CALGARY — Baytex Energy Corp. reported record production and net income that beat analyst expectations Wednesday while signalling it will continue to expand rail shipments of its Alberta heavy oil.
Read more: http://tinyurl.com/ptjmqoj
Tag Archives: production
MEG Energy posts record oilsands production
CALGARY — A plan to complete a network of pipes, tanks, rail cars and river barges in concert with accelerating oilsands production is coming together at MEG Energy Corp., the company reported Thursday.
Read more: http://tinyurl.com/nqbewrv
The US Passes Saudi Arabia to become the World’s Largest Oil Producer
PIRA, a leader in worldwide energy market analysis, has recently announced that the US has finally surpassed Saudi Arabia as the largest oil producer in the world, after an explosion in the use of hydraulic fracking created the largest oil boom in nearly 40 years, only beaten by the production boom in Saudi Arabia between 1970 and 1974.
Read more: http://tinyurl.com/mopovdp
Oil sands crude not as expensive to produce as it used to be
CALGARY – Alberta’s oil sands, long regarded as an expensive sandbox for energy giants, are more competitive with global sources of crude than recent cost blowouts may lead investors to believe, a survey of 135 global oil and gas companies shows.
Read more: http://tinyurl.com/m2hg8y6
Creative Hub proposal hits another snag
The proposal for a Creative Hub that would encompass sound stages, digital production facilities and office space appears to be dead, with the province refusing to pony up the $13.2 million over three years being sought by project proponents.
Read more: http://tinyurl.com/krshezc
Driving Factors Behind Improvements in Water and Energy Production
When I started this article, the answer seemed clear. Shockwaves resounded as I drilled down on this rather complex subject. Judgment is tempered on the possibility of a misunderstanding of the data. Read on.
Read more: http://tinyurl.com/nuxll4t
Alberta oil production rose more than 10 per cent last year
EDMONTON – Overall production in the oilsands increased significantly in 2012, pushing Alberta’s oil reserves to the highest level since the 1960s.
Read more: http://tinyurl.com/dxjx4rx
CANADA: AN EMERGING ENERGY SUPER PRODUCER
Canada is getting into the Big leagues of Energy Production according the a recent report from the Fraser Institute.
In short, Canada has “pretty much vast untapped potential for Economic benefits to Canadians by continuing along this path of increased energy production and trade” says Ken Green of the Fraser Institute. According to this report, Canada is well on its way to becoming a Superproducer of energy with its vast new reserves of Oil from unconventional sources like the Oil Sands, new reserves of Natural Gas from Fracking shale reserves, as well as our existing supplies of power generated by Hydro Electricity.
Read more: http://tinyurl.com/a6heou2
Alberta forest firms report jump in production
EDMONTON – Alberta’s forestry industry is enjoying a bit of a boom, with the value of its production totalling $2.3 billion in 2012, up by $184 million — or about nine per cent — above 2011 levels, the Alberta Forest Products Association reported Wednesday.
Read more: http://tinyurl.com/cjhtw6k
Can Russia Maintain Current Oil Production Levels until 2020?
Uncertainty whether Russia can maintain its high level of oil production continues – 10.7 million b/d in 2012 to date on average. A new more benign tax regime that has recently been put in place and significant industry investments may plausibly enable the Russian Bear to extend its “plateau production” to 2020.
The post below outlines how this impressive achievement has been made possible, given that the decline of existing production is plausibly 6% or more every year for most old giant fields in West Siberia. In other words, the Russian oil industry needs to invest substantially in pushing more oil from existing fields (lowering decline rates) and new field developments to keep production steady.
Read more: http://tinyurl.com/bql9nap