Montney natural gas producers will see higher prices along with the opportunity to meaningfully increase production as new North American LNG export capacity comes onstream the remainder of the decade, according to Jamie Heard, manager, capital markets at Tourmaline Oil Corp.
November 1, 2023, 9:51 AM MDT
Tourmaline Oil Corp.'s board of directors has approved a full year 2024 EP capital budget of $2.15 billion, reflecting a 14-15 rig program and including $225 million associated with the Bonavista Energy Corporation assets.
November 1, 2023, 3:30 PM MDT
Expect more deal making in North American unconventional resource plays in the near term as international oil companies (IOCs) and large cap U.S. operators look to add asset duration and drilling inventory to their portfolios, two E&P company leaders said at the CFA Society Calgary’s 23rd Annual Oil & Gas Forecast Breakfast on Tuesday morning.
October 31, 2023, 1:28 PM MDT
Topaz Energy Corp. posted strong Q3 results and has announced a small Clearwater royalty and infrastructure acquisition, further building on its exposure to the growing heavy oil play.
October 31, 2023, 9:05 AM MDT
The Canadian oil and gas market remains uniquely strong, said Kevin Neveu, president and CEO of Precision Drilling Corporation.
October 31, 2023, 12 AM MDT
Whitecap Resources Inc. expects to spend over $100 million annually the next three years building infrastructure as it grows Montney and Duvernay production from 70,000 to 110,000 boe/d by the end of 2027, president and chief executive officer Grant Fagerheim said at the company’s third quarter 2023 conference call.
October 27, 2023, 12 AM MDT
Whitecap Resources Inc. is using a variety of techniques including extended reach horizontal wells, multilateral wells, and open hole completions to improve productivity at its light oil assets stretching from southeast Saskatchewan to central Alberta, its East Division vice-president Chris Bullin said at the company’s third quarter 2023 conference call and 2024 budget forecast.
October 27, 2023, 7:48 AM MDT
Advantage Energy Ltd. acquired 53 net sections of Montney rights at Conroy in B.C. to increase geographic exposure to export markets including its participation in the Rockies LNG project.
October 27, 2023, 6:53 AM MDT
Whitecap Resources Inc. hit its $1.3 billion debt target in the third quarter of 2023, with the company now promising to deliver 75 per cent of free cash flow to shareholders through its base dividend and share buybacks, the company reported.
October 26, 2023, 8:06 AM MDT
PrairieSky Royalty Ltd. reported 246 wells spud on its royalty properties in Q3, including 238 oil wells with activity focused in the Clearwater, Mannville Stack and Viking plays.
October 26, 2023, 12 AM MDT
Whitecap Resources Inc. has approved a capital budget of $1.0 – $1.2 billion which includes the drilling of approximately 258 (222.7 net) wells and is expected to generate average production of 162,000 – 168,000 boe/d or five per cent production per share growth at the mid-point.
October 25, 2023, 3:17 PM MDT
At Alberta’s Oct. 18 land sale, the province sold 10,182.56 hectares of P&NG leases and licences bringing in $5.57 million. Additionally, there were 4,928 hectares of oilsands leases sold for a total bonus of $10.72 million. This brings the total cumulative bonus paid to-date for the year in Alberta to $377.07 million.
October 23, 2023, 10:16 AM MDT
Coelacanth Energy Inc. has completed two wells at Two Rivers West and has finished the drilling of a five-well pad at Two Rivers East.
October 23, 2023, 6 AM MDT
Montney operators hoping to continue growing upstream production need to rapidly cut greenhouse gas emissions to meet tightening regulatory requirements, while also reducing water use and limiting land disturbances.
October 20, 2023, 6 AM MDT
Higher oil and condensate prices resulted in operators targeting liquids-rich or oil-prone areas of the Montney over the last five years.
October 19, 2023, 6 AM MDT
The potential to grow production and generate short-cycle opportunities to take advantage of commodity price fluctuations has attracted several new operators to the Montney.
October 18, 2023, 6 AM MDT
Mid-sized Montney operators continue finding opportunities to cut costs and improve well productivity, while building Tier 1 drilling inventory to fill processing capacity for the long-term.
October 17, 2023, 6 AM MDT
When you think of the Montney play within Canada, the focus is typically on gas and condensate-rich gas wells. Although gas and condensate have been the bulk of Montney production during the life of this play, the expansion of the play has revealed a substantial presence of oil that has garnered the attention of several operators.
October 17, 2023, 9:30 AM MDT
In the 18 years since ARC Resources Ltd. drilled the first horizontal, multistage fractured well in the Montney formation over 12,000 tight oil and gas wells have penetrated the massive resource play straddling the Alberta and British Columbia border.
October 16, 2023, 6 AM MDT
In the Oct. 4 land sale, the province sold 25,568 hectares of P&NG leases and licenses bringing in $5.87 million. There were no oilsands lands sold on this date. This brings the total cumulative bonus paid to-date for the year in Alberta to $360.79 million.
October 10, 2023, 10:34 AM MDT
Merger and acquisition (M&A) activity in the prolific Montney play in northeast British Columbia and northwest Alberta has been relatively strong so far this year and more deals are likely in the cards going forward, say industry analysts.
October 5, 2023, 8 AM MDT
The United Steelworkers union (USW) says workers from ConocoPhillips in Montney, B.C., a small town north of Fort St. John, have chosen to join the union.
October 5, 2023, 11 AM MDT
Keyera Corp. marked the completion of the Key Access Pipeline System (KAPS) pipeline.
October 4, 2023, 10:42 AM MDT
Jeff Tonken will retire as chief executive officer of Birchcliff Energy Ltd. effective Dec. 31, 2023.
October 4, 2023, 3:02 PM MDT
In the Sept. 20, 2023 land sale, the province sold 14,334.79 hectares of P&NG leases and licenses bringing in $3.51 million. Additionally, 4,992 hectares of oilsands leases sold for $8.29 million. This brings the total cumulative bonus paid to-date for the year in Alberta to $354.91 million. Highlights of this sale included:
September 25, 2023, 12 AM MDT
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