Montney formation
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The Calgary-based shale producer said it is on track to produce 200,000 BOE/D after making its second billion-dollar acquisition this year. -
Calgary's Strathcona Resources is adding 35,000 BOE/D in a deal that will boost its total output to 185,000 BOE/D.
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Enverus claims hundreds of millions of barrels of gas condensates are nowhere to be found in public data due to a major reporting gap.
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The Calgary-based shale producer said the deal involves at least 600 new well locations that will keep it drilling for the next 20 years.
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Whitecap enters into the liquids-rich Duvernay play, including 74,000 acres with more than 250 identified drilling locations.
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Tourmaline Oil Corp. said it has agreed to buy smaller Canadian producer Black Swan Energy.
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Profits are up as drilling is down in Canada’s Montney play where a merger this week highlighted the continued drive to increase profits, which are benefitting from rising natural gas prices.
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When a plug gets stuck in a well, consider the cause. Often stuck fracturing tools are a warning sign of casing trouble. Companies that have investigated plug problems have been surprised by the findings.
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The all-cash deal bucks a recent trend of international oil companies divesting of Canadian assets and adds 15,000 B/D of production to the buyer’s total.
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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.
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