Canada

As Western Canadian Production Ramps Up, Natural Gas Prices Plummet

As Western Canadian Production Ramps Up, Natural Gas Prices Plummet

U.S., European and Asian natural gas prices soared this summer amid enduring global demand and worries about strained supplies. Western Canadian prices, in contrast, collapsed. What gives? Just as Canadian producers bolstered output to pandemic-era highs to help meet global demand this summer, a series of pipeline restrictions cut into takeaway capacity. Unplanned outages and…

August 31, 2022
U.S. Natural Gas Activity Slows Modestly, Oil Tally Grows on Permian Gains

U.S. Natural Gas Activity Slows Modestly, Oil Tally Grows on Permian Gains

The U.S. natural gas rig count fell one unit to 158 for the week ended Friday (Aug. 26), while a round of gains in the oil patch lifted the combined domestic drilling tally three units higher to 765, according to the latest data from oilfield services provider Baker Hughes Co. (BKR). Week/week changes domestically included…

August 26, 2022
Canada, Germany Advancing Energy Cooperation Agreement to Hammer Russian Influence

Canada, Germany Advancing Energy Cooperation Agreement to Hammer Russian Influence

 A mammoth wind-powered hydrogen production project planned in Newfoundland is poised to emerge as a frontrunner to keep the Canadian government’s promise to deliver new supplies for energy-hungry Europe. Prime Minister Justin Trudeau and German Chancellor Olaf Scholz plan to unveil an energy cooperation agreement at the Stephenville deepwater port site for the proposed Project…

August 22, 2022
Calgary’s Pason Sees Continued Onshore Drilling Uptick in North America

Calgary’s Pason Sees Continued Onshore Drilling Uptick in North America

Natural gas and oil field activity will become even more robust as the limits of shrinking storage volumes and drilled but uncompleted (DUC) well inventories become more pronounced, according to Calgary-based drilling technology supplier Pason Systems Inc.  “Meeting global demand for oil which is similar to pre-pandemic levels will require new drilling,” said CEO Jon…

August 17, 2022
Spartan’s Oil, Natural Gas Surge in Western Canada Spurred by Takeovers, High Prices

Spartan’s Oil, Natural Gas Surge in Western Canada Spurred by Takeovers, High Prices

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…

August 16, 2022
Canada’s Oilsands E&Ps Eyeing Enhanced Returns, Decarbonization

Canada’s Oilsands E&Ps Eyeing Enhanced Returns, Decarbonization

Calgary-based Imperial Oil Ltd. plans to use proceeds from high oil prices it realized during 2Q2022 to return more cash to shareholders and reduce greenhouse gas (GHG) emissions; goals echoed by its Canadian peers. The management teams of Canadian Natural Resources Ltd. (CNRL), Cenovus Energy Inc., Imperial and Suncor Energy Inc. each held recent conference…

August 15, 2022
Repsol Considers Reviving LNG Export Project from Atlantic Canada’s Canaport Terminal

Repsol Considers Reviving LNG Export Project from Atlantic Canada’s Canaport Terminal

Several years after the proposal was shelved, Repsol SA may revive a plan to export natural gas from its Atlantic Canada LNG import terminal. The Spanish-based energy major’s executive team discussed the potential to move liquefied natural gas (LNG) from Atlantic Canada to overseas markets during the second quarter earnings call. “We have met authorities…

August 11, 2022
Keyera Gaining New KAPS Partner Following Competition Board Investigation

Keyera Gaining New KAPS Partner Following Competition Board Investigation

Calgary-based Keyera Corp., whose massive pipeline system intended to move liquids from the Montney Shale is 70% complete, is awaiting a new partner to potentially take half-ownership in the project after the Competition Board of Canada ordered a partner’s sale. CEO Dean Setoguchi, who discussed second quarter results during a conference call, said the Competition…

August 9, 2022
Pembina Eyes Canada LNG, Montney for Future Growth

Pembina Eyes Canada LNG, Montney for Future Growth

 Pembina Pipeline Corp. management predicted “meaningful” growth after robust second quarter activity and advancement of some key infrastructure projects. CEO Scott Burrows said the second quarter was an indicator of the upward trajectory for the company, supported by growth in natural gas liquid volumes “across many of Pembina’s systems.” Support for Canadian LNG projects also…

August 8, 2022
TC Energy, CFE Sanction Mexico’s 1.3 Bcf/d Marine Pipeline Extension; Possible Start in 2025

TC Energy, CFE Sanction Mexico’s 1.3 Bcf/d Marine Pipeline Extension; Possible Start in 2025

Canada’s TC Energy Corp. and Mexico’s Comisión Federal de Electricidad (CFE) have reached a final investment decision (FID) to build a 444-mile underwater natural gas pipeline. The 1.3 Bcf/d, $4.5 billion Southeast Gateway Pipeline would originate onshore in Tuxpan, Veracruz. It then would proceed offshore, making landfall at Coatzacoalcos, Veracruz and Dos Bocas, Tabasco. Dos…

August 5, 2022