Canada upstream news

The assets include the 108 000 bpd Jackfish oilsands project, which comprises about 88% of the valuation.

TransGlobe Energy Corporation has announced the approval of a new development lease and an operations update.

Torngat 3D will cover approximately 3287 km2 and encompasses sections of the open acreage included in the Labrador South November 2021 bid round.

The new Northern Cascadia Subduction Zone Observatory (NCSZO) will use a “seafloor GPS” network to monitor long-term movements of the subducting Juan de Fuca plate and overriding North American tectonic plate.

The projects are expected to commence early June 2019.

Canadian Oil Sands production in 2019 will be almost 230 000 bpd lower than last year, according to ESAI Energy’s recently published North America Watch.

The report says that planned Canadian oil sands projects are being pushed back in response to further delays in pipeline egress and the mandated output cuts by the Alberta provincial government.

However, chronic midstream infrastructure bottlenecks and low price environment can limit the progress of the oil and gas industry, says GlobalData.

The company has announced that it has entered into a share option agreement with its joint venture partner, Grupo IDESA, S.A de C.V.

Declines in emissions intensity – already down by a fifth over the last 10 years – are expected to continue.