Archive for the ‘Oil Sands’ Category
IHS Markit: Oil sands production to add nearly 500,000 b/d in 2017-18
June 15th, 2017 by Latest News
Nearly 500,000 b/d of Canadian oil sands production will be added in 2017-18, growth only exceeded by US tight oil, according to IHS Markit’s outlook for Canadian oil sands production through 2026.
Canadian Natural Resources Ltd., Calgary, reported first-quarter net
earnings of $245 million compared with a loss of $105 million in the
same quarter last year.
Cenovus signs $13.3-billion deal with ConocoPhillips for oil sands, other Canadian assets
March 30th, 2017 by Latest News
Cenovus Energy Inc., Calgary, has agreed to acquire ConocoPhillips’ 50% interest in the companies’ jointly owned Foster Creek Christina Lake (FCCL) oil sands partnership as well as the majority of the Houston independent’s Deep basin conventional assets in Alberta and British Columbia for $13.3 billion, including $10.6 billion in cash and 208 million Cenovus common shares valued at $2.7 billion.
Shell to divest nearly all of its Canadian oil sands interests for $7.25 billion
March 9th, 2017 by Latest News
Royal Dutch Shell PLC has agreed to sell all of its in-situ and
undeveloped oil sands interests in Canada and reduce its share in the
Athabasca Oil Sands Project (AOSP) to 10% from 60% in exchange for $7.25
billion.
Final investment decisions (FID) are expected to double globally in 2017 while exploration and production spending will increase for the first time since 2014, according to Wood Mackenzie Ltd.’s global upstream outlook.
Oil and economies
January 30th, 2017 by Latest News
President Donald Trump received illustrative background from Canada for an early statement of energy policy lacking details but not importance.
CNR plans increases in production, capex
December 19th, 2016 by Latest News
Canadian Natural Resources Ltd. (CNR), Calgary, said its overall production target for 2017 will range 833,000-883,000 boe/d compared with a 2016 average of 808,000 boe/d.
Athabasca Oil Corp. has agreed to buy the oil sands business of Statoil Canada Ltd.
Inter Pipeline Ltd., Calgary, plans to buy the 15% interest in Cold Lake Pipeline Ltd. held by Canadian Natural Resources Ltd. (CNRL). The transaction also includes purchase of CNRL’s 14.7% interest in Cold Lake LP.
Husky Energy Inc., Calgary, reported on plans to spend $2.6-2.7 billion (Can.) in capital expenditures in 2017, an increase over this year’s likely $2-billion tally.