At the same time that supply projections go up in Canada’s chief natural gas-producing province, the demand side of the Alberta market is going on a diet. Weaning plants partly or entirely off gas is a feature of all the latest entries into the lineup of oilsands projects, the biggest and fastest-growing element of industrial fuel demand in Alberta, and also all Canada.
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BP Says 3Q Production Up Despite Ivan Impact
BP plc’s third quarter oil and natural gas production is up 11% from the same period a year ago, but lower sequentially from the second quarter because of annual facilities maintenance and shut-ins from Hurricane Ivan, the company said last week. The London-based major, which is scheduled to report 3Q earnings on Oct. 26, still expects average production for 2004 to meet a previous target of at least 4 MMboe/d.
BP Says 3Q Production Up Despite Ivan Impact
BP plc’s third quarter oil and natural gas production is up 11% from the same period a year ago, but lower sequentially from the second quarter because of annual facilities maintenance and shut-ins from Hurricane Ivan, the company said Monday. The London-based major, which is scheduled to report 3Q earnings on Oct. 26, still expects average production for 2004 to meet a previous target of at least 4 MMboe/d.
Weekend Market Fails to Break Week’s Losing Trend
Prices exited last week in much the same fashion they had spent the previous four days: falling at nearly all points, with a few scattered flat numbers thrown into the mix. Friday’s softness was anticipated because of generally weak cooling load outside the Southwest, a bearish storage report Thursday and the lack of any viable tropical storm threats to offshore production.
East Mixed While OFO-Free West Surges Higher
The June aftermarket was launched Friday with major uprisings in the West arrayed against a mixed but mostly moderately softer performance at eastern points. Because deals were being done for Tuesday-only flows due to the May-ending holiday weekend, the dropoff in industrial demand typically associated with a weekend was not a negative factor.
Leading Independents Continue Increasing Exploration, Development Spending
A survey of 31 of the most aggressively-drilling U.S. independents showed a 34% increase in exploration and development (E&D) spending in 2003 at the same time those companies were experiencing a 69% increase in total cash flow, according to Raymond James & Associates.
Leading Independents Continue Increasing Exploration, Development Spending
A survey of 31 of the most aggressively-drilling U.S. independents showed a 34% increase in exploration and development (E&D) spending in 2003 at the same time those companies were experiencing a 69% increase in total cash flow, according to Raymond James & Associates.
Two Ruptures Shut Down 36-inch Nova Pipeline in Northern Alberta
Two line breaks in the same pipe 15 kilometers apart on a remote section of TransCanada PipeLine’s Nova system Monday and Tuesday have shut down the 36-inch pipeline, impacting a number of customers. There were no reports of injuries in the resulting fires.
Swift Sets Quarterly Production Record, Improves Net Income 263%
Houston-based Swift Energy Co. increased its third quarter production 12% over the same period a year ago, and set a quarterly production record, with 13.6 Bcfe, which included 8.7 Bcfe domestically and 4.9 Bcfe for production in New Zealand. The independent also was up 3% sequentially from the second quarter.
Publishers, Producers See Improvement in Natural Gas Price Surveys
Participation in natural gas price surveys is increasing, price publishers told FERC staff Tuesday, at the same time companies reported there is much less complaining from traders about the results of the surveys.