A round up of the past month's key Canadian Energy industry
topics including Oil Sands, East Coast News, West Coaast News,
Emerging Issues can be found in full on the
FMC website, and is provided each month by FMC's
Oil Sands News
Suncor announced that it has resumed normal operations after
completing maintenance on Upgrader 2 at its oil sands
facility...MEG Energy began the year with its third-strongest
quarter on record, producing an average of 28,446 bpd in the first
quarter with a steam-to-oil ratio (SOR) of approximately
2.5...Following an outstanding performance with its ramp up of
Phase C at Christina Lake, Cenovus expects to be able to reduce the
ramp up time on future phases to between 6 to 12 months, rather
than the historical 12 to 18 months.
East Coast News
Husky's 2012 plans for White Rose and North Amethyst were
recently reported in its first quarter results, published on April
25, 2012...The province of Newfoundland and Labrador tabled its
provincial budget this month, and therein reported a surplus of
$776.4 million for the 2011/2012 fiscal year.
West Coast News
Kinder Morgan reported increasing demand for new oil storage
capacity as producers look to hedge production in favour of higher
prices a few months into the future...Crescent Point Energy is set
to acquire privately held Cutpick Energy for a purchase price of
Canadian Arctic News
Husky has successfully drilled and cased two pilot wells in the
Northwest Territories. The vertical wells were drilled on
exploration licenses acquired by the company in 2011...MGM Energy,
a Canadian energy company focused on the acquisition and
development of resources in Canada's Northwest Territories and
Arctic regions, is searching for a partner to assist in the
development of its Canol oil shale play.
Canada Solar, one of the world's largest solar panel
producers, expanded its portfolio by acquiring a major interest in
16 Ontario solar projects from SkyPower, a leading solar developer
in Canada...The Energy Minister of Manitoba made an announcement
this month that the Manitoba government was establishing a $30
million fund to assist local businesses remain competitive in the
renewable energy field.
On the Horizon
Kinder Morgan has launched a binding open season to determine
the level of interest in carrying condensates to Canada through its
reversed Cochin pipeline.
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