Capitalizing on its no hedging strategy and a sustained high commodity price environment, natural gas-weighted Birchcliff Energy Ltd.’s top executive expects the company to be debt free by sometime in September and have a cash surplus of $260-$280 million by year-end.
The number of new Alberta natural gas wells placed on production in 2021 increased by 34 per cent year-over-year to 789 as strong prices and increased demand resulted in a solid growth in capital spending on natural gas and liquids-rich targets, says the Alberta Energy Regulator (AER).
The Alberta Energy Regulator (AER) says demand for diluents means pentanes-plus production is projected to grow over a forecast period to 2031, reaching a high of 483,000 bbls/d by 2031 as producers continue targeting the liquids-rich Montney, Upper Mannville and Duvernay formations.
The Alberta government’s Wednesday sale brought $13.67 million into government coffers.
Pipelines have a long history of successful operation due to strong standards around the design, construction, and integrity management of pipelines in Canada, and as such are much safer than any other form of transportation for hydrocarbons. In reviewing issues related to pipeline development, the idea that pipelines are inherently unsafe should be carefully considered as historical data does not support this position. Pipelines can be safely designed, constructed, and operated for decades without incident.
After winning three Innovation Awards in 2021 for its leadership in Clean Technology & Smart Connected Equipment, Edmonton-based Thermal Intelligence is excited to announce a new milestone for its BASECAMP product.
Saturn Oil & Gas Inc. has entered into an arm’s-length definitive agreement to acquire synergistic assets in the Viking area of west-central Saskatchewan for approximately $260 million.
An innovative geology project is underway to assess carbon capture and storage (CCS) potential in northeast British Columbia, which will help guide the province's rapidly growing low-carbon energy and CCS sectors.
NGIF Industry Grants, a division of NGIF Capital Corporation, announced Apex Utilities Inc. as a participating member to advance cleantech development and support innovation for the natural gas industry.
Natural Resources Minister Jonathan Wilkinson formally launched the first phase of the “Regional Energy and Resource Tables” as part of the federal government’s commitment to work with provinces, territories and other partners to take advantage of the economic opportunities presented by a low-carbon future, the federal government announced today.
Freehold Royalties Ltd. has appointed Sylvia Barnes and Valerie Mitchell to its board of directors.
Obsidian Energy Ltd. extended the revolving period in its syndicated credit facility to July 15, 2022, to accommodate timing associated with debt refinancing.