Montney Shale producer Arc Resources Ltd. sees inflation and continued supply chain snarls ballooning its costs for the rest of the year, leading it to raise its capital budget by 16.6%. Calgary-based Arc is now forecasting capital spending of $1.35-$1.45 billion, up from an initial plan of $1.15-$1.25 billion. Management said the upward revision primarily…
Canada
Articles from Canada

Cenovus Chief Urges Less Aggressive Canada GHG Targets for Natural Gas, Oil Producers
Framing the Canadian government’s goals for cutting greenhouse gas (GHG) emissions from fossil fuel production as too much, too soon, management at Cenovus Energy Inc. expressed doubts about how workable the system would be for natural gas and oil producers. “I am very worried that if we remain on this path, it could lead to…

Enbridge Grabs Stake in Canada’s Woodfibre, Progresses LNG Exposure Strategy
As the role of LNG exports looms larger, Enbridge Inc. agreed to invest in a potential Canadian project and continue to pair its extensive natural gas networks with terminal projects. Calgary-based Enbridge increased its market share of natural gas transportation to cover 20% of the volumes exported from North America. CEO Al Monaco said the…

U.S. Natural Gas Drilling Tally Inches Higher as Oil Patch Sees More Growth
The U.S. natural gas rig count rose two units to 157 for the week ended Friday (July 29), while a six-rig increase in oil-directed drilling helped lift the combined domestic count nine units higher to 767, according to updated figures from Baker Hughes Co. (BKR). Along with the higher natural gas- and oil-directed drilling totals,…

Tourmaline Readies Montney Natural Gas Growth to Fetch Premium Prices from WCSB to Gulf Coast
Calgary-based Tourmaline Oil Corp. is continuing to build its portfolio of natural gas and oil assets as it prospects for markets across the North American continent, from the Western Canadian Sedimentary Basin (WCSB) to the South Texas coast. CEO Michael Rose led a conference call to discuss the exploration and production (E&P) company’s second quarter…

Atlantic Canada Readies Claim to Gain Green Hydrogen Edge
Development plans for low-carbon hydrogen have spread to the Atlantic seaboard of Canada, with technology and infrastructure firms from the United States playing key roles. New York-based Plug Power Inc. sold a 5 MW electrolyzer to the top Canadian refinery, Irving Oil in New Brunswick. The 320,000 b/d refinery plans to conduct trials to produce…

Canadian, U.S. Energy Leaders Warn Strict Environmental Policies Contributing to Inflation
Canadian oil and gas leaders and a former U.S. ambassador warned Monday that inflationary pressure and volatile energy markets impacting North America and Europe are directly related to restrictive environmental policies. “The influence of energy is so large it’s difficult to comprehend,” Alberta industry elder statesman Mac Van Wielingen said Monday during the Pacific NorthWest…

Gazprom Hints at Extended Outage of Nord Stream 1, Delayed Receipt of Turbine Engine from Canada
Russia’s Gazprom PJSC said in a Wednesday statement it currently had no indication vital equipment for its Nord Stream 1 (NS1) pipeline would be returned from Canada, potentially reversing hopes of a quick restoration of natural gas capacity for Europe. A gas turbine engine from one of NS1’s compressor stations (CS) has been under maintenance…

Canada’s Woodfibre LNG, Siemens Partner for All-Electric Export Terminal in BC
Woodfibre LNG, the second Canadian liquefied natural gas project to enter construction, awarded a contract Tuesday for an all-electric export terminal on the Pacific coast of British Columbia (BC). Siemens Energy Canada won the order with a design that would use power from provincial government-owned BC hydro dams to run all Woodfibre gas refrigeration to…

Canada Sending Nord Stream Equipment to Europe as More Russian Natural Gas Cuts Feared
European demand for natural gas prevailed in a weekend decision to let pipeline machinery bypass Canadian trade sanctions against Russia for invading Ukraine. Canada’s Natural Resources Minister Jonathan Wilkinson described the move as “supporting Europe’s ability to access reliable and affordable energy as they transition away from Russian oil and gas.” The decision allows a…