During the second half of 2023, Perpetual Energy Inc. is planning to participate at its 50 per cent working interest in an East Edson drilling program to drill, complete, equip and tie-in an additional four to six (2.0 to 2.8 net) horizontal wells to fill the West Wolf gas plant in order to optimize production and operating costs, meet transportation commitments and maximize natural gas and NGL sales through next winter.
August 4, 2023, 8:33 AM MDT
Canadian Natural Resources Limited’s Q2 production was negatively affected by a variety of factors including the wildfires in Western Canada, resulting in an average production impact of approximately 24,400 boe/d.
August 3, 2023, 11:09 AM MDT
Canadian Natural Resources Limited says the outlook for western Canadian crude producers remains “constructive” and is set up well going into 2024 as the Trans Mountain expansion project is expected to call for line fill in the coming months.
August 3, 2023, 3:57 PM MDT
International Petroleum Corporation (IPC) achieved a major milestone in the second quarter by signing the engineering, procurement and construction (EPC) contract for the central processing facility of the Blackrod Phase 1 project.
August 2, 2023, 12 AM MDT
Higher refined product margins were among the reasons adjusted EBITDA for marketing at Gibson Energy Inc. grew by $22 million year-over-year to roughly $34 million last quarter, says the company.
August 2, 2023, 12 AM MDT
Obsidian Energy Ltd.’s 2023 guidance is being revised, the company announced in its Q2 results.
August 2, 2023, 6:16 AM MDT
During the first half of 2023, the potential of Obsidian Energy Ltd.’s Walrus acreage was effectively delineated for future large-scale development.
August 2, 2023, 6:32 AM MDT
August 2, 2023, 12 AM MDT
With its new Ranger Oil Corporation acquisition in the Eagle Ford Basin scaling up its operating capacity since June, Baytex Energy Corp. announced production during the second quarter of 2023 of 89,800 boe/d — 86 per cent oil and NGLs.
July 31, 2023, 12 AM MDT
MEG Energy Corp.’s president and CEO says the heavy oil pricing differential likely has widened about as much as it’s going to for the remainder of 2023.
July 28, 2023, 7:26 AM MDT
Cardinal Energy Ltd.’s average production volumes of 21,047 boe/d were negatively impacted by approximately 700 boe/d due to short-term shut-in production associated with forest fires in northern Alberta in the second quarter.
July 28, 2023, 12 AM MDT
Gear Energy Ltd.’s production for the second quarter of 2023 was 5,742 boe/d, a one per cent decrease over the 5,777 boe reported in the second quarter of 2022.
July 27, 2023, 12 AM MDT
Tamarack Valley Energy Ltd. significantly expanded its Clearwater and Charlie Lake infrastructure footprint in the first half of the year, which will help the company reduce its cost structure and enhance free funds flow generation going forward.
July 27, 2023, 11:05 AM MDT
Athabasca Oil Corporation pointed to a mix of factors that should keep Western Canadian Select (WCS) prices in a strong position in the second half of 2023 and into 2024.
July 26, 2023, 3:21 PM MDT
Athabasca Oil Corporation’s Q2 production averaged 34,000 boe/d (93 per cent liquids) consisting of 29,000 bbl/d in Thermal Oil and 5,000 boe/d in Light Oil.
July 26, 2023, 3:43 PM MDT
The recent widening of the West Texas Intermediate (WTI) and Western Canadian Select (WCS) spread in the last few weeks from low US$10 range to around $15 seems to be the result of a somewhat typical supply-demand market response, says Martin King, senior analyst with RBN Energy, LLC.
July 24, 2023, 10:09 AM MDT
Alberta oilsands production is set to expand by as much as 700,000 bbls/d in the next decade, according to the most optimistic of four recently released outlooks for the sector.
July 19, 2023, 12 AM MDT
PrairieSky Royalty Ltd. reported record quarterly average oil royalty production in the second quarter with most of the growth focused on three oil bearing plays.
July 18, 2023, 8:45 AM MDT
Canadian oil supply fell by 210,000 bbls/d to 5.3 million bbls/d in May, according to the International Energy Agency (IEA).
July 13, 2023, 12 AM MDT
Global oil demand is projected to climb by 2.2 million bbls/d in 2023 to reach 102.1 million bbls/d, a new record, noted the International Energy Agency (IEA) in its July update on the oil market.
July 13, 2023, 12 AM MDT
Deloitte Canada expects crude oil prices to increase modestly over the back half of the year as reduced supplies begin to drain global crude inventories, according to the latest forecast from the firm’s Resource Evaluation and Advisory group.
July 12, 2023, 12 AM MDT
Three critical performance metrics for any SAGD project are daily production rate, recovery factor and steam oil ratio. This insight focuses on steam oil ratio (SOR), which measures the volume of steam required to produce one unit of oil. In particular, we look at the cumulative SOR (CSOR), which is the ratio of the cumulative volume of steam injected to the cumulative volume oil produced.
July 11, 2023, 9:30 AM MDT
July 5, 2023, 12 AM MDT
Alberta’s bitumen and crude oil output both grew in 2022 and that trend is expected to continue in the short- and medium-term, says the Alberta Energy Regulator (AER) in its 2023 industry outlook report.
June 30, 2023, 12 AM MDT
June 27, 2023, 12 AM MDT
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