Montney Shale

British Columbia (BC) has unveiled a revamped oil and natural gas production royalty system that would replace a patchwork of complex incentives with a flat 5% rate on all wells until costs are fully paid. The sliding-scale royalties on paid-for wells would range from 5% to 40%. Rates would be driven by prices fetched on…

Rising prices and producer demand for delivery service in the gassy Montney Shale of northern Alberta and British Columbia (BC) ignited a “tremendous start” to the year for Pembina Pipeline Corp., management said.  The Calgary operator, which reports in Canadian dollars (C$1.00/US 80 cents) said highlights of the first quarter included relaunching construction of the…

Record natural gas production and stronger commodity prices propelled Canadian Natural Resources Ltd. (CNRL) in the first three months of this year, enabling returns to shareholders and corporate debt reduction. Natural gas production jumped by 25% in 1Q2022 from a year earlier to 2 Bcf/d, management noted. Liquids production hovered at 945,809 b/d, off from…

As the top supplier of Canadian natural gas, Calgary-based independent Tourmaline Oil Corp. plans to increase Montney Shale output when tanker sailings begin from the Shell plc-led export project, LNG Canada. Plans to boost supply for the liquefied natural gas (LNG) facility under construction in British Columbia (BC) were discussed by Tourmaline’s management team as…

Calgary-based Vermilion Energy Inc. has gained 120 square miles of natural gas-rich Montney Shale drilling rights with a C$477 million ($382 million) takeover of Leucrotta Exploration Inc. The acquired property package in northern Alberta and British Columbia was announced Monday.  Vermilion said the Leucrotta deal would enable more than doubling current combined natural gas and…

Rising fossil fuel prices and a corporate takeover propelled Montney Shale natural gas producer Arc Resources Ltd. to a nearly six-fold increase in quarterly profits. Management called 2021 “transformational” for the Calgary-based producer as the oil and natural gas markets bounced back. Production jumped sharply during the fourth quarter from a year ago after the…

 A 1,020-square-mile spread of Canadian drilling rights in the Montney and Duvernay formations of Western Canada went on the market by ExxonMobil affiliates Wednesday in the latest property sales launched by integrated major. Seventy-percent owned Imperial Oil Ltd. and ExxonMobil Canada Ltd. are taking offers for their stakes in the parent company’s unconventional unit XTO…

British Columbia (BC) is poised to overtake Alberta and become the top source of Canadian natural gas as of 2028, the Canada Energy Regulator (CER) said in its latest annual industry review. The liquids-rich Montney Shale deposit, which fuels all drilling in BC and extends east into Alberta, could account for three-quarters of Canadian gas…

Calgary-based Cenovus Energy Inc. said Tuesday that it would direct proceeds from its pending sale of Montney Shale assets to an undisclosed buyer toward accelerating corporate debt reduction and boosting returns to shareholders.. The Montney deal is one of two newly announced divestitures for Cenovus, which also agreed to sell 337 retail fuel sites to…