Alberta Premier Ed Stelmach will declare natural gas drilling incentives Thursday as the industry struggles with depressed prices and increased shale gas development south of the border. For full story, click here
The slump in oil prices could end up cutting the growth in future oil supply in half from what would have been anticipated during the high price period, according to a study from Cambridge Energy Research Associates, an IHS company. CERA Senior Director Peter Jackson stated: The inventory of potential new oilfield developments, including fields [...]
Nippon Oil Corp. agreed to its biggest customers that the company will cut the prices of January-March deliveries of fuel oil by slightly more than 40 per cent from the previous quarter. For full story, click here
Canadian producers are receiving $20 a barrel or less for their heavy oil, according to some estimates, making it tough to cover costs, particularly when, like Connacher, they also need to buy natural gas to produce the steam that’s pumped into the ground to liquefy the bitumen. For full story, click here
The tar-like crude trades at a discount to lighter varieties. That wasn’t a problem in July, when benchmark oil prices climbed above $147 a barrel, but after prices slid by more than $100 a barrel in the months that followed, some heavy oil producers are beginning to feel squeezed. For full story, click here
Producing heavy oil in Canada, much of which comes from the big oil sands deposits of northern Alberta, is a tough business and it’s getting tougher. For full story, click here
Here’s the threshold below which production from the extra heavy oil sand in Canada would not give a satisfactory return on Investment. For full story, click here
The stock price of UTS Energy has fallen from about $6 in July to $0.87 and the company’s market-cap is recorded at $412M. For full story, click here
With the price of crude mired at half the peak of $147 it reached in July, this may seem like an odd time to invest in oil wells. For full story, click here
Energy firms are cutting back development of Canadian oil sands, the world’s biggest energy reserves outside Saudi Arabia, as crude prices plunge and processing costs become prohibitive. For full story, click here
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