Growth in Montney Shale natural gas production is fueling a C$350 million ($280 million) proposal for a natural gas liquids (NGL) pipeline from the northeastern British Columbia (BC) industry hotspot to a processing and trading location in Alberta. NorthRiver Midstream NEBC Connector GP Inc. set a completion target of late 2024 for the conduit in…
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Canada’s Montney Shale to Supply Low-Carbon Petrochemical Project in Alberta
A petrochemical plant recently announced, slated to be in service by 2026, could produce up to 200 metric tons/year of low-carbon blue ammonia and methanol using natural gas from the Montney Shale, officials said. Calgary-based Northern Petrochemical Corp. (NPC), a private venture, is proposing to build the C$2.5 billion ($2 billion) project in the planned…
Canadian Natural Expanding Montney Shale Leasehold with Storm Resources Takeover
Canadian Natural Resources Ltd. is scooping up liquids-rich Montney Shale wells and growth prospects in northern British Columbia (BC) with its takeover of Storm Resources Ltd. The acquisition, announced Wednesday, gives the Calgary-based producer 170 square miles of the Montney, where Storm reports liquid byproducts average 20% of well flows. Current production is averaging 136…
Responsibly Sourced Gas Trade Expanding in Canada with Macquarie, Energir Deal
Macquarie Energy Canada Ltd., using a virtual market, is expanding the ethically produced natural gas trade, aka responsibly sourced gas (RSG), with the sale of British Columbia (BC) production to Montreal-based distribution company Energir. The Macquarie unit used a virtual market created by Xpansiv CBL Holding Group (XCHG), trademarked as the Xpansiv Digital Fuels Registry,…
Topaz Boosts Montney Stakes with Tourmaline Royalty Deal
Lured by liquids-rich natural gas and growth prospects, Topaz Energy Corp. has snagged a share in Tourmaline Oil Corp.’s production from the Montney Shale in northeastern British Columbia (BC) for C$145 million ($116 million). The deal announced Thursday gives Topaz 4% royalty interests in gas and 2.5% in liquids tapped by larger player Tourmaline Oil…
Tourmaline Continues North Montney Expansion with Eyes on Canadian LNG
Tourmaline Oil Corp. is beefing up its North Montney Shale holdings with the C$1.1 billion ($900 million) purchase of privately held Black Swan Energy Ltd., a deal that could position supplies for the Canadian liquefied natural gas (LNG) market. Tourmaline said Friday the purchase was an “important component” of its ongoing consolidation strategy in the…
Petronas Boosts North Montney Footprint, Sells First Asian LNG Spot Cargo Linked to AECO
Malaysia’s state-owned Petroliam Nasional Berhad, aka Petronas, has increased its ownership of Montney shale production destined for liquefied natural gas (LNG) exports from British Columbia (BC) and added a Canadian price benchmark to its international marketing. Japan Petroleum Exploration Co. Ltd. (Japex) announced that it would sell its 10% share in a BC supply partnership…
Arc Resources, 7G Combination to Create Montney Natural Gas, Condensate Giant
Canada’s Arc Resources Ltd. and Seven Generations Energy Ltd. (7G) agreed to merge on Wednesday, a combination that would create one of the top natural gas operators in the country, with output centered in the Montney Shale. Combined production this year is estimated at 340,000 boe/d-plus, including 1.2 Bcf/d of gas and 138,000 b/d of…
Ovintiv to ‘Carefully Review’ Investor’s Board Nominees
Private investor Kimmeridge Energy Management Co., which owns a 2.5% stake in Ovintiv Inc., has nominated three people to stand for board election as Kimmeridge looks to upend oversight of the Denver-based independent. Earlier this month Kimmeridge warned Ovintiv that the exploration and production (E&P) company needed to improve performance or face a reckoning. “Given…