Alberta

Alberta natural gas producer Peyto Exploration & Development Corp. has no plans to curtail production like some of its North American peers, despite current weak pricing at the Henry Hub and AECO locations. Peyto would only shut in wells if AECO prices were to go negative, CEO Jean-Paul Lachance told analysts during the firm’s fourth…

Upstream natural gas and oil explorers in Canada are expected to increase their capital spending over 2023, but not by much, according to a top industry group. The Canadian Association of Petroleum Producers (CAPP) issued its latest survey of capital expenditures (capex) for the upstream sector in Canadian dollars (C$1.00/US74 cents).  Capex is forecast at…

The Biden administration’s pause on LNG export licenses may have opened the door for competing projects in Canada to gain ground after years of lagging behind. Canadian officials this month have been playing up their lower emission bonafides in the wake of their southern neighbor’s pause on licenses, in a bid to push for Canada’s…

Alberta, Canada’s top hydrocarbon producing province, has seen strong investment in both oil and natural gas projects, which is leading to a strong revenue boost in 2023. “Prospects for the energy sector remain positive, underpinned by solid energy  prices and the anticipated increase in Alberta’s takeaway capacity,” according to Alberta’s recent fiscal update. “Energy prices…

Canada has unveiled draft regulations to curb methane pollution from the oil and natural gas sector, coinciding with the finalization of similar rules by the U.S. Environmental Protection Agency.  The proposed federal regulations, presented during the Global Methane Pledge Ministerial at the 28th Conference of the Parties climate summit in Dubai, are designed to help…

Calgary-based Crescent Point Energy Corp. is jumping into the merger frenzy with a goal to transform its portfolio in Western Canada with the $1.9 billion cash-and-stock takeover of crosstown rival Hammerhead Energy Inc. “This strategic consolidation is an integral part of our overall portfolio transformation,” said Crescent Point CEO Craig Bryksa. The assets are in…

Canadian oil and gas producers, service firms and financers predict a “moderate growth” year in 2024 as new overseas export outlets surface on the Pacific coast of British Columbia (BC), according to ATB Capital Markets Inc. The optimism emerged in a survey held from Sept. 18 to Oct. 2 of 26 producers, 30 oilfield service…

Canada’s largest natural gas producer, Tourmaline Oil Corp., disclosed it plans to acquire Bonavista Energy Corp. as it looks to add “decades of inventory” to its existing Deep Basin assets in Alberta, according to the firm. Calgary-based Tourmaline signed an agreement to acquire Bonavista in a deal valued at $1.1 billion (C$1.45 billion). The acquisition…

Canadian leaders traded barbs on Monday about the future of the nation’s natural gas and oil at international conferences in Calgary and in New York City At the World Petroleum Conference in Calgary, Alberta Premier Danielle Smith repeated a vow to cut greenhouse gas (GHG) emissions but said the province’s gas and oil production was…