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First—the good news. Although many oilsands developers are cutting their capital budgets, projects well under way will not only survive current and expected low oil prices but will also see their costs fall, say industry analysts.
The 2015 winter drilling season is over, and it’s been a bad one across the board for western Canadian service companies.
Crude-by-rail has emerged as a critical piece of the energy transportation landscape in North America, enabling meaningful growth in market access despite pipeline projects being stalled in the regulatory process. But the benefits of the opportunity don’t have to end with producers and rail operators: an Alberta government official sees a possible opportunity for market diversification for oilsands manufacturers, too.
In total, 19 producers managed to add 100 bcf or more of proved gas reserves through drilling in 2014, up from 14 producers the prior year.
The countdown is on for the oilsands industry’s first carbon capture and storage (CCS) project, a million tonnes of CO2 per year facility that is expected to start up later this year at Shell Canada’s Scotford Upgrader.
Matrix announces management appointments.
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This Month in Oilpatch History
It now appears quite possible that construction of the AlbertaWinnipeg leg of the proposed TransCanada natural gas transmission line will…
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