Montney

After achieving profits that more than replaced losses incurred in the economic shock inflicted by the Covid-19 virus pandemic, Canadian Natural Resources Ltd. (CNRL) has announced a C$275 million ($220 million) budget increase for this year. The corporate budget increase by 8.5% to C$3.48 billion ($2.78 billion) has a green tinge. Around C$45 million ($36…

A British Columbia (BC) trial court has directed the provincial government to build Indigenous rights into strengthened regulation of the Montney Shale region, but stopped short of handing out injunctions that would have halted natural gas supply development. After a six-year review of cumulative effects on the Blueberry River First Nations that included a 160-day…

Western Canada-focused Pembina Pipeline Corp. painted a rosy outlook in its first quarter earnings report for a Canadian industry-wide recovery amid improving commodity prices, with volumes from the Montney Shale and the Duvernay formation expected to grow. “Over the past few quarters, across both the pipelines and facilities divisions, we have seen steady increases in…

Denver-based Ovintiv Inc. streamlined the business during 1Q2021 to focus only on the Anadarko, Montney and Permian basins as it eyes slashing debt to appease restless investors. With long-held but neglected shale properties in Canada’s Duvernay and the South Texas Eagle Ford sold off, the independent has accelerated a $4.5 billion total debt target timeline…

Canada’s Arc Resources Ltd. and Seven Generations Energy Ltd. (7G) have agreed to merge, 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 condensate.…

Construction schedules are under review in British Columbia (BC) for its entry into the global natural gas export market as a result of labor force limits that provincial public health authorities adopted to counter the impacts from the pandemic. “Long-term impacts to the overall schedule continue to be assessed,” said TC Energy Corp. Vice President…

The Montney Shale will be scrutinized to explore the links between earthquakes and hydraulic fracturing during this winter’s natural gas drilling season in northeastern British Columbia (BC). A 14-square-mile grid of 36 seismic tremor detectors will trace geological effects of the horizontal well completion method at a drilling hot spot known as Tower Lake, southeast…

Rich Montney Shale resources will let British Columbia (BC) take over from Alberta as the top Canadian natural gas producer jurisdiction within 20 years, according to two separate supply projections. Alberta falls behind BC in the latest national outlook by the Canada Energy Regulator (CER), Canada’s Energy Future 2020. The gas lead changes in both…

Ovintiv Inc.’s multi-basin portfolio across North America primarily is focused on crude and condensate, but with around 1.5 Bcf/d of natural gas output, there are lots of options available depending on the direction of commodity prices, CEO Doug Suttles said last week. Speaking with his management team during a third quarter conference call, Suttles said…