Alberta Sets New Crude Oil Production Record for August; Inventory Cover Hits 15-Year Low

As reported by the Alberta Energy Regulator (AER), Alberta’s oil production was 4.0 MMb/d in August 2024 (rightmost stacked bars in chart below), a record for the month, 161 Mb/d higher than a year ago and the fifth time that the province’s oil output was at or better than 4 MMb/d.

It’s Game Time - LNG Canada Partners’ Gas Production Ramps Higher in August

RBN estimates that combined natural gas production of the equity partners in LNG Canada rose 0.22 Bcf/d in August to 2.06 Bcf/d (combined height of the rightmost colored bars in top chart below), 0.32 Bcf/d higher than a year ago and is the third highest combined output for the equity partners to

Canadian Drilling – Oil Rig Count Hits 19-Month High; Gas Rig Count Continues Downward Drift

For the week ending October 4, Baker Hughes reported that the Western Canadian gas-directed drilling rig count fell two to 63 (blue line in left hand chart below), nine less than one year ago and near a three-month low.

US Rig Count Continues Downward Trend To Begin October, Even As Gas Rigs Climb Back Past 100

US oil and gas rig count continued last week's downward trend falling to 585 for the week ending October 4, a decline of two. vs. a week ago according to Baker Hughes.

Tube Cracking Complicates Plans for Restart at Palisades Nuclear Plant

Inspections at the Palisades Nuclear Plant in Michigan found that its steam generator tubes had indications of stress cracking that “far exceeded estimates” based on the plant’s previous operating history, according to a report published October 2 by the Nuclear Regulatory Commission (NRC).

Gas Storage Surplus Continues Decline As Prompt Edges Higher

The Energy Information Administration (EIA) reported that a net 55 Bcf of natural gas was injected into storage for the week ended September 27 in the U.S. Lower 48. This was roughly in line with market expectations, as the nine predictions to the Bloomberg survey had a median of 57 Bcf.

BSEE Awards Contract for Deactivating Eight Orphaned GOM Pipelines

The Bureau of Safety and Environmental Enforcement (BSEE) awarded a contract for decommissioning eight orphaned pipelines in the Matagorda Island lease area, about 12 miles off the Texas coast. The BSEE is the regulatory authority for the Outer Continental Shelf (see Figure below).

Enbridge to Build Pipelines to Bring BP Kaskida's GOM Output to Shore

Enbridge will build $700 million of crude oil and natural gas pipelines in the Gulf of Mexico (GOM) to move production from BP’s Kaskida development to shore.

Summit Midstream Expands Gas Footprint with $450 Million Acquisition of Tall Oak Midstream III

Summit Midstream has agreed to acquire Tall Oak Midstream III, an affiliate of Tailwater Capital LLC, for a total consideration of approximately $450 million, comprised of both cash and equity. The transaction is expected to close in Q4 2024.

Trans Mountain Pipeline Set for Maintenance From Next Week

Trans Mountain Pipeline (TMP) will undergo unplanned maintenance from October 7 through November 30 to give temporary protection for an exposed segment at a crossing of a non-fish bearing stream, its operator said in a filing with the Canadian regulator.

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