Tag: CNRL
CNRL to boost Alberta oil sands production 50% in 2018
2018 production targeted between 1,090,000 BOE/d and 1,170,000 BOE/d Canadian Natural Resources Ltd. announced its 2018 budget, with a capital investment of $4.3 billion, $500 million less than 2017, and a 50 per cent increase in oil sands production, according to a press release. “Canadian Natural’s transition to a long life low decline asset base is […]
‘Innovating the innovation process’ focus of new oil sands partnership between industry, researchers, govt
Goal is to more quickly develop, implement new technologies that reduce environmental impacts A new partnership involving Canada’s largest oil sands producers is supporting research to “innovate the innovation process,” a move aimed at reducing the environmental impacts of the sector while improving long-term competitiveness, according to a press release. Researchers at the Ivey Business […]
Cenovus sells Pelican Lake oil sands assets to CNRL for nearly $1 billion
Cenovus also selling Palliser assets in southern Alberta Calgary-based oil sands giants Cenovus Energy Inc. and Canadian Natural resources entered into an agreement for Cenovus to sell its Pelican Lake heavy oil operations as well as other assets in northern Alberta, for $975 million. The properties have combined production of 19,600 BOE/d with the sale expected to […]
Are Alberta oil sands’ costs lower than American shale basins? You’ll be surprised
Alberta oil sands costs are $30-40/b, compared to $50 break even for most US shale producers The prevailing wisdom in Alberta is that Western Canada is one of the highest cost oil and gas basins in the world. Certainly far more costly than American shale basins like the Permian in West Texas, which is attracting […]
ABP leader Greg Clark pushing for Sturgeon Refinery ‘risk assessment’ after $800 million over-runs
“I believe this is a good recommendation and should underpin future policy steps the Alberta govt might consider” – economist Michal C. Moore For the second time in 18 months, Alberta Party Leader Greg Clark has asked the Alberta auditor general to review the financial risk to the Alberta government of its involvement with the Sturgeon […]
You’ll be SHOCKED (not really) by the real reason ConocoPhillips “fled” Alberta
Conoco’s sale of oil sands, natural gas assets to Cenovus motivated by business concerns, not policy A few weeks ago I wrote a column about how the purchase of $32 billion in oil sands assets by Cenovus and CNRL was a “great news” story for the Alberta energy sector, a real coming of age for […]
‘Fleeing oil sands capital’ story driven by Alberta politics, media – not reality
Buying oil sands assets for $32 billion total makes CNRL, Cenovus world class energy companies Cenovus buys ConocoPhillips oil sands assets for $17.7 billion Wednesday. Last week CNRL buys Shell and Marathon assets for $14.4 billion. Are super-major oil companies fleeing Rachel Notley’s NDP government or are the sales a sign of Alberta oil sands […]
CNRL sells Cold Lake pipeline stake for C$527.5 mln
Cold Lake pipeline sold to Inter Pipeline Ltd. CALGARY, Dec 12 (Reuters) – Canadian Natural Resources Ltd said on Monday it will sell its stake in the Cold Lake pipeline to Inter Pipeline Ltd for C$527.5 million in cash and stock, but will maintain access to the route to move its crude. Canadian Natural is […]
CNRL restarts deferred Kirby North oilsands project
Kirby North thermal project paused in 2015 By Nia Williams CALGARY, Alberta, Nov 3 (Reuters) – Canadian Natural Resources Ltd is reinitiating its Kirby North thermal project, the company said on Thursday, becoming the first oil sands producer to re-sanction a deferred major project since the global oil price slump began in 2014. The 40,000 […]
Alberta climate policy: Exxon subsidiary Imperial still mulling over plan
CNRL, Suncor, Cenovus, Shell on board with Alberta climate policy CALGARY _Prominent members of both Big Oil and the environmental movement have given their blessing to Alberta’s sweeping new climate change plan. But as remarkable as it was for the likes of both oilpatch billionaire Murray Edwards, Canadian Natural Resources Ltd.’s chairman, and former U.S. […]
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