Canada's upstream on upswing; '09 drilling licenses down 47% 01/17/2010
With Canadian government land sales slumping to a 17-year low and average natural gas prices at their lowest point in the past decade, it was no surprise that cash-squeezed producers slashed their dri...

On the one hand, on... 12/20/2009
Husky, Nexen on opposite sides of cap-ex fence in Canada as analysts count on largest companies sticking close to '09 spending
As Canada's leading upstream companies start to unveil their 2010 capital spending programs, some appear more inclined to bide their time than others. Analysts doubt the budgets of major players will...

Testing big leagues with new technology 12/13/2009
Juniors bring talent to table, advancing 'next big thing' in Alberta oil sands by embarking on pilot projects in carbonate rocks
Investment banker Tristone Capital (now Macquarie Capital) observed last year that the Alberta oil sands region covers an area the size of Florida. Thus, it suggested, a chunk equivalent to Disneywor...

Husky makes oil strike in Newfoundland 12/06/2009
Husky Energy, currently the most active company in Atlantic Canada's offshore, has brought some cheer to an otherwise bleak exploration year in the region, disclosing a possible new source of oil just...

Rising from Canada's upstream EandP ashes 11/01/2009
2009 drilling heads for 17-year low; regulators see some turnaround in permit applications; CAPP expects modest upturn in spending
Amid the wreckage there are a few pieces of hope in Canada's upstream, mostly pointing to a partial recovery in 2010. With drilling currently headed for its lowest point in 17 years, regulators have s...

Fiscal climate in eastern Canada calm 10/11/2009
Area economy small, driven by large offshore projects; Repsol newest player; ConocoPhillips hunting rig, may face political issues
Eastern Canada is a region normally associated with high winds and high unemployment. Ironically, however, the fiscal climate there remains calm during this recession. In some parts of the region, rea...

Canada's offshore oil patch skirts storm 10/04/2009
Newfoundland, Labrador experiencing private sector growth in economic downturn, mostly due to offshore oil and gas investment
As a perfect economic storm batters global markets one hatch of the Canadian ship of state remains wide open to boom times. Newfoundland and Labrador - known across Canada as The Rock - is experiencin...

2 into 1 - a nonstarter; Kvisle scuttles idea of combined line 08/09/2009
It's a bit like the unwelcome party guest who just won't go home, no matter how direct the hints. Whenever the daunting costs of getting gas from the Arctic to southern markets surface, it doesn't tak...

Upgrading starts at home 08/02/2009
Alberta government invites proposals for bitumen-in-kind program to slow outflow of bitumen to U.S; strategy welcomed by some
Almost two years after unveiling the "framework" of its infamous new royalty regime, the Alberta government has delivered on one of its secondary proposals, which involves taking raw bitumen in kind r...

Slowdown's silver lining 07/26/2009
Outlook bullish for diversified oil sands' players, Moody's report concludes
What might have been the worst of times is turning into more of a blessing as the economic downturn steers the Alberta oil sands towards reduced front-end costs and benefits those with a diverse asset...

Dirt again rising at oil sands site 07/19/2009
Connacher Oil and Gas has resumed construction at a second steam-driven oil sands project in the Great Divide region of northeastern Alberta, seven months after suspending work because of slumping oil...

No easy route to Asia for oil sands 05/17/2009
Enbridge Northern Gateway project from northern Alberta to Kitimat, B.C., draws opposition from First Nations, conservationists
The closer Enbridge moves to placing an application for an Alberta-to-Asia link for oil sands production before Canadian regulators, the more resistance to the project seems to build. Its Northern Gat...

Winning the war is next 05/17/2009
Canada's industry turns to next growth cycle; CNQ calls for unified approach
A concerted push-back by Canada's petroleum industry against out-of-control costs from contractors, suppliers and labor is starting to yield results, along with a warning that the gains could easily b...

Husky breaks industry leash 05/10/2009
Husky Energy has marched to its own drummer for many years, ever since control of the company was taken over by Hong Kong's wealthiest man, Li Ka-shing. Once a big community participant in its head of...

UTS Energy victorious - for now 05/03/2009
Oil sands junior persuades shareholders to rebuff Total bid, but now must show it has a better plan; draws hope from reduced costs
Having successfully played the role of David in beating back Total, the French energy Goliath, Canadian-based UTS Energy has an even more daunting task ahead. It now has to prove to its shareholders,...

All is not quiet on the oil sands front 04/26/2009
Total's hostile bid for UTS seizes attention; unclear whether it is 'final and best' offer; host of other proponents gear up
The slowdown in Canadian oil sands activity shouldn't be mistaken for nothing taking place. While some companies take a breather to reconsider future moves, there's also a persistent buzz as the secto...

From tragedy to triumph 04/19/2009
StatoilHydro opens door to 2nd Newfoundland basin a month after 17 die in crash
What would otherwise have been a cause for celebration was confined to a subdued response, when Newfoundland recorded its first discovery in 20 years while the province is still grieving the loss of 1...

Pushing an Asian option 04/12/2009
Canadian industry, Alberta government seek alternative outlet for oil sands crude, prodded by concerns over U.S. climate change legislation
A push from the United States and a nudge from China have stirred fresh interest among those who believe it's vital to open up Asian markets for Canadian oil sands production. But the road to the Far...

Newfoundland gas beckons 03/29/2009
Government-industry discussions could result in royalty incentives; Labrador Sea viewed as stepping stone to Greenland, Arctic
At the same time it is mourning the loss of 17 rig workers and two air crew members in the North Atlantic crash of a helicopter, the Newfoundland government is quietly readying its offshore for the ne...

Newfoundland: Dealing with a tragedy 03/22/2009
Province reels from loss of 17 in helicopter ditching; pushes ahead with exploration; weighs initial gas project royalty holiday
It might have been a time of quiet celebration and a mood of hope for the future of Newfoundland's offshore oil and gas industry. Instead, it was the worst of all times, with the deaths of 17 rig work...

Spanish make landfall in Atlantic Canada 03/01/2009
It's not quite a Spanish Armada, but there's no longer any doubt that the Spaniards have made landfall in Atlantic Canada's oil and natural gas plays. Five days after EnCana reported its long-delayed...

Tiptoeing through a minefield 03/01/2009
Obama, Harper decide it's too early to walk the talk on climate-change measures, agree they need a joint approach for treaty talks
To bad Barack Obama didn't have an hour or two of free time during his Ottawa visit Feb. 19. He could have dropped in on the first Tar Sands Film Festival, which, no matter how long it lasts, is unli...

Telling it like it is 02/01/2009
Oil sands pioneer Suncor takes axe to spending program, freezes C$20.6B project
The Canadian petroleum industry may have passed the point where it will bother to camouflage how tough times are, with oil sands pioneer Suncor Energy making the most drastic disclosure yet. The world...

Canada enters shadows 01/18/2009
Rig fleet hits lowest activity since 1993; well permits drop 5.5% in 2007 from 2006; Alberta oil sands, natural gas hardest hit
The downturn in Canadian drilling is starting to register with the upstream sector operating at its lowest level in 16 years as low commodity prices, tight credit and Alberta's new royalties leave the...

Remember the good old days 01/04/2009
Canada's upstream players reel from 4th-quarter downturn, with capital spending forecast by Barclays Capital to drop 23% in 2009
Painful as it is to be reminded, financial results for the third quarter of Canada's upstream oil and gas sector have just been tallied. Even without knowing the numbers for the final quarter, the mel...