Canada

Business , Exploration & Production

Canada’s Crescent Point Forecasts Lower Output, Capex for 2021

Cuts come as other Canadian companies are restoring shut-in production.

December 4, 2020

Acquisitions & Divestitures , Trends , Mergers

Energy A&D Transactions from the Week of Dec. 2, 2020

Here’s a snapshot of recent energy deals including the closing of Southwestern Energy’s acquisition of Montage Resources plus the $44 billion all-stock merger of S&P Global and IHS Markit.

December 2, 2020

Investment , Acquisitions & Divestitures

BMO to Exit US Oil and Gas Investment Banking Business

BMO will wind down its investment and corporate energy banking units outside Canada to focus on the oil and gas business at home, where it sees better opportunities, a spokesman said in a statement.

December 1, 2020

Investment , Infrastructure , Construction , Pipelines

Will First Nation Investment Save KXL?

The $769 million deal with TC Energy Corp. took years and aims to unlock long-term wealth.

November 30, 2020

Pipelines

Enbridge Seeks to Block Michigan’s Move to Shut Down Line 5

Canadian pipeline operator Enbridge Inc. said on Nov. 24 it had filed a federal complaint in the U.S. District Court seeking an injunction to stop the State of Michigan from taking any steps to prevent the operation of Line 5.

November 25, 2020

Exploration & Production

Canadian Oil Output Seen Expanding Until 2039, Delaying Net-zero Goal

Fossil fuels will make up more than 60% of Canada’s fuel mix in 2050, even though domestic consumption likely peaked in 2019, the CER said.

November 24, 2020

Infrastructure , Construction , Pipelines

US Army Corps OKs Permits to Enbridge’s Line 3 Oil Pipeline Project

Final state permits and authorizations are still needed.

November 24, 2020

Exploration & Production , Joint Ventures

Suncor to Operate Syncrude Oil Sands by 2021

Suncor, as 58.74% owner of the Syncrude Joint Venture, said Nov. 23 that together with the other Syncrude joint venture owners—Imperial Oil Resources Ltd., CNOOC Oil Sands Canada and Sinopec Oil Sands Partnership—have agreed in principle for Suncor to become the operator of the Syncrude project by the end of 2021.

November 24, 2020

Business , Exploration & Production

Imperial Oil to Boost Spending, Slightly Raise Output

Imperial plans to spend C$1.2 billion ($917.01 million) in 2021, up 33% from 2020. Upstream production looks to rise 5% to 415,000 boe/d.

November 20, 2020

Investment , Construction , Pipelines

TC Energy, Natural Law Energy Sign Keystone XL Agreement

The deal provides an opportunity to invest up to $1 billion in Keystone XL pipeline.

November 17, 2020