Liquids – Oil & Gas 360

Canada’s Largest Oil Producer Joins Opposition to Enbridge Pipeline Plan

August 27, 2019

From Reuters Canadian Natural Resources Ltd, the country’s biggest oil producer, has joined a number of other firms asking Canada’s energy regulator to intervene in Enbridge Inc’s plan to overhaul shipping contracts on its Mainline pipeline network. Canadian Natural’s letter to the National Energy Board (NEB), filed late on Monday, calls on the regulator to delay Enbridge’s proposal to switch

Canada Needs Higher Takeaway Capacity and Lower Oil Price Differential

March 22, 2018

Canada is hurting for takeaway capacity—the industry needs pipelines to take its oil and gas production to market, or more locomotive hauling capacity—or both. Cenovus Energy Inc. (ticker: CVE) said it has reduced production rates due to pipeline constraints and a lower price for Canada’s oil. Cenovus is storing excess barrels in its reservoirs due to wider than normal light-heavy

Advantage Oil & Gas Reports 2017 Profit of $95 Million

March 6, 2018

Advantage Oil & Gas Ltd. (ticker: AAV) reported a net income of $95 million for 2017, or $0.51 per share. The company said that the liquids rich wells at Wembley and Progress in Alberta contributed to this positive net income. In Q4 2017, net income was $21.4 million, or $0.12 per share. Making progress at Wembley, Valhalla and Progress Advantage’s

Denbury Resources Plans $300 Million 2018 CapEx

February 13, 2018

Denbury Resources Inc. (ticker: DNR) released its preliminary year-end 2017 proved reserves, production and capital expenditures, along with its 2018 capital budget and estimated annual production. Preliminary Q4 2017/annual production Denbury’s production averaged 61,144 BOEPD (97% oil) during the fourth quarter of 2017, with CO2 tertiary properties accounting for 65% of overall production. Denbury’s continuing production for full-year 2017 averaged

Valiant Midstream Adds Arteries to the Heart of the Arkoma Stack Play

February 8, 2018

Valiant Midstream LLC has begun construction on a natural gas gathering system and cryogenic gas processing plant in the heart of the Arkoma Stack play in southeast Oklahoma. According to the company, the system is expected to come online in multiple phases, starting in the second quarter of 2018. The initial system infrastructure will span Hughes, Coal and Atoka counties

Encana Q2: 25% Sequential Margin Growth from Q1

July 21, 2017

Encana Corp. (ticker: ECA) is one of the first E&Ps to report it second quarter results. ECA announced a growth of 25% in its margin from the first to the second quarter of 2017. Douglas Suttles, President and CEO of Encana, indicated that this was due to the increase in the fraction of oil and condensate in its production mix.

North America expected to export liquids starting 2021

North America = Net Exporter of Liquids by 2021: BP

April 11, 2016

Slowing demand and increasing production puts North America on track for net liquids exports BP (ticker: BP) released its 2016 Energy Outlook – Focus on North America today. In the repost it forecasts that increasing oil and gas production, mixed with lower demand in North America, will lead to net exports by 2021. Liquids consumption is expected to decline by

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