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.
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.
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.
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.
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.
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.
Infrastructure , Construction , Pipelines
US Army Corps OKs Permits to Enbridge’s Line 3 Oil Pipeline Project
Final state permits and authorizations are still needed.
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.
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.
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.