Canada

Calfrac Well Services Ltd. is projecting steady utilization of 15 completion fleets across the United States and Canada for the rest of this year, management said.  “Even with the constructive long-term outlook for the United States pressure pumping industry, the company expects to navigate any potential activity reduction in its natural gas concentrated regions by…

As TC Energy Corp. plans to continue investing billions to expand North American natural gas pipeline capacity through the decade, CEO Francois Poirier said political momentum for permitting reform and an appreciation for infrastructure could pave the way for expansions and greenfield projects to boost LNG exports. On the sidelines of the CERAWeek by S&P…

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…

Calgary-based independent Canadian Natural Resources Ltd. made a strategic decision to ramp up its substantial natural gas portfolio last year, which resulted in a 23% increase in output year/year. “For North American operations, 2022 annual natural gas production was 2.08 Bcf/d, versus the 1.68 Bcf/d for 2021, up almost 395 MMcf/d,” said President Tim McKay…

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…

Pipeline and environmental projects will fire up 2023 into a growth year in Canadian natural gas and oil investments, according to a major industry trade group. The Canadian Association of Petroleum Producers (CAPP) is forecasting investments totaling US$30 billion total this year, up by $3 billion from 2022. “The year 2023 may be one of…

Whitecap Resources Inc. said it is pumping up the natural gas and oil volumes in the Montney Shale and Duvernay formations following a breakout year. The Calgary-based independent, which reports in Canadian dollars (C$1.00/US 75 cents), last year paid $1.7 billion to buy assets in the Montney and Duvernay formations owned by ExxonMobil affiliates, including…

Montney and Duvernay shale producers will gain a new pipeline this spring for liquid byproducts of their production in northern Alberta and British Columbia (BC), project leader Keyera Corp. said in its year-end report. Keyera, which reports in Canadian dollars (C$1.00/US 75 cents), said the estimated $2 billion dual line would carry gasoline-like condensate in…

Increased production prices and strong retail fuel demand nearly doubled the quarterly earnings for Canadian oilsands heavyweight Suncor Energy Inc.  The Calgary producer tapped the northern Alberta oilsands for average production of 665,200 b/d, or 90% of 2022 production. That was up from 644,200 b/d in 2021. The company, which reports in Canadian dollars (C$1.00/US…