Canada upstream news

The combined company will be the largest Alberta Montney and Duvernay landholder, a prominent light oil producer in Saskatchewan and will leverage the combined asset base and technical expertise to drive improved profitability and superior returns to shareholders.

Prospera Energy (PEI) has announced it has acquired White Tundra Petroleum (WTP), with the aim of expanding its asset portfolio of low-decline base production with significant production upside.

Ovintiv Inc. has announced it has entered into a definitive purchase agreement to acquire certain Montney assets from Paramount Resources Ltd. in an all-cash transaction valued at approximately US$2.377 billion.

Epsilon Energy Ltd. has reported the signing of definitive agreements to form a joint venture in the Garrington and Harmattan areas of Alberta, Canada, in the Western Canadian Sedimentary Basin.

Chevron Canada Ltd has announced that it and a related entity have agreed to sell their interests in the Athabasca Oil Sands Project and the Duvernay shale to Canadian Natural Resources Ltd.

Worley has been awarded a field construction contract by Imperial Oil Resources Limited related to the in-pit tailings infrastructure project at the Kearl oil sands facility in Alberta, Canada.

Suncor Energy has announced that the Terra Nova floating, production, storage and offloading vessel has safely restarted following the completion of the Terra Nova asset life extension project.

The company has completed the sale of the entirety of the shares of TotalEnergies EP Canada Ltd. to Suncor, comprising its participation in the Fort Hills oil sands asset and associated midstream commitments.

The company has accepted the award by the State of Alaska Department of Natural Resources (DNR) for the 39 540 acres that it was the successful bidder of in last year’s state lease sale.

The S&P Global Commodity Insights has raised its 10-year production outlook for Canadian oil sands for first time in more than half decade.