Oilsands

Headwater, Cenovus Partner to Develop Marten Hills Oil in Northern Alberta

Headwater, Cenovus Partner to Develop Marten Hills Oil in Northern Alberta

A C$100 million ($75 million) oil development is planned over the next two years by a new northeastern Alberta drilling partnership announced Monday between Headwater Exploration Inc. and Cenovus Energy Inc. The deal gives Headwater a working ownership from Cenovus of Marten Hills, a 295-square-mile prospect, with C$35 million ($26 million) in cash plus 50…

November 9, 2020
Canada’s Cenovus, Husky Cite Synergies in Merger Worth C$23.6B

Canada’s Cenovus, Husky Cite Synergies in Merger Worth C$23.6B

Cenovus Energy Inc. announced Sunday it would take over Canadian oil and gas rival Husky Energy Inc., combining two of the country’s top producers, in a share swap valued at C$3.8 billion ($2.85 billion). Total estimated value of the transaction, including debt, is C$23.6 billion ($17.7 billion). The run rate synergies achieved by the corporate…

October 26, 2020
NGTL Gains OK to Move More Natural Gas to Thirsty Alberta Oilsands

NGTL Gains OK to Move More Natural Gas to Thirsty Alberta Oilsands

Natural gas flows will increase for thermal oilsands production following approval Thursday of a C$632 million ($474 million) pipeline expansion in northern Alberta. The Canada Energy Regulator (CER) authorized the North Corridor Project to add 81 kilometers (49 miles) of pipe and a compressor to TC Energy Corp.’s western supply grid, Nova Gas Transmission Ltd.…

September 4, 2020
Imperial Temporarily Halts Alberta Oilsands Production After Pipeline Leak

Imperial Temporarily Halts Alberta Oilsands Production After Pipeline Leak

Canada’s Imperial Oil Ltd. is temporarily shutting down its 220,000 b/d Kearl oilsands site while Inter Pipeline Ltd. repairs a leak that interrupted flows of gasoline-like condensate used as thinner for bitumen shipments from the mine. The release, detected over the weekend, affects the northeastern Alberta leg of a 238,000 b/d Inter Pipeline conduit called…

September 2, 2020
Alberta Oilsands Output Seen Rising, but Recovery ‘Filled with Uncertainty’

Alberta Oilsands Output Seen Rising, but Recovery ‘Filled with Uncertainty’

                               Canada’s top natural gas user, Alberta oilsands production, will increase even if the worst current projection of fossil fuel markets turns out to be true, according to a Calgary-based energy economics agency. The global slump caused by public health emergency responses to the Covid-19 pandemic only eroded the Alberta industry’s growth rate, the…

August 21, 2020
Alberta Oilsands Reducing Carbon Footprint, but More Work to be Done

Alberta Oilsands Reducing Carbon Footprint, but More Work to be Done

Alberta oilsands plants have slowed the growth rate of their carbon emissions by becoming more efficient in their role as Canada’s top natural gas user, according to IHS Markit.  An updated production survey released Wednesday showed a 20% reduction of average oilsands greenhouse gas (GHG) emissions since 2009 on a scale known as “intensity.” Instead…

August 5, 2020
Canada’s Wobbling Oil, Liquids Production Seen Achieving Only Modest Recovery into 2021

Canada’s Wobbling Oil, Liquids Production Seen Achieving Only Modest Recovery into 2021

After declining by 20% this spring in part on the Covid-19 pandemic, Canadian oil and natural gas liquids production will only achieve partial recovery into the first half of 2021, according to the U.S. Energy Information Administration (EIA). The Covid-19 pandemic and unstable commodity prices lopped 1.1 million b/d off 2019 supplies of 5.5 million…

July 16, 2020
Keystone XL Crude Pipeline Left Out of U.S. Supreme Court Order Reinstating Key Water-Crossing Permits

Keystone XL Crude Pipeline Left Out of U.S. Supreme Court Order Reinstating Key Water-Crossing Permits

The U.S. Supreme Court on Monday issued a unanimous order reinstating the use of a permit employed to fast-track oil and gas pipeline construction, but the ruling specified that it did not apply to the U.S. leg of the hotly contested Keystone XL crude oil pipeline that is at the center of the debate. The…

July 7, 2020
North America Takes Biggest Global Hit as Upstream Valuation Slumps $1.6T on Oil Price Crash

North America Takes Biggest Global Hit as Upstream Valuation Slumps $1.6T on Oil Price Crash

The oil price debacle, brought about in part by the demand-crushing pandemic, has wiped an estimated $1.6 trillion from the valuation of the global upstream industry, with North American losses leading the way, a new analysis by Wood Mackenzie has found. Global upstream development spend overall this year has been knocked down by 30% from…

June 25, 2020
Amid Oilsands Scrutiny, Canadian Natural Exec Lauds ‘Impressive Results’ On Emissions Intensity in Alberta

Amid Oilsands Scrutiny, Canadian Natural Exec Lauds ‘Impressive Results’ On Emissions Intensity in Alberta

As Alberta oilsands producers face increasing scrutiny over the greenhouse gas (GHG) emissions intensity of their operations, Calgary-based Canadian Natural Resources Ltd. is leading efforts to make exploration and production (E&P) in the province more sustainable, management said Thursday.

March 6, 2020
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