On July 6 the Premiers of Alberta and Ontario’s provincial governments unveiled a potential route for a new 3,300 km (2,050-mile) crude oil pipeline from Hardisty, AB to Sarnia, ON that would pass through Northern Ontario.
On Thursday July 2 the Government of Canada, along Alberta’s provincial government, announced a proposal for a heavy crude oil pipeline capable of transporting more than 1 MMb/d from Bruderheim, AB (near Edmonton) to a deepwater port at Roberts Bank just south of Vancouver, BC (see map below).
This morning Pembina Pipeline Corporation announced a positive Final Investment Decision (FID) on the Greenlight Electricity Centre (GLEC), a 932 MW gas-fired combined cycle power generation facility to be located within Alberta’s Industrial Heartland in Sturgeon County near Edmonton.
Alberta crude oil and condensate production for May averaged 4.31 MMb/d, down 180 Mb/d vs. April, but up 387 Mb/d year-over-year, according to data released by the Alberta Energy Regulator this week.
Alberta crude oil and condensate production for April was little changed from March, declining by only 22 Mb/d to average 4.492 MMb/d, and was up 162 Mb/d year-over-year, according to monthly data released by the Alberta Energy Regulator on May 29.
Shell’s plan to acquire Western Canadian E&P ARC Resources Ltd. affirms the global energy giant’s new strategic focus, enhances the prospects for Phase 2 of LNG Canada, and supports the view that the Montney Shale may be replacing the Permian as the epicenter of oil and gas M&A.
End markets for Canadian crude oil have evolved as production and export capacity have grown, especially in the past few years. Today, we dig into the data to see where Western Canadian Sedimentary Basin crude oil supply goes, how it gets there, and how those destination markets have evolved.
Canadian crude oil production has reached highs and is expected to continue growing. But, in an area where steep price discounts have been a frequent problem, and in a world that is seemingly awash in crude, what does that mean for Canadian producers, and how will all this supply get to market?
A subsidiary of Bridger Pipeline is planning a 36-inch-diameter crude oil pipeline that would move up to 550 Mb/d of Canadian barrels 645 miles from the U.S.-Canada border to Guernsey, WY. The idea is to push crude south via existing rights-of-way, possibly reviving parts of Keystone XL in Alberta.
Ovintiv, one of Western Canada’s largest natural gas and condensate producers, has upped its Montney position with a takeover of rival NuVista Energy, continuing the recent consolidation trend.
