While the historically-wide differentials witnessed recently between Western Canada Select (WCS) and West Texas Intermediate (WTI) have begun to narrow in recent days, tanking benchmark crude prices are putting further hurt on Canadian producers.
November 14, 2018, 6:37 AM MST
November 12, 2018, 10:25 AM MST
Canadian heavy oil producers shutting in production are making a dent in the basin’s oversupply. Approximately 122,000 bbls/d will be taken off line in November and December, according to DOB estimates. This compares to the total oversupply of 200,000 bbls/d, as reported by ARC Financial.
November 9, 2018, 6:43 AM MST
In response to weak prices and vast differentials for Canadian heavy crude, Devon Energy Corporation has curtailed output from its Jackfish SAGD complex by about 25,000 bbls/d, company officials said this morning.
November 7, 2018, 11:24 AM MST
Gibson Energy Inc. is taking advantage of market opportunities while being realistic about what is good for the industry.
November 7, 2018, 10:48 AM MST
Development of the East Duvernay shale light oil has taken an important step forward with two new light oil discovery wells in the Pembina area in central Alberta, says Baytex Energy Corp.
November 5, 2018, 10:09 AM MST
Crew Energy Inc.’s third quarter volumes of 23,680 boe/d were ahead of the midpoint of the company’s quarterly guidance and were two per cent higher than the same period in 2017, reflecting volumes from new wells completed late in the second quarter.
November 5, 2018, 9:23 AM MST
November 2, 2018, 9:35 AM MDT
November 2, 2018, 9:06 AM MDT
Because of challenges associated with historically wide differentials and lack of egress out of Western Canada, Canadian Natural Resources Limited says it will continue to make “strategic decisions” to reduce drilling activity, delay well completions and shut-in production.
November 1, 2018, 11:20 AM MDT
October 26, 2018, 10:35 AM MDT
There was some little noticed good news for Canadian heavy oil and bitumen producers last week, who have been struggling with record higher differentials between prices for West Texas Intermediate (WTI) oil and Western Canada Select (WCS) heavy crude — and it came, literally, out of left field.
October 22, 2018, 9:47 AM MDT
The heavy oil differential widened against the WTI benchmark in September and has continued to expand in October.
October 3, 2018, 6 AM MDT
October 2, 2018, 3:43 AM MDT
Cenovus Energy Inc. has signed three-year deals with major rail companies to transport approximately 100,000 bbls/d of heavy crude oil from northern Alberta to various destinations on the U.S. Gulf Coast.
September 27, 2018, 3:45 AM MDT
A cold heavy oil play has moved from emerging to commercial in the southwest corner of the Athabasca oilsands region, and now Canada’s largest heavy oil producer is in on the action.
September 24, 2018, 7:49 AM MDT
Production at Lindbergh and at the corporate level is on track, says Pengrowth Energy Corporation, which provided an update on its operations on Monday.
September 11, 2018, 6 AM MDT
Pan Orient Energy Corp. continues to work with joint venture partners to move forward towards potential commercial expansion to 3,200 bbls/d at the Sawn Lake, Alberta steam assisted gravity drainage (SAGD) project.
August 16, 2018, 9:54 AM MDT
BlackPearl Resources Inc. says it will use higher than expected cash flow to add production at its Saskatchewan thermal heavy oil project and increase spending on conventional heavy oil drilling.
August 3, 2018, 10:59 AM MDT
New low-sulphur marine fuel standards could prove to be disastrous for the Canadian oil producing sector, says a new report by the Canadian Energy Research Institute (CERI), creating the need for more upgrading and refining to take place within Alberta.
August 1, 2018, 9:13 AM MDT
Baytex Energy Corp. is doing its part to contribute to record levels of western Canadian crude being shipped to market via rail.
July 31, 2018, 10:54 AM MDT
Crude-by-rail exports, which set a record in April, are expected to continue to rise as coastal refiners facing higher offshore prices look for cheaper crude in Western Canada where pipeline constraints have resulted in price discounts, say those in the industry.
July 16, 2018, 8:57 AM MDT
Chad Harris wants to make it clear: while Serafina Energy Ltd. uses proven thermal SAGD technology, it is not an oilsands company.
July 11, 2018, 7:36 AM MDT
Husky Energy Inc. hopes to begin construction this fall on three new pipelines, including a larger replacement for a pipeline that in 2016 ruptured and spilled heavy oil and diluent into the North Saskatchewan River near Maidstone.
June 15, 2018, 11:33 AM MDT
June 15, 2018, 9:17 AM MDT