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 […]
CNRL to boost Alberta oil sands production 50% in 2018 Read More »
Crude oil largest contributor to energy imports into Canada Energy imports and exports are important and growing components of Canada’s international trade, according to a market snapshot from the National Energy Board. Although Canada exports far more energy than it imports, it still imports a considerable amount. As shown in the figure below, quarterly energy imports have
Canadian energy imports growing again, oil biggest import – NEB Read More »
Report found value of wood product exports increased by 19.2% According to the BC Check-Up, an annual economic report released by the Chartered Professional Accountants of British Columbia (CPABC), B.C.’s exports to international markets increased by 8.6 per cent to reach $39.0 billion in 2016. The increase in export values was largely led by a
Energy exports up 28% to lead BC trade in 2016 Read More »
Over 70 Permian Basin plays production corrected Energy researchers at IHS Markit have completed the first, three-year phase of a massive Permian Basin research project that models and interprets the giant basin’s key geologic characteristics. It was done to better estimate Permian’s remaining hydrocarbon potential, and initial results indicate the giant basin still holds an
New research shows Permian Basin with 60 to 70 billion barrels remaining Read More »
Tax rate on electricity reduced to 3.5% from 7% The BC government announced effective April 1, 2018, the carbon tax rates are increased by $5 per tonne of carbon dioxide equivalent emissions until April 1, 2021 and rates are $50 per tonne, according to a press release. Also announced was that the tax rate on
British Columbia to raise carbon tax by $5 annually, will be $50 a tonne by 2021 Read More »
Growing well completion figures could lead to increase in U.S. oil production API today announced that estimated total wells drilled and completed in the second quarter of 2017 increased 62 per cent compared to the second quarter of 2016, according to a press release. This includes a 41 per cent increase in estimated development gas
US oil and gas drilling sees 62% increase over 2016 levels Read More »
Pennsylvania production was roughly 378.9% less natural gas than 2016 By Nicole Jacobs, EnergyInDepth The Pennsylvania Department of Environmental Protection (DEP) released its annual oil and gas report this week, and it is chock full of great news for the Commonwealth. Not only is production skyrocketing despite a decrease in new shale well permits, the
Report shows Marcellus production skyrocketing despite fewer wells Read More »
Price differentials can be important in shale plays such as Eagle Ford which have both liquids-rich and gas-rich areas By John Kemp LONDON (Reuters) – US oil production forecasts for 2017 and 2018 have been boosted significantly as a result of rising prices as well as improved modelling techniques for predicting output down to the well level. Crude production
US oil production forecasts revised higher: Kemp Read More »
97 companies that have announced 2017 production guidance thus far expect to produce combined 1.2 million boe/d more than 2016 As the price of oil creeps up, are upstream companies primed to ramp up activity? In Wood Mackenzie’s latest corporate upstream report, their analysts share how the guidance issued during Q4 reporting season has shaped the outlook
Upstream companies to spend US$25 billion more in 2017 Read More »
Utica Shale development here to stay, more than 80 per cent of Ohio voters supported increasing development By Jackie Stewart, EnergyInDepth The Ohio Department of Natural Resources (ODNR) released third quarter production totals for Ohio’s Utica shale wells on Friday, and the numbers show that Ohio’s shale gas production continues to surge. Natural gas production
Utica shale natural gas production rises again in Q3 Read More »
