In The News

Calgary Herald: Varcoe: 'A nation-building project' — As producers tout TMX, attention turns to LNG Canada's debut while gas output sets record
Thursday, 11/07/2024

November 1, 2024

Varcoe: 'A nation-building project' — As producers tout TMX, attention turns to LNG Canada's debut while gas output sets record

By Chris Varcoe

The Canadian oil and gas sector faces contrasting pressures: depressed natural gas markets and the positive impact of the Trans Mountain expansion (TMX). The TMX, which started this spring, is driving increased oil drilling, record production, and rising exports, while low gas prices are slowing gas well completions. Canadian Natural Resources reported record oil production of over one million...

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Canadian natural gas firms eager for LNG boom swamp market with excess supply
Monday, 10/28/2024

October 11, 2024

Canadian natural gas firms eager for LNG boom swamp market with excess supply

By Nia Williams

The LNG Canada terminal, led by Shell, is set to start exporting in 2025, creating new demand for Canadian natural gas. However, analysts suggest this may not significantly raise gas prices due to a backlog of supply. Current low prices have already led some producers to curtail production, as Alberta’s AECO gas prices hit a low recently. Companies like Canadian Natural Resources and Advantage Energy are...

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New Permian oil pipelines unlikely to be built, say top operators
Monday, 10/28/2024

October 25, 2024

New Permian oil pipelines unlikely to be built, say top operators

By Arathy Somasekhar

Top executives from two major U.S. pipeline companies (Jim Teague with Enterprise Products and Willie Chiang with Plains All America) announced that they won’t build new crude oil pipelines from the Permian shale field in Texas due to slow volume growth and construction challenges. Instead, companies are focusing on expanding or optimizing existing pipelines. Enterprise Products Partners and Plains All American...

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DOB Energy - WTI-WCS Diffs In A ‘Pretty Happy Place’ As The TMX Effect Takes Hold
Thursday, 09/26/2024

September 25, 2024

WTI-WCS Diffs In A ‘Pretty Happy Place’ As The TMX Effect Takes Hold

By Paul Wells

The spread between WTI and WCS has remained steady in the $13-$14 range, and this differential is expected to stay stable, according to Martin King from RBN Energy. The expansion of the Trans Mountain pipeline (TMX) is a key factor contributing to this stability. King noted that excess pipeline capacity out of Western Canada is helping the price spreads, especially for October and November. However, refinery...

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Reuters - Canadian natural gas prices fall to two-year low as storage fills
Thursday, 09/26/2024

September 23, 2024

Canadian natural gas prices fall to two-year low as storage fills

By Nia Williams

Canadian natural gas prices fell to their lowest in over two years on Monday, driven by near-full storage levels in Alberta and weak demand across North America. Prices at the AECO hub dropped to 5 Canadian cents per mmBtu, their lowest since August 2022. The mild winter of 2024 left Canada with excess supply, and now, with summer demand fading, storage levels are nearly full. RBN Energy's Martin King expects prices to remain low...

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