta government’s mandatory curtailment initiative, saying it has had the desired impact of helping to narrow differentials from the all-time highs witnessed late last year.
March 7, 2019, 11:16 AM MST
Pengrowth Energy Corporation’s average daily production for the fourth quarter increased 11 per cent to 24,104 boe/d compared with 21,807 boe/d in the third quarter of 2018 primarily as a result of infill wells coming on-line at Lindbergh and additional production from Groundbirch that was brought back onstream when gas prices improved.
March 6, 2019, 10:52 AM MST
Baytex Energy Corp. is currently transporting about 11,000 bbls/d or 40 per cent of its total heavy oil production by rail and would like to increase that to about 50 per cent, the company’s chief executive said today.
March 6, 2019, 11:39 AM MST
Baytex Energy Corp. president and CEO Ed LaFehr said that 2018 was a “defining year” for the company as the merger with Raging River Exploration Inc. repositioned it as a high netback light oil company with a stronger balance sheet.
March 6, 2019, 11:42 AM MST
The National Energy Board (NEB) is predicting that Canadian crude oil production will decrease this year for the first time since 2009.
March 6, 2019, 7:33 AM MST
Based on its current discussions with customers, Gibson Energy Ltd. remains confident of contracting 500,000 bbls to one million bbls of tankage per year at Hardisty, the company’s chief executive said today.
March 5, 2019, 10:39 AM MST
The Net Energy Inc. differential between West Texas Intermediate (WTI) and Western Canada Select (WCS) widened about 20 per cent in February to average US$11.95, up from $9.99 in January.
March 4, 2019, 10:16 AM MST
The Alberta government is increasing production in April by 25,000 to a total of about 3.66 million bbls/d, an overall increase of 100,000 bbls/d from the January limit.
March 1, 2019, 3:28 AM MST
Upon review of the curtailment consolidation/transfer process, the Government of Alberta has decided to amend the curtailment rules to extend the deadline in which operators can submit requests to transfer production volumes in order to support a post-production month true up.
March 1, 2019, 3:36 AM MST