Alberta

Crescent Point Bets on 10% Production Boost with Montney, Duvernay Shale Gas Strategy

Crescent Point Bets on 10% Production Boost with Montney, Duvernay Shale Gas Strategy

Crescent Point Energy Corp. is shifting its budget to center on long-term drilling in Alberta’s liquids-rich shale after landing a $500 million oil asset sale in North Dakota last month. Of a C$1.05-1.15 billion (US$788-862 million) development program in 2024, 70% is now being allocated for northern Alberta Montney and Duvernay geological formations, according to…

September 13, 2023
Trans Mountain Expansion to Advance Crude Exports, Bolster Natural Gas Demand in Alberta Oilsands

Trans Mountain Expansion to Advance Crude Exports, Bolster Natural Gas Demand in Alberta Oilsands

A target of 1Q2024 has been set for starting overseas crude oil exports on the nearly completed Trans Mountain Pipeline expansion (TMX). By almost tripling capacity to 890,000 b/d on the 704-mile route across Alberta and British Columbia, the project would foster increased natural gas consumption as the fuel for growing bitumen production in the…

June 7, 2023
Potential Production Response Propels Natural Gas Forwards Higher

Potential Production Response Propels Natural Gas Forwards Higher

With a sharp decline in upstream activity foreshadowing a potential curtailment in domestic production, and with summer cooling demand just around the corner, natural gas forwards rallied during the May 11-17 trading period, NGI’s Forward Look data show. Week/week fixed price gains of 20 cents or more were widespread throughout the Lower 48; benchmark Henry…

May 19, 2023
Traders Snap Natural Gas Futures, Cash Price Win Streaks Amid Expectations For ‘Massive’ Storage Builds

Traders Snap Natural Gas Futures, Cash Price Win Streaks Amid Expectations For ‘Massive’ Storage Builds

Natural gas futures on Wednesday finished in the red for the first time in four sessions as traders braced for several robust storage injections amid mild weather and soft export demand. The June Nymex gas futures contract settled at $2.365/MMBtu, down 1.1 cents day/day. July slid 2.5 cents to $2.509. At A Glance: Front month…

May 17, 2023
Alberta E&Ps Shut In Natural Gas, Oil Production as Wildfires Force Evacuations

Alberta E&Ps Shut In Natural Gas, Oil Production as Wildfires Force Evacuations

An estimated 150,000 boe/d of natural gas and oil production was offline and thousands of residents had been evacuated early Monday as Western and Central Alberta dealt with more than 100 wildfires, with as many as 30 considered out of control. “We note that there has yet to be reports of significant damage to infrastructure,…

May 8, 2023
Natural Gas Futures Climb Early as Weather Models Add Demand; Supply Down Amid Alberta Wildfires

Natural Gas Futures Climb Early as Weather Models Add Demand; Supply Down Amid Alberta Wildfires

Riding momentum from late last week, natural gas futures advanced in early trading Monday amid reports of declining production and modest weather-driven demand gains.  The June Nymex contract was up 6.9 cents to $2.206/MMBtu at around 8:50 a.m. ET. On Friday, the front month rallied to finish in positive territory after probing as low as…

May 8, 2023
Alberta’s Conservatives Adopt Net-Zero GHG Goals, Cite Natural Gas as Global Pathway 

Alberta’s Conservatives Adopt Net-Zero GHG Goals, Cite Natural Gas as Global Pathway 

Facing a provincial election by late May, the United Conservative Party (UCP) government of Alberta has formally adopted the Liberal Canadian administration’s goal to reach net-zero greenhouse gas (GHG) emissions by 2050. The 66-page Alberta Emissions Reduction and Energy Development Plan was endorsed by UCP Premier Danielle Smith. The UCP accepted the carbon reduction target…

April 21, 2023
Crescent Point Building Montney Portfolio with Spartan Delta Deal

Crescent Point Building Montney Portfolio with Spartan Delta Deal

Crescent Point Energy Corp. has agreed to acquire a package of liquids-rich assets in the Montney Shale of Alberta in an all-cash deal with Spartan Delta Corp. valued at C$1.7 billion ($1.2 billion). Spartan said the agreement would reward its stockholders with a payment of C$9.50 ($7.12)/share. “Over the past five years, we have fundamentally…

March 29, 2023
Alberta’s Peyto Exploration Touts Limited Exposure to AECO Natural Gas Prices 

Alberta’s Peyto Exploration Touts Limited Exposure to AECO Natural Gas Prices 

Alberta Deep Basin pure-play Peyto Exploration & Development Corp. has all but eliminated its exposure to expected weak pricing at the AECO natural gas hub for the upcoming summer, CEO Jean-Paul Lachance said. Lachance hosted a conference call on Thursday (March 9) to discuss the gas-weighted producer’s fourth quarter and full-year 2022 results.  Lachance noted…

March 13, 2023
Crescent Point Bolts On More Gassy Kaybob Duvernay Assets

Crescent Point Bolts On More Gassy Kaybob Duvernay Assets

A 102 square-mile spread of west-central Alberta drilling prospects fetched C$375 million ($281 million) in an all-cash purchase by Crescent Point Energy Corp. from Paramount Resources Ltd. The package, in the Kaybob Duvernay area, produces natural gas and natural gas liquids (NGL) at a rate of 4,000 boe/d. About one-half of the well flows are…

December 12, 2022