Tourmaline Oil Corp., Canada’s largest natural gas producer, plans to boost spending and pull forward some drilling in the Montney Shale originally scheduled for next year into the final weeks of 2021. The company credited “materially reduced drilling times,” particularly at its northeastern British Columbia assets, with the decision. Tourmaline reported a 20% reduction in…
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CNRL Continues Montney Development, Eyes Big Emissions Cuts
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…
BC Court Says Indigenous Rights Must Be Considered in Montney Shale Regulations
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…
Pembina Sees Green Shoots in Western Canadian Unconventionals as Commodity Prices Improve
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…
Ovintiv Moves to Streamline Costs, Debt by Focusing on Anadarko, Montney and Permian
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…
Canadian E&P Merger to Create Montney Shale Natural Gas, Condensate Goliath
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.…
LNG Canada Conduit Coastal GasLink, Other BC Energy Projects Temper Labor Force on Covid Outbreak
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…
Seismic Monitoring Readied This Winter in Montney Shale Hot Spot
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…
Montney on Track to Become Leading Canadian Natural Gas Play
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 Sees Options for Natural Gas-Rich Montney, If Prices Cooperate
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…