Scott's Feed
Dec 8, 2010

Canadian oil producers plagued by Enbridge woes

CALGARY, Alberta, Dec 8 (Reuters) – Canadian crude
producers struggled on Wednesday to cope with tight space on
Canadian pipelines as Enbridge Inc (ENB.TO: Quote, Profile, Research, Stock Buzz) works to cut a
backlog of crude waiting for shipment on key export lines.

Syncrude Canada Ltd, one of the biggest oil sands
producers, is delaying crude shipments to deal with the tight
pipeline space, the joint venture’s largest owner said.

Nov 29, 2010

Husky stays in Asia and sanctions Sunrise project

CALGARY, Alberta (Reuters) – Husky Energy Inc (HSE.TO: Quote, Profile, Research, Stock Buzz) set a new course on Monday as it canceled plans to spin off its Southeast Asian operations, gave the green light to a C$2.5 billion ($2.45 billion) Alberta oil sands project and looked to boost short-term growth by acquiring Canadian oil and gas properties for C$860 million.

Husky, Canada’s No. 3 oil producer and refiner, also said it will boost capital spending next year to C$4.86 billion, 20 percent more than it budgeted for 2010, and will issue C$1 billion in shares to shore up its balance sheet.

Nov 16, 2010

Nexen says Long Lake output to lag design

CALGARY, Alberta, Nov 16 (Reuters) – Nexen Inc (NXY.TO: Quote, Profile, Research, Stock Buzz)
shares fell nearly 4 percent on Tuesday after it said output at
its C$6.1 billion ($6 billion) Long Lake oil sands project will
remain below its design rate through 2011 as it continues to
work the bugs out of the project.

The company, Canada’s No. 5 independent oil producer, said
it expects Long Lake to produce between 38,000 and 45,000
barrels per day of bitumen next year, less than the 72,000 bpd
it is designed to produce.

Nov 4, 2010

Canadian Natural Resources profit beats estimates

CALGARY, Alberta, Nov 4 (Reuters) – Canadian Natural
Resources Ltd (CNQ.TO: Quote, Profile, Research, Stock Buzz), reported a higher than expected
third-quarter profit on Thursday and said it has launched the
first C$1.25 billion ($1.25 billion) phase of its Kirby oil
sands project.

The company, Canada’s No. 1 independent oil producer, said
it has given the go-ahead for the initial, 40,000 barrel per
day phase of the Kirby thermal oil sands project south of Fort
McMurray, Alberta.

Nov 2, 2010

Talisman profit jumps as shale gas focus pays off

CALGARY, Alberta, Nov 2 (Reuters) – Talisman Energy Inc
(TLM.TO: Quote, Profile, Research, Stock Buzz), Canada’s No. 4 independent oil producer, said on
Tuesday its third-quarter profit rose fourfold on higher
natural gas prices and rising output from its shale gas
prospects in North America.

Talisman said a lengthy restructuring to focus its North
American operations on prolific shale gas deposits is nearly
complete and production is set to climb as it wraps up the sale
of properties that don’t fit into its new operations.

Oct 27, 2010

At least 230 ducks die in latest Syncrude incident

CALGARY, Alberta, Oct 26 (Reuters) – About 230 ducks were
euthanized after they landed on a toxic waste pond owned by
Syncrude Canada Ltd, just three days after the oil sands
producer was fined C$3 million for a similar incident two years
ago that killed 1,600 waterfowl.

Syncrude said the birds landed on its Mildred Lake
tailings pond in the northern Alberta oil sands on Monday and
many had to be euthanized after coming into contact with
tar-like bitumen floating on the surface of the pond.

Oct 26, 2010

More ducks land on Syncrude Canada oil sands pond

CALGARY, Alberta, Oct 26 (Reuters) – More ducks have landed
on a toxic waste pond owned by Syncrude Canada Ltd, three days
after Syncrude was ordered to pay a C$3 million ($2.9 million)
penalty for a similar incident that killed 1,600 ducks and
helped fuel environmental opposition to Canada’s oil sands.

An unknown number of ducks landed on Syncrude’s Mildred
Lake settling basin in the northern Alberta oil sands on Monday
night, the province of Alberta’s environment department said on
Tuesday. Though the exact number of ducks isn’t known, Alberta
Environment said some of them were heavily oiled.

Oct 21, 2010

Precision Drilling expects busy winter season

Alberta, Oct 21 (Reuters) – Precision Drilling
Corp (PD.TO: Quote, Profile, Research, Stock Buzz), Canada’s largest oil- and gas-well drilling
company, said on Thursday robust oil prices and new shale-gas
discoveries will lead to a busy winter drilling season and high
demand for its rigs.

It made the forecast as it posted an 18 percent rise in
quarterly operating earnings.

Oct 1, 2010

Total ready to meet with Fort Hills partners

CALGARY, Alberta (Reuters) – Total SA (TOTF.PA: Quote, Profile, Research, Stock Buzz) closed its C$1.5 billion ($1.47 billion) purchase of Canada’s UTS Energy on Friday and expects to soon meet with its new partners in the Fort Hills oil sands project, the head of the French oil major’s Canadian unit said on Friday.

The purchase is Total’s latest move to boost its holdings in Canada’s oil sands and comes nearly two years after the company first bid for UTS in order to grab its 20 percent share in the undeveloped Fort Hills project.

Sep 26, 2010

Pipeline summer woes mask healthy prospects

CALGARY, Alberta, Sept 26 (Reuters) – Canada’s two major
pipeline companies did not have a good summer.

Enbridge Inc (ENB.TO: Quote, Profile, Research, Stock Buzz), which handles the lion’s share of
Canadian exports to the United States, had a series of pipeline
ruptures that cut into the flow of oil sands crude to thirsty
markets south of the border.

    • About Scott

      "Based in Calgary, Alberta, I've covered Canada's energy industry and the oil sands for the past five years for Reuters, and a decade before that for newspapers and other wire services."
    • Follow Scott