Oil Sands Environmental Impact Alleviated With Greater Greenhouse Gas Emissions Control
Alberta’s Oil Sands operators are beginning to take a greater level of control over greenhouse gas (GHG) emissions in their projects as environmental impact and cost savings become higher priorities, according to the latest available government data from the province analysed by CanOils. Whilst GHG emissions from Alberta’s oil sands projects did rise by 4% .. read more
Deals of the Week: Chevron Enters New Partnership in Canadian Atlantic with Repsol and Statoil
After the extremely busy start to 2012 last week, M&A activity slowed down considerably this week, with only a few deals breaking $100 million. Three major companies joined forces in one of the most significant deals of the week, as Chevron, Repsol and Statoil continued their Newfoundland partnership in the Orphan Basin exploration block EL .. read more
Deals of the Week: Total and Sinopec Make US Shale Moves as New Year Begins
US Shale was the big M&A headline-maker in 2011, and 2012 has started on the same track. Sinopec and Total were both involved in big money deals this week, spending a combined total of around $4.5 billion to enter emerging plays. Sinopec, one of 2011’s most active companies in the E&P acquisitions market, will be .. read more
Oil Sands Crown Sales Fall Out of Favour
Average price per hectare of Alberta oil sands crown land sales has fallen by 11% over the past 4 years. On a regional basis Athabasca fell by an average 31%, Cold Lake 2% and despite a price fall in 2011, Peace River still rose by 1% over the period. This is according to data sourced .. read more
Deals of the Week: Arrow Adds New String to its CBM Bow
Arrow Energy has made a bid for Queensland-based Bow Energy in what was by far the biggest deal of another quiet week of oil and gas deals. Arrow, a 50/50 joint venture between Royal Dutch Shell and PetroChina, aims to add Bow to its portfolio for a total of around US$658m, based on shares outstanding as of June 30. Bow’s .. read more
Capital Spending Reaches New Peak for Canadian Oil & Gas Companies
Canadian oil & gas companies are planning to spend 19% more in 2011 than they did in 2010 according to a new analysis by CanOils. At Cdn $53.5 billion, that’s the highest annual level of recent times – topping even the bumper year of 2008. At the beginning of 2011, companies said they would invest .. read more
Oil Sands Producers Cut CO2 Emissions
Canadian oil sands producers cut their carbon dioxide equivalent emissions (CO2e) per barrel produced in 2009, according to an exclusive CanOils analysis of newly-released official data. Integrated producers (companies that both produce and upgrade bitumen) emitted an average of 123 kg of CO2e emissions per barrel of syncrude produced in 2009 against 150 kg in .. read more
Canoils Oil Sands Analysis Reveals Some Big Differences in Project Performance
All oil sands projects are not created equal, with some big differences in project efficiencies and profitability, according to an in-depth analysis based on Canoils oil sands service. However, despite much lower benchmark crude prices and higher royalty rates kicking in for some projects, leading oils sands players are today managing to sustain healthy netbacks .. read more
How long does it take for approval to construct and operate an oil sands project?
667 days on average according to CanOils’ new oil sands tracking feature. The Energy Resources Conservation Board (ERCB) is the provincial governing body in charge of regulatory approval for Alberta, where the vast majority of Canadian oil sands reserves lie. CanOils has sourced all regulatory applications in combination with their corresponding approvals, to establish an .. read more
Canadian Spending Focus Shifts to Growth
A massive change in focus away from balance sheet repair and towards growth and acquisition is underway among Canadian oil and gas companies, according to a CanOils analysis of the latest oil and gas financings in the Canadian capital market. More than 2/3rds of equity financings are currently being used for acquisition or exploration and .. read more