Although the vast majority of oil and gas operators in Alberta pay their property taxes, there are a few that continue ignoring tax payment obligations, which is having a “significant impact” across the province, says Paul McLauchlin, president of the Rural Municipalities of Alberta (RMA).

Canada’s oil and gas producers are making progress reducing greenhouse gas emissions but reaching their net zero goals while maintaining financial stability is a long-term process that will require collaboration with technology developers, financial markets and governments, attendees at a Daily Oil Bulletin sponsored webinar heard.

Imperial Oil Limited’s ongoing initiatives include its non-thermal cyclic solvent process (CSP) that aims to reduce greenhouse-gas (GHG) intensity by 90 per cent, with no water required — an “exciting technology” for the company, says Simon Younger, senior vice-president, upstream.

Western Canada has seen significant M&A activity over the past 18 months, with over 180 mboe/d of production changing hands in 44 deals for a combined total of around $6.2 billion.

Cardinal Energy Ltd. has approved a marginal increase to its capital program for 2022.

Perpetual Energy Inc.'s board of directors has approved exploration and development capital spending of up to $28 million for 2022 to be fully funded from adjusted funds flow.

The energy industry is adapting to standards that require a lower carbon intensity for both on and off-grid power. Amongst many solutions, hydrogen (H2) has emerged as a transitional option for both economic and environmental considerations. 

Avanti Energy Inc. has successfully closed its previously announced bought deal public offering.

Validere has raised US$43 million (CA$55 million) in its Series B financing round.