Western Canada

Tourmaline Cutting WCSB ‘24 Natural Gas Production Amid Low Prices, Remains ‘Super Constructive’ on ‘25

Tourmaline Cutting WCSB ‘24 Natural Gas Production Amid Low Prices, Remains ‘Super Constructive’ on ‘25

Tourmaline Oil Corp., the largest natural gas producer in Canada, is reducing 2024 natural gas production in the Western Canadian Sedimentary Basin (WCSB) by about 100 MMcf/d from previous guidance, or 4% essentially eliminating any gas growth in 2024, “and we definitely think that’s the right thing to do,” CEO Mike Rose said.  Tourmaline is…

March 13, 2024
‘Disappointed’ TC Energy Projecting 29% Cost Increase for Coastal GasLink Natural Gas Pipeline

‘Disappointed’ TC Energy Projecting 29% Cost Increase for Coastal GasLink Natural Gas Pipeline

TC Energy Corp. has again upwardly revised the expected cost of the Coastal GasLink (CGL) natural gas pipeline in Western Canada, citing challenges on multiple fronts. TC now expects the project to cost C$14.5 ($10.9 billion), up from C$11.2 billion ($8.4 billion) forecasted in its third-quarter 2022 earnings report. “The project continues to face material…

February 1, 2023
Tourmaline Contracting Natural Gas Flows from Western Canada to Gulf Coast

Tourmaline Contracting Natural Gas Flows from Western Canada to Gulf Coast

As the top natural gas producer in Canada, Tourmaline Oil Corp. flowed 2.2 Bcf/d throughout the third quarter of 2022, with next year’s output expected to average 2.5 Bcf/d. Natural gas exports to the United States played a starring role in the company’s growth, and long-distance trading results have earned an American regulatory trophy. The…

November 7, 2022
Arc Resources Expecting ‘Very Healthy’ Natural Gas Prices at AECO Through Winter

Arc Resources Expecting ‘Very Healthy’ Natural Gas Prices at AECO Through Winter

Montney Shale pure-play Arc Resources Ltd. is forecasting strengthened pricing at the NOVA/AECO hub in western Canada relative to the U.S. Henry Hub over the coming months, according to management. In a conference call to discuss third-quarter earnings, CFO Kris Bibby said “we are excited for the immediate near term in the winter. We would…

November 7, 2022
ExxonMobil Ready to Cast Off Natural Gas-Rich Assets in Montney, Duvernay

ExxonMobil Ready to Cast Off Natural Gas-Rich Assets in Montney, Duvernay

 A 1,020-square-mile spread of Canadian drilling rights in the Montney and Duvernay formations of Western Canada went on the market by ExxonMobil affiliates Wednesday in the latest property sales launched by integrated major. Seventy-percent owned Imperial Oil Ltd. and ExxonMobil Canada Ltd. are taking offers for their stakes in the parent company’s unconventional unit XTO…

January 13, 2022
TC Pipeline Expansions to Increase Western Canada Natural Gas Exports to U.S.

TC Pipeline Expansions to Increase Western Canada Natural Gas Exports to U.S.

Capacity additions underway in annual stages on three TC Energy Corp. pipeline subsidiaries are set to increase Canadian natural gas exports to California, Nevada, Oregon and Washington during 2022 and 2023. The coordinated expansions, a package titled West Path, pioneer a switch to quiet growth that TC President Francois Poirier outlined at a spring investment…

April 15, 2021