Calgary

Paramount Resources Ltd. has set its sights on finishing its fifth walking rig after higher natural gas and oil prices more than doubled 2022 earnings. The independent reports earnings in Canadian dollars (C$1.00/US 75 cents). The Calgary firm’s 2023 budget enables subsidiary Fox Drilling to finish building the high-tech rig for $16.8 million. The program…

Canada’s top natural gas producer, Tourmaline Oil Corp., is training its sights on the Montney Shale and revamping the marketing portfolio to fetch solid prices in North America and overseas. CEO Michael Rose led a conference call to discuss the Calgary-based exploration and production (E&P) company’s fourth quarter and full-year results. He also offered some…

Calgary-based Crescent Point Energy Corp. recorded a 10% increase in natural gas production during the third quarter, but the company is focusing on the Kaybob Duvernay formation for liquids growth over the next five years. Management said natural gas output hit 144.3 MMcf/d during the quarter, up from 130.8 MMcf/d a year earlier. Natural gas…

After swiftly completing five takeovers, Tamarack Valley Energy Ltd. emerged in the third quarter as an independent natural gas and oil growth star in the Clearwater formation of Canada. The Calgary independent has paid about $1.1 billion for five deals across the Clearwater area, which is northeast of Alberta. The latest was in September, when…

TC Energy Corp. is set to bring utility-scale solar power to its product line with the first C$146 million ($109 million) project at its Calgary home base. The initial generating site would have an 81 MW capacity and include a jumbo battery. It would supply a suburban community, as well as TC’s pipeline network. The…

Increased prices for liquids-rich oil and natural gas production from Alberta and British Columbia, along with four corporate takeovers, fueled a solid second quarter for Calgary’s Spartan Delta Corp. The independent put together a bundle of energy-rich properties from dealmaking in Western Canada that enriched the bottom line during 2Q2022.  Spartan, which reports in Canadian…

Montney Shale producer Advantage Energy Ltd. is seeking to boost oil and natural gas output this winter after raising its capital spending target for 2021 amid improved commodity prices. The Calgary-based company said it was raising its capital guidance by $20 million to a range of $140 million-$150 million. Advantage plans on using the extra…

Calgary takeover target Inter Pipeline Ltd. rejected a second uninvited bid Thursday by Toronto-based Brookfield Infrastructure Partners. Inter Pipeline said a combination announced Tuesday (June 1) with Calgary-based Pembina Pipeline Corp. would be a better industrial match with growth prospects. Both firms have pipeline, processing and storage networks, and Inter Pipeline is building a new…

Confirmation that horizontal drilling and hydraulic fracturing (fracking) caused three central Alberta earthquakes since 2014 has resulted in tightened safety controls on industry operations.