Montney Shale

The uplift in natural gas prices didn’t begin with Russia’s invasion into Ukraine and once the war ends, prices should remain “durable,” Ovintiv Inc. CEO Brendan McCracken said recently. Denver-based Ovintiv, one of the largest North American independents, flows natural gas and oil from the Bakken and Montney shales, and the Anadarko and Permian basins.…

Natural gas transportation from the Montney Shale is topping Enbridge Inc.’s pipeline agenda in northern British Columbia (BC) where a slate of projects on the Westcoast Energy system could add capacity for 800 MMcf/d  After shippers over-subscribed an open season for transport service, Enbridge plans to proceed on a 300 MMcf/d addition to the southern…

Montney Shale pure-play Arc Resources Ltd. is forecasting strengthened pricing at the NOVA/AECO hub in western Canada relative to the U.S. Henry Hub over the coming months, according to management. In a conference call to discuss third-quarter earnings, CFO Kris Bibby said “we are excited for the immediate near term in the winter. We would…

Processing plant and pipeline additions should enable natural gas production to more than double in the Montney Shale, according to the Canada Energy Regulator (CER). Expansions by 46 plants have grown capacity in northeastern British Columbia (BC) along the Alaska Highway to 9.2 Bcf/d, or 59% more than the current 5.8 Bcf/d processing volume, a…

Not even the Covid-19 pandemic halted growth of Montney Shale production in northeastern British Columbia (GC), according to the latest annual industry performance review by the BC Oil and Gas Commission (BCOGC). Natural gas flows increased by 11% to 6.2 Bcf/d as of year-end 2021 from 5.6 Bcf/d at the same time in 2019 before…

A hot dry summer has prompted British Columbia (BC) regulators to restrict water withdrawals from remote river tributaries and small lakes for hydraulic fracturing in the Montney Shale. Drought in the northern bush is causing concern for fish populations, wildlife and community supplies, administration with the BC Oil and Gas Commission (BCOGC) wrote in an…

Canadian energy powerhouse Alberta plans to pay down government debt and cut income tax rates if a predicted windfall in oil and natural gas royalty revenue pans out, provincial officials said last week. Assuming oil and gas prices remain at current levels through the province’s fiscal year, which ends March 31, 2023, a new government…

 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…

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…