Following a year that saw significant increases in cash flow generated across the North American upstream industry, many Canadian and U.S. producers have set larger capital spending budgets for 2022.
MEG Energy Corp. achieved record bitumen production of 101,128 bbls/d during the first three months of 2022, which is up 11 per cent from the same timeframe last year, with increased steam utilization and ongoing optimization and recompletion work contributing to strong field-wide production performance.
Last month, the federal government announced an investment tax credit for carbon capture, utilization and storage (CCUS) projects in Canada. According to MEG Energy Corp.’s Q1 financial and operational results, this announcement is a positive step in the Oilsands Pathways to Net Zero Alliance’s efforts to work collaboratively with governments to help Canada achieve its climate goals, with support from the Alberta government.
MEG Energy Corp. is “definitely seeing inflationary pressures” as management continues to monitor the inflation situation closely, says chief operating officer Darlene Gates.
The location and carbon emissions mitigation of a proposed project in offshore Newfoundland and Labrador give it a competitive advantage with European markets, says the chief executive officer behind it.
Q1 upstream deal activity was dominated by private U.S. companies selling assets acquired during the Covid downturn.
Aldon Oils Ltd. (“Aldon” or the “Company”) has engaged Sayer Energy Advisors to assist it with the sale of certain non-core oil and associated natural gas interests located in the Bemersyde, Huntoon, Midale, Midale North and Weyburn areas of southeastern Saskatchewan (the “Properties”).
STARS would like to recognize the incredible contributions of the Petroleum Services Association of Canada (PSAC) and the 2022 PSAC STARS & Spurs Live Industry Auction & Gala committee.
Tero Consulting, a leader in computerized maintenance management systems (CMMS) for more than four decades, announced today that their AZZIER iOS Mobile App has won Engineering Magazine’s prestigious Product of the Year Silver Award for new products in manufacturing industries.
TC Energy Corporation recently responded to an incident about 80 kilometres west of Fox Creek on the NOVA Gas Transmission Ltd. System.
After a “stellar 2021” in which Kearl set new production records in nine out of 12 months, Imperial Oil Limited encountered “some challenges” in Q1 related primarily to extreme cold weather conditions and some unplanned downtime, says president and CEO Brad Corson.
In terms of Precision Drilling Corporation’s U.S. basin mix for 2022 rig additions, those would probably be more focused towards oil targets and the Permian, says Kevin Neveu, president and chief executive officer.
Today’s energy companies need accurate and meaningful data to heighten insight and improve awareness to enable better decision making.
The Western Canada: At the Heart of CCUS presentation and panel discussion will provide an up-to-date perspective on Western Canada's CCUS landscape from a regulatory, economic, and technical perspective.
Alberta’s largest research and innovation agency has added a new executive position to its clean technology arm.josh
Baytex Energy Corp. is on track for a debt level in early 2023 that will deliver the company additional routes for shareholder returns.
High commodity prices, combined with increased throughput at Gibson Energy Inc.’s liquids infrastructure business and improved performance at its marketing business resulted in higher revenue and earnings in the first quarter of 2022, the company reported this morning.
Calfrac Well Services Ltd. reported increases in both fracturing jobs and fracturing revenue in Canada over the first quarter of this year.
Imperial Oil Limited announced today the terms of its substantial issuer bid pursuant to which the company will offer to purchase for cancellation up to $2.5 billion of its common shares.
Athabasca Oil Corporation planning to utilize 100 per cent of near‐term free cash flow to reduce its term debt and is anticipating being in a net cash position by year end 2022 at current commodity prices.
Avanti Energy Inc. has been granted three helium exploration permits from the Government of Saskatchewan for a total of 63,000 acres.
CNOOC Limited’s Mero 1 project has commenced production safely.