Producers will be mandated to limit production by at least another year.
August 20, 2019, 2:28 PM MDT
Connacher Oil and Gas Limited’s second quarter production decreased to 10,804 bbls/d in Q2 2019, from 12,593 bbl/d in the comparative quarter in 2018 primarily due to natural declines.
August 20, 2019, 11:24 AM MDT
August 20, 2019, 7:12 AM MDT
Cenovus Energy Inc. has secured regulatory approval to inject butane into the sales oil streams at both of its large SAGD projects in order to reduce costly diluent requirements.
August 19, 2019, 10:20 AM MDT
The DOB confirms a report in the Financial Post on Wednesday that Koch Industries Inc. has sold its large oilsands position to Paramount Resources Ltd.
August 15, 2019, 7:20 AM MDT
Thermal oilsands production increased by approximately 100,000 bbls/d month-over-month in June as projects completed turnaround activity, new DOB data shows. June 2019 volumes were slightly higher than June 2018, after production in May decreased by 128,000 bbls/d compared to the previous year.
August 14, 2019, 12 AM MDT
Although Enbridge Inc. doesn't expect to file an application for contract capacity on the Canadian Mainline with the National Energy Board (NEB) until later this year, a producer group is urging the regulator to move cautiously.
August 12, 2019, 12 AM MDT
Global oil demand fell 160,000 bbls/d year-over-year in May, the second annual fall seen in 2019, according to the International Energy Agency (IEA).
August 9, 2019, 7:21 AM MDT
Gibson Energy Inc. is refining its expected 2019 capital budget to between $230 million and $280 million, reflecting growth projects the company has added since the start of this year.
August 7, 2019, 11:16 AM MDT
The recent open letter to Canadians penned and signed by three oilsands sector executives was on target — but it missed a bull's-eye opportunity.
August 6, 2019, 9:28 AM MDT
The CEO of Imperial Oil Limited says that physical market conditions are ripe for the Alberta government to ease its oil curtailment sufficiently to “test the system” and provide a sustainable economic incentive for crude-by-rail to balance the market.
August 2, 2019, 11:12 AM MDT
Athabasca Oil Corporation’s second quarter consolidated output decreased to 33,958 boe/d from 37,658 boe/d for the comparable period in 2018 as both the company’s light oil and thermal segments reported reduced production year-over-year.
August 2, 2019, 12 AM MDT
The resolution of the market access issues facing the Canadian oil industry is starting to get “less blurry,” says the president of the country’s largest producer. Tim McKay told Canadian Natural Resources Limited’s second quarter conference call this morning that there is positive momentum on a number of fronts that should help improve market conditions.
August 1, 2019, 11:31 AM MDT
August 1, 2019, 6:45 AM MDT
The cautious optimism of MEG Energy Corp.’s initial 2019 capital budget has been pulled back, with the company announcing that it will not sanction $75 million that would have gone towards incremental production growth at its Christina Lake oilsands project.
July 31, 2019, 10:05 AM MDT
North American Construction Group Ltd. (NACG) expected positive financial results this year thanks to key acquisitions made last year, which is exactly what the company’s second quarter results confirm, says management.
July 31, 2019, 10:35 AM MDT
Value Chain Solutions, a member of the Value Creation Group, says that as the first phase of its Heartland complex upgrader it intends to consider accelerating implementation to the approved capacity.
July 30, 2019, 10:05 AM MDT
Teck Resources Limited’s proposed Frontier oilsands mine and processing plant north of Fort McMurray is in the public interest due to its economic benefits despite the fact it likely will result in significant adverse environmental effects, a Joint Review Panel has found.
July 26, 2019, 6:53 AM MDT
Teck Resources Limited is planning to reclaim the Frontier oilsands project footprint to equivalent land capability and relies on reclamation as the key mitigation measure for various environmental effects, said the Joint Review Panel report on the project released on Thursday.
July 26, 2019, 7:06 AM MDT
Suncor Energy Inc. reported record production and strong cash flow in the second quarter as the company strategically moved more bbls to Syncrude, including curtailment volumes purchased from third parties, in order to boost production of higher value synthetic crude oil (SCO).
July 25, 2019, 10:56 AM MDT
Suncor Energy Inc. is nearing a sanction decision on a new major project to replace coke fired boilers at its oilsands Base Plant with gas-fired cogeneration units, CEO Mark Little said this morning. The project is a key piece of the company’s strategy to an incremental $2 billion of cash flow by 2023, he said.
July 25, 2019, 11:01 AM MDT
Cenovus Energy Inc.’s top executive says the Alberta government’s mandatory curtailment program is “doing what it was designed to do,” and the company expects the province will continue to “use it as a tool” while there is an inadequate balance between takeaway and production capacity.
July 25, 2019, 11:48 AM MDT
Cenovus Energy Inc. posted strong second quarter results as free cash flow, earnings and most other financial metrics vastly improved year-over-year.
July 25, 2019, 10:49 AM MDT
Vancouver-based Teck Resources Limited benefitted from an improved profit outlook at the Fort Hills oilsands mine, where it is partnered with Suncor Energy Inc., to produce better second quarter financial results than otherwise would have been the case, as the prices for the key metals it mines declined.
July 25, 2019, 10:17 AM MDT
Canadian crude oil exports by rail climbed in May 2019 to 285,131 bbls/d, new data from the National Energy Board (NEB) showed this morning.
July 24, 2019, 11:47 AM MDT