Other Plays

Calgary-based Vermilion Energy Inc. has gained 120 square miles of natural gas-rich Montney Shale drilling rights with a C$477 million ($382 million) takeover of Leucrotta Exploration Inc. The acquired property package in northern Alberta and British Columbia was announced Monday.  Vermilion said the Leucrotta deal would enable more than doubling current combined natural gas and…

British company FMI Minecraft is working on a project to mine the cryptocurrency Bitcoin using natural gas from Argentina’s Vaca Muerta. The project would be in the Zapala free trade zone in the province of Neuquén and source gas from the Vaca Muerta, or ‘Dead Cow’ shale formation. “Vaca Muerta is great because there are…

Alberta oilsands specialist Meg Energy Corp. reported that it has retained a 20,000 b/d oil shipping contract on the incomplete expansion of the Trans Mountain Pipeline. Management confirmed its plans for capacity on the Trans Mountain Expansion Project (TMX), whose estimated construction cost has ballooned 70%, while reporting fourth quarter and full-year 2021 earnings. TMX…

Growing oil and natural gas volumes from the Montney and Duvernay formations, along with rising commodity prices, lifted Paramount Resources Ltd. back to black in 2021. The Calgary-based independent also expects to see higher production in 2022 following its recent acquisition in the Grande Prairie region. The new asset package in northwestern Alberta, near the…

Bakken Shale independents Whiting Petroleum Corp. and Oasis Petroleum Inc. have agreed to join forces in a “merger of equals” transaction, the companies said Monday. “The combined company will have a premier Williston Basin position with top tier assets across approximately 972,000 net acres, combined production of 167,800 boe/d, significant scale and enhanced free cash…

Chevron Corp. is piloting a project with Project Canary to independently certify some North American natural gas production in the Permian and Denver-Julesburg (DJ) basins. The pilot, using the TrustWell program, would differentiate operational and environmental performance from five well sites. The end goal is to deliver responsibly sourced gas (RSG) to market by mid-year.…

Houston-based Energy Transfer LP has agreed to sell its 51% stake in its Canadian arm for about C$1.6 billion ($1.3 billion) to a joint venture that includes Pembina Pipeline Corp. and global infrastructure funds managed by KKR. Energy Transfer Canada ULC is one of the largest natural gas processors in Alberta. Its assets include six…

PDC Energy Inc. said Monday it agreed to buy Denver-Julesburg (DJ) Basin operator Great Western Petroleum LLC in a $1.3 billion cash-and-stock deal that would “materially” boost its holdings in Colorado’s Wattenberg field. The Denver-based PDC said the deal, which includes $500 million in net debt, would be financed by issuing about four million shares…

Major U.S. onshore plays will add close to 500 MMcf/d of natural gas production from February to March on the strength of growth out of the Haynesville Shale and out of the Appalachian and Permian basins, according to updated modeling from the Energy Information Administration (EIA). In its latest Drilling Productivity Report (DPR), published Monday,…