Alberta

Liquids-Rich Production in Alberta’s Charlie Lake Field Inspires Calgary Dealmaking

Liquids-Rich Production in Alberta’s Charlie Lake Field Inspires Calgary Dealmaking

Liquids-rich natural gas and prolific oil properties in northwestern Alberta, known as the Charlie Lake field, inspired C$526 million (US$421 million) in deals announced this week by Calgary-based operators.  In one transaction, Tamarack Valley Energy Ltd. paid C$247.5 million ($198 million) cash and traded 105.3 million shares valued at C$2.34/share ($1.87) for Anegada Oil Corp.…

April 14, 2021
Alberta Working to Expand Natural Gas-Fired Petrochemical Projects with Inter Pipeline Grant

Alberta Working to Expand Natural Gas-Fired Petrochemical Projects with Inter Pipeline Grant

The Alberta government on Monday awarded a C$408 million ($326 million) grant to Inter Pipeline Ltd. for new industrial projects that use natural gas and its liquid byproducts as raw materials. Inter Pipeline is receiving the grant through the Alberta Petrochemicals Incentive Program (APIP) in three annual installments after the scheduled completion of its C$3.9…

April 5, 2021
Natural Gas Glut, Keystone XL Cancellation Seen Weighing on Alberta Finances

Natural Gas Glut, Keystone XL Cancellation Seen Weighing on Alberta Finances

After losing nearly C$1.3 billion ($975 million) on the aborted Keystone XL (KXL) oil export pipeline project, Alberta, Canada’s top fossil fuel-producing province, also stands braced for more lean years on oversupplied North American natural gas markets. The toll taken by the Covid-19 pandemic, energy commodity surpluses and a bad bet on the U.S. presidential…

February 26, 2021
Alberta-Focused Obsidian Plans to Increase 2020 Spending Amid Higher Commodity Prices

Alberta-Focused Obsidian Plans to Increase 2020 Spending Amid Higher Commodity Prices

Calgary-based exploration and production (E&P) company Obsidian Energy Ltd. said Monday it would try to capitalize on higher commodity prices by spending an additional C$3.2 million ($2.5 million) in 2020 to begin drilling the first pad in its Central Alberta Willesden Green asset. Obsidian’s 2020 capital spending is set to increase to C$56 million ($43…

December 1, 2020
Headwater, Cenovus Partner to Develop Marten Hills Oil in Northern Alberta

Headwater, Cenovus Partner to Develop Marten Hills Oil in Northern Alberta

A C$100 million ($75 million) oil development is planned over the next two years by a new northeastern Alberta drilling partnership announced Monday between Headwater Exploration Inc. and Cenovus Energy Inc. The deal gives Headwater a working ownership from Cenovus of Marten Hills, a 295-square-mile prospect, with C$35 million ($26 million) in cash plus 50…

November 9, 2020
Alberta Natural Gas Industry Considered Integral to Economic Recovery Post Covid-19

Alberta Natural Gas Industry Considered Integral to Economic Recovery Post Covid-19

Natural gas rose to the top of the Alberta government’s economic recovery agenda in a plan announced Tuesday to reverse supply/demand declines that set in well before the Covid-19 pandemic. “For more than 100 years, natural gas has been the cornerstone of Alberta’s energy economy,” said a provincial policy paper titled “Getting Alberta Back to…

October 7, 2020
Alberta Launches Oil, Natural Gas Methane Reduction Effort Funded by Emissions Penalties

Alberta Launches Oil, Natural Gas Methane Reduction Effort Funded by Emissions Penalties

A methane emissions cleanup drive has begun in Canada’s top oil and gas-producing jurisdiction, with the bills paid by levies imposed on companies that miss provincial carbon reduction targets. The Alberta government announced that the methane control campaign will use C$52 million ($39 million) from a banked waste carbon penalty fund called TIER, short for…

September 29, 2020
Alberta Oilsands Output Seen Rising, but Recovery ‘Filled with Uncertainty’

Alberta Oilsands Output Seen Rising, but Recovery ‘Filled with Uncertainty’

                               Canada’s top natural gas user, Alberta oilsands production, will increase even if the worst current projection of fossil fuel markets turns out to be true, according to a Calgary-based energy economics agency. The global slump caused by public health emergency responses to the Covid-19 pandemic only eroded the Alberta industry’s growth rate, the…

August 21, 2020
Goldboro LNG Hits Regulatory Snag in Alberta Related to Supply Acquisition

Goldboro LNG Hits Regulatory Snag in Alberta Related to Supply Acquisition

A second attempt is under way to fulfill environmental rules for a supply deal for the Goldboro liquefied natural gas export facility proposed for Canada’s east coast after the Alberta Energy Regulator (AER) rejected the first transaction plan.

May 20, 2020
Alberta’s Helium Industry Ballooning as Prices Soar Far Above Natural Gas

Alberta’s Helium Industry Ballooning as Prices Soar Far Above Natural Gas

Alberta, Canada’s chief natural gas producing province, has set out to break into international markets for a form of helium, which fetches prices up to 100 times higher.

May 20, 2020
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