Alberta
News
December 28, 2023
Crescent Point's production guidance has changed by 2,000 boed compared to its preliminary guidance, despite the recently announced non-core asset dispositions of approximately 5,000 boed.
News
November 30, 2023
The Canadian province, which holds the world鈥檚 third-largest crude reserves, is benefiting from higher oil prices supported by production cuts from OPEC+ countries including Saudi Arabia and Russia.
News
November 27, 2023
Alberta Premier Danielle Smith鈥檚 government said in a statement that Alberta, which relies on natural gas for the bulk of its power generation, is able to achieve a net-zero power grid by 2050 but the 2035 target would be 鈥渦naffordable, unreliable and unconstitutional鈥 and puts people at risk of 鈥渇reezing in the dark鈥 when temperatures drop as low as minus-23F.
News
October 23, 2023
Oil drillers have applied for 81 licenses to drill into the so-called Waseca formation so far this year, 30 more than in all of 2022. That鈥檚 the biggest increase in any oil and gas formation in the province this year, according to regulatory data.
News
August 15, 2023
The province, which relies on fossil fuels for 89% of its electricity, can achieve a net zero power grid by 2050, but the government鈥檚 timeline would be too costly and carry the risk of blackouts, Premier Danielle Smith said at a news conference on Monday.
News
August 01, 2023
Alberta鈥檚 total oil output dropped 21% to 2.71 MMbpd, the lowest since June 2016, when oil-sands producers were recovering from wildfires that shut about 1 MMbpd of capacity.
News
May 29, 2023
Taking full control of Surmont鈥檚 low-cost production helps ConocoPhillips Chief Executive Officer Ryan Lance meet a commitment to return $11 billion in cash to shareholders this year by letting the company generate free cash flow at even lower crude prices.
News
May 15, 2023
Pipestone Energy Corp. temporarily halted roughly 20,000 boed of output since Friday after blazes resurfaced close to some processing facilities the company relies on. It had restarted assets that were shut in response to a wave of fires in early May.
News
May 15, 2023
In 2016, wildfires tore through Aberta鈥檚 oil sands, shutting down more than 1 MMbbl of daily crude production and razing whole sections of Fort McMurray, the biggest city in the oil-sands region. This month鈥檚 blazes have largely spared the oil sands, but they鈥檝e hammered the province鈥檚 drought-stricken west, forcing the evacuation of as many as 30,000 people and curtailing natural gas production.
News
May 12, 2023
This acquisition aligns with Crescent Point's long-term strategy and enhances the company's portfolio by adding 600 high-return Montney locations, further extending its premium drilling inventory to 15 years.
News
May 08, 2023
The fires are affecting energy production in the region, which accounts for most of Canada鈥檚 hydrocarbon exports. One community under evacuation order as of Sunday was Fox Creek, a major center for light oil and gas drillers.
News
April 18, 2023
Located in northern Alberta, Fort Hills is Canada鈥檚 newest oil-sands mine. The site began operation about five years ago and produced about 164,000 bpd last year, AER data show.聽
News
March 28, 2023
The purchase will add 600 drilling locations and 38,000 boe of production. The cash acquisition 鈥 which will be financed through Crescent Point鈥檚 existing credit facilities 鈥 immediately adds to key per-share cash flow metrics, the company said.
News
March 06, 2023
Mike Nicholson, IPC's CEO, comments, 鈥淲e are very pleased to complete the acquisition of almost 16 MMboe of proved plus probable reserves adjacent to our existing Suffield area assets in Alberta."
News
February 22, 2023
Pathways Alliance members have awarded a $10 million contract to Wood, a global engineering and consulting company, to develop detailed plans for a 400-kilometre CO2 transportation line that will eventually link more than 20 oil sands facilities with a hub for permanent carbon storage in the Cold Lake, Alberta region.
News
February 06, 2023
The acquired assets have a forecast average net production of about 4,000 boepd for 2023. The acquisition also includes drilling locations close to IPC鈥檚 current operation areas in southern Alberta. 聽
News
January 30, 2023
TotalEnergies EP Canada Ltd acquired an additional 6.65% interest in the Fort Hills Energy Limited Partnership and associated sales and logistics agreements from Teck Resources Limited, for a consideration of $233.39 million.
Article
September 2022
The price is here. Drilling is up. But the outlook remains uncertain, as Canada wrestles with climate policies that do not align with the realities of demand, global markets, and security of supply.
News
September 13, 2022
Deltastream Energy Corp.鈥檚 gamble six years ago on drilling for oil in a heavily forested area of northern Alberta with no pipeline links paid off with a C$1.8 billion ($1.4 billion) return for investors, according to its chief executive officer.
News
May 17, 2022
Canada鈥檚 oil production could increase by 900,000 barrels a day to make up for supply losses from Russia鈥檚 war in Ukraine, according to the premier of the province of Alberta.
Article
February 2022
As the global economy recovers from the pandemic, indicators have shifted to a positive outlook for the first time in many years. But politics, especially in Canada, have cast a pall over any potential turnaround for the Canadian industry.