LNG Canada didn’t load its first cargo until June 2025, more than nine years after Sabine Pass LNG was up and running in Louisiana. But while the U.S. Gulf Coast had a big head start, Canada is finally firing on all cylinders, with plans to more than triple its LNG export capacity by the early 2030s.
In Western Canada, the gas-directed rig count rose by 2 to 65 rigs, while the oil-directed rig count fell by 6 to 142 rigs, for the week ended August 7, according to Baker Hughes data.
The quarter was a pivotal one for Keyera, as it closed the CAD$4.6 billion purchase of Plains’ Canadian NGLs business, and the CAD$1.2 billion purchase of the other 50% of KAPS from Stonepeak.
South Bow disclosed that the Prairie Connector open season garnered 465 Mb/d of 20-year, firm service binding commitments from Hardisty, AB to U.S. delivery points, from nine customers. The volume commitment is basically in line with the rumored number circulating in media reports last quarter.
The key themes of Suncor’s Q2 results and earnings call were continued improvement in refined products performance and maintenance turnaround efficiencies, record precipitation impacting mined production, and record financial performance.
Pembina’s second quarter earnings call and press release underscored the company’s strong positioning to reap the benefits of anticipated growth in Western Canadian crude oil and natural gas production, which seem to be gaining momentum in recent months with several announcements regarding new ca
The highlight of Imperial Oil’s second quarter conference call on July 31 was the CEO touting the company’s potential to double its operated production, which is almost entirely from the Alberta oil sands, if there is a supportive fiscal and regulatory framework.
Alberta crude oil and condensate production for June averaged 4.49 MMb/d, up 173 Mb/d vs. May, and up 127 Mb/d year-over-year, according to data released by the Alberta Energy Regulator this week (see red dots in chart below).
Cenovus saw record oil sands production of 784 Mb/d in the second quarter, up 9 Mb/d compared to the first quarter, despite some planned downtime in Q2, according to the company’s quarterly report and conference call on July 29th.
In Western Canada, the gas-directed rig count rose by 1 to 63 rigs, while the oil-directed rig count gained 13 to 148 rigs, for the week ended July 31, according to Baker Hughes data.
