Alberta ///

Canada’s E&P industry faces uphill struggle

Robert Curran, Contributing Editor

Rocked by the worst oil-price collapse in recent memory, Canadian operators are struggling to adapt to the new normal. The industry faces continued market access challenges, with much-needed pipelines bogged down by opposition.

Seven Generations buys Alberta shale assets in C$1.9 billion Paramount deal

Seven Generations Energy Ltd. agreed to buy assets in Alberta’s Montney shale play from Paramount Resources Ltd. as it presses ahead with an expansion during the industry’s worst downturn in decades.

Penn West concerned Alberta rule change will hinder asset sales

Penn West Petroleum Ltd. is concerned that a new rule on energy acquisitions in Alberta will affect its ability to find buyers for assets it plans to offload in the Canadian province.

Encana to sell Gordondale assets for C$625 million

Encana Corporation has reached an agreement to sell its Gordondale assets in northwestern Alberta to Birchcliff Energy for a total cash consideration of C$625 million ($490 million).

Alberta plans reentry to oil-sands town ravaged by wildfires

Canadians who fled the wildfire devastation in the oil-sands community of Fort McMurray can tentatively expect to return in a couple of weeks, while the blaze still rages elsewhere in the region and major production sites remain shut.

Alberta wildfires spread north, forcing evacuations from camps

Wildfires raging across northern Alberta shifted back toward oil-sands installations north of Fort McMurray, forcing the evacuation of thousands of workers who have been trying to get production restarted after fires curbed output by more than 1 MMbpd.

Murphy Oil Corp. closes Kaybob Duvernay and Placid Montney JV

Murphy Oil Corporation has announced that its Canadian subsidiary, Murphy Oil Company Ltd. (MOCL), closed the joint venture (JV) with affiliates of Athabasca Oil Corporation (Athabasca) that was previously announced on January 27, 2016.

Penn West closes sale of Slave Point, non-core assets

Penn West Petroleum has closed the sale of its properties in the Slave Point area of Northern Alberta for a cash consideration of approximately C$148 million, subject to closing adjustments.

Enerplus sells assets in northwest Alberta

Enerplus Corporation has entered into a definitive agreement to sell certain non-core assets located in northwest Alberta, including its Pouce Coupe asset.

Suncor completes Canadian Oil Sands acquisition

Suncor's acquisition of Canadian Oil Sands (COS) has been completed following shareholder approval of an amalgamation agreement at a special meeting of COS shareholders.

Penn West to sell Slave Point acreage in Alberta for C$148 million

Penn West Petroleum has entered into a definitive agreement for the sale of its properties in the Slave Point area of Northern Alberta for a cash consideration of C$148 million.

PSAC requests federal assistance for Alberta’s oil & gas service sector

The Petroleum Services Association of Canada (PSAC) recently presented a proposal to the federal government that will put oil and gas services companies back to work while benefitting the environment.

Oil industry relieved as Alberta holds royalties steady

Alberta's left-leaning government unveiled a new energy royalty framework on Friday that left rates unchanged on existing oil wells and oil sands projects, alleviating fears that costs would rise to punishing levels amid the worst crude price slump in decades.

Enerplus to sell certain Canadian natural gas assets

Enerplus Corporation has entered into agreements to sell various Canadian natural gas properties located in Alberta.

Condor Petroleum to acquire Marsa Energy

Condor Petroleum Inc. and Marsa Energy Inc. have announced that they have entered into an agreement that provides for the acquisition of Marsa by Condor, to create a well-capitalized company with significant exploration and development assets.

Suncor Energy extends Canadian Oil Sands offer

Suncor Energy has extended its offer to Canadian Oil Sands Limited shareholders.

Suncor may scrap $4.5-billion Canadian Oil Sands bid if offer delayed

Suncor Energy Inc. said it may scrap its $4.5 billion hostile bid for Canadian Oil Sands Ltd. if Alberta regulators endorse a poison pill that would give the target company more time to find other bidders.

Bankers Petroleum bags Hungarian exploration block

Bankers Petroleum has announced a successful bid, in the third Hungarian bid round, for the Püspökladány Block (Block "P"), within the Pannonian basin, in north eastern Hungary.

Oil sands companies demonstrate leadership on climate change

Four of Canada's largest oil sands producers have come together to demonstrate leadership on climate change.

Suncor plans higher spending of up to $5.5 billion next year

Suncor Energy Inc., Canada’s largest crude producer, plans to boost capital spending to as much as C$7.3 billion ($5.5 billion) next year to expand operations and increase efficiency.