Gordon Jaremko

International natural gas prices leaped in the first three months of this year as economic shocks inflicted by the early 2020 onset of Covid-19 wore off, according to the Department of Energy (DOE). The United States kept its stature as the top North American gas trader, almost doubling former champion Canada’s volume. Total U.S. exports…

Whitecap Resources Inc. scored a financial comeback in the first six months of this year while also taking steps to further reduce greenhouse gas (GHG) emissions. Following a series of acquisitions of smaller companies, Whitecap oil production grew to 72,475 b/d in first-half 2021 from 55,349 b/d a year earlier. Natural gas rose to 140.9MMcf/…

Liquids-rich natural gas wells and stronger commodity prices more than paid for an expensive corporate takeover and turned Montney shale specialist Arc Resources Ltd. back into a profitable producer during the first six months of this year. Increased output and prices of all products – natural gas, oil and condensate, and natural gas liquids (NGL)…

Enbridge Inc. has assured shareholders that it would stay strong by adapting to the energy transition even as the Canadian midstream giant faces ongoing opposition from fossil fuel foes over its projects. “We believe that in all practical scenarios our assets will remain critical to supporting long-term energy demand,” said Enbridge President Al Monaco as…

Rising consumer demand for fuels from an expanded refinery and retail chain as the Covid-19 pandemic faded helped propel sharply improved financial performance by Cenovus Energy Inc. in the first six months of this year. The Calgary firm’s downstream chain of 1,073 service stations and five U.S. refineries – two in Ohio and one each…

Calgary-based Suncor Energy Inc. saw its earnings jump in the first half of the year, as oil demand rose and the pandemic receded, resulting in the North American retail unit standing out as the growth star. Maintenance turnaround projects, which limited production and sales by the refineries and oilsands operations during 2020 and early this…

Environmental cleanups to reduce carbon emissions have emerged as a fixture powered by an annual budget of up to C$40 million ($32 million) for top Canadian natural gas producer, Tourmaline Oil Corp. The agenda announced as part of its quarterly results includes cutting diesel motor use, methane leak control, paring down natural gas plant emissions,…

Toronto-based Brookfield Infrastructure Partners LP won a prolonged takeover contest for Inter Pipeline Ltd. (IPL) in Calgary today after adding an all-cash option to its bid for shareholder support and raising the total offer to about C$8.6 billion ($6.9 billion). At a cost of a deal-breaking penalty of C$350 million ($280 million), IPL canceled a…

Increased production, improved prices and strong exports to the United States turned Canadian oilsands specialist Meg Energy Corp. profitable in the first half of 2021, reversing deep losses inflicted a year ago by the Covid-19 pandemic. The Calgary firm’s bitumen production in northeastern Alberta grew to a first-half 2021 average of 91,326 b/d from 83,622…