Cenovus Energy
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Offshore Eastern Canada is showing signs of life as new project commitments are firmed up and idled projects roar to life. -
In the search for leaks, more oil and gas companies are making the argument that ground-based inspections cannot compete with aerial surveys.
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The project partners and government came together to salvage the stalled East Canada offshore project now due to produce first oil in 2026.
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The decision comes after an environmental review showed that the floating production, storage, and offloading vessel-based development was unlikely to cause negative environmental effects.
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The Canadian oil company consolidation formula looks a lot like the one offered by US shale producers.
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So many unprecedented changes have occurred in the Canadian oil business that it is impossible to compare the current downturn to anything seen before.
