Canadian E&P companies expand foreign ventures, says Doig report

Gary Park, Petroleum News Calgary correspondent

Canadian E&P companies logged hefty increases in their international production last year — up 64 percent for gas and 46 percent for oil, according to the annual report of Calgary analyst Ian Doig. The 190-page report shows 39 companies totaled 889,385 barrels per day of crude oil and liquids in 31 countries, while 22 companies had combined gas output of 1.04 billion cubic feet per day in 13 countries.

In total, 90 Canadian companies had land-holdings in 67 countries and last year they matched 32 percent of their domestic crude and liquids production and invested 13 percent of their capital budgets outside Canada.

Leading the Canadian companies with international crude and liquids production were Talisman Energy, Petro-Canada, Nexen, Hurricane Hydrocarbons (now PetroKazakhstan) and EnCana.

The largest gas producers were EnCana, Talisman, Petro-Canada, Nexen and Canadian Natural Resources.

Doig’s report details the activities of 142 E&P, pipeline, drilling and service companies with interests in 122 countries.