Canada

Canadian Natural Gas Storage in Stout State, Leaving Abundant Supplies to Flow into U.S.

Canadian Natural Gas Storage in Stout State, Leaving Abundant Supplies to Flow into U.S.

Interruptions imposed by western wildfires last summer aside, natural gas production in Canada has often averaged around 18 Bcf/d or higher in 2023. That’s roughly 1 Bcf/d more than the 2022 standard, according to Canada Energy Regulator data, and it comes at a time when demand has largely held flat amid mild weather. The result:…

December 1, 2023
Dow Sanctions First-of-its-Kind Cracker Expansion in Alberta to Boost Output, Cut Carbon

Dow Sanctions First-of-its-Kind Cracker Expansion in Alberta to Boost Output, Cut Carbon

Chemicals giant Dow Inc., one of Western Canada’s top natural gas customers, has sanctioned an integrated ethylene cracker and derivatives complex in Alberta, which it said would be the first of its kind to reduce direct and indirect carbon emissions to net zero. The estimated US$6.5 billion brownfield investment, dubbed Fort Saskatchewan Path2Zero, is expected…

November 29, 2023
Energy Contractors Forecasting Growth for Canadian Oil and Natural Gas Drilling in 2024

Energy Contractors Forecasting Growth for Canadian Oil and Natural Gas Drilling in 2024

The Canadian oil and natural gas well count – chiefly in Alberta, British Columbia and Saskatchewan – will rise to 6,229 in 2024 from 5,748 this year, according to an annual fall forecast by the Canadian Association of Energy Contractors (CAOEC). “A continuation of capital discipline within energy producers will create a ceiling on potential…

November 28, 2023
Canadian Court Hands Victory to Petchem Industry, Striking Down ‘Unconstitutional’ Environmental Rules

Canadian Court Hands Victory to Petchem Industry, Striking Down ‘Unconstitutional’ Environmental Rules

Alberta and Saskatchewan have secured a Canadian court victory, to turn back environmental challenges and support the petrochemicals sector, which is a top natural gas customer. Federal Court Justice Angela Furlanetto revoked as “unreasonable and unconstitutional” an April 2021 Canadian cabinet regulation that rated all petrochemical items as “toxic” and launched restrictions on popular product…

November 21, 2023
Canadian Natural Gas Imports Boost Already Strong U.S. Supplies, Curb Prices

Canadian Natural Gas Imports Boost Already Strong U.S. Supplies, Curb Prices

Robust flows of natural gas southward from Canada into the Lower 48 in November are bolstering already stout U.S. supplies, helping to keep next-day cash prices in check relative to last year, analysts say. “For most of the month, imports have run more than 1 Bcf/d higher than last year, with strength most evident in…

November 20, 2023
Natural Gas Rigs Down Four, Oil Count Up Six in Updated BKR Tally

Natural Gas Rigs Down Four, Oil Count Up Six in Updated BKR Tally

The U.S. natural gas rig count dropped four units to finish at 114 for the week ending Friday (Nov. 17), while gains in the oil patch saw the combined domestic drilling tally rise two units to 618, according to updated numbers from Baker Hughes Co. (BKR). Changes in the United States for the period included…

November 17, 2023
Pieridae Seeking Buyer for Goldboro LNG Site in Pivot to Western Canada

Pieridae Seeking Buyer for Goldboro LNG Site in Pivot to Western Canada

Nearly 300 undeveloped industrial acres at the former Goldboro LNG facility are for sale in Nova Scotia as owner Pieridae Energy Ltd. focuses on oil and gas production and processing in Alberta. The Calgary-based firm set a mid-2024 target for completing the sale as a “strategic pivot” to Western Canada legacy wells and field plants…

November 16, 2023
U.S. Natural Gas Rig Totals Steady in Updated BKR Count; Oil Tally Eases Lower

U.S. Natural Gas Rig Totals Steady in Updated BKR Count; Oil Tally Eases Lower

Natural gas drilling activity held steady for the week ended last Friday (Nov. 10), while an easing oil count saw rigs slide overall in the United States for the period, according to recently updated figures published by Baker Hughes Co. (BKR). Total domestic natural gas rigs ended the week at 118, unchanged from a week…

November 13, 2023
Tourmaline Sees Tighter Market, Higher Natural Gas Prices Ahead as LNG Projects Enter Service

Tourmaline Sees Tighter Market, Higher Natural Gas Prices Ahead as LNG Projects Enter Service

Calgary’s Tourmaline Oil Corp. is anticipating stronger natural gas prices in 2024 and 2025, driven by the LNG Canada export project on British Columbia’s coast and new liquefaction projects elsewhere in North America.  CEO Michael Rose hosted a conference call to discuss third quarter earnings for Canada’s largest natural gas producer, which operates in three…

November 13, 2023
Precision Drilling Forecasting Stronger North American Natural Gas, Oil Activity in ‘24

Precision Drilling Forecasting Stronger North American Natural Gas, Oil Activity in ‘24

Calgary-based Precision Drilling Corp., whose oilfield expertise is concentrated in North America, is anticipating “a sustained period of elevated natural gas drilling activity” in advance of the sooner-than-later wave of LNG export facilities, both in Canada and the Lower 48. CEO Kevin Neveu discussed the third results and the forecast for the year ahead during…

October 30, 2023