March 28, 2023
The purchase will add 600 drilling locations and 38,000 boe of production. The cash acquisition — which will be financed through Crescent Point’s existing credit facilities — immediately adds to key per-share cash flow metrics, the company said.
April 28, 2022
Whitecap Resources Inc., a Canadian conventional and shale driller, plans to increase natural gas activity in the second half of the year to capitalize on a surge in prices, Chief Executive Officer Grant Fagerheim said.
January 27, 2022
The combined shares of five of the largest oil sands companies have outpaced the broader S&P 500 Energy Index over the past three months. The 25% surge comes as U.S. crude oil prices approach $90 a barrel for the first time since 2014.
January 14, 2022
Canada is preparing to roll out a tax credit for investments in carbon capture, a key step to reduce greenhouse-gas emissions from its oil sands, and will soon outline its 2030 goals for pollution cuts.
January 13, 2022
Exxon and its majority-owned Imperial Oil Ltd. unit will start marketing XTO Energy Canada, which produces 9,000 barrels a day of crude and 140 million cubic feet a day of natural gas in the Montney and Duvernay shale formations of Alberta and other areas, Imperial said in a statement.
January 13, 2022
Canada will face challenges in retaining its status as a global oil and gas power in a world transitioning toward net zero carbon emissions by mid-century, the International Energy Agency said.
Although there are some hopeful signs that a recovery may be on the way for Canada’s oil patch, the ongoing global pandemic, misguided politicians, and skittish markets have left producers wary and risk-averse.
In an exclusive interview with World Oil Editor-in-Chief Kurt Abraham, ConocoPhillips Chief Technology Officer Greg Leveille discusses the technical issues facing global E&P, particularly as relates to the many U.S. unconventional plays
The winter drilling season in the diverse shale plays scattered throughout the western Canada sedimentary basin (WCSB), is shaping up to be the busiest in three years.
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.
A protracted pricing slump has led to massive budget cuts, thousands of layoffs and the most dismal market conditions that the Canadian industry has faced in more than 20 years. No positive news is on the horizon.
Perhaps the most significant, extensive changes in crude-by-rail transportation were made on May 1, 2015, by the U.S. Department of Transportation (DOT) and its agencies, the Federal Railroad Administration (FRA) and Pipeline and Hazardous Materials Safety Administration (PHMSA). The changes are contained in a “final rule” for “the safe transportation of flammable liquids by rail.”