Updated Aug 22, 2024
8/22/24
Calgary’s Whitecap Resources Inc. saw natural gas production jump from Western Canada’s Montney and Duvernay shale formations as well as from conventional assets in Alberta and Saskatchewan in the second quarter.
Western Canada-focused Pembina Gas Infrastructure Inc. (PGI) is aiming to expand its natural gas infrastructure in the Montney and Duvernay formations after securing a half-stake in Whitecap Resources Inc.’s 15-07 Kaybob Complex.
Natural gas development in Western Canada’s Montney and Duvernay formations is set to increase by double-digits in 2024 for Calgary’s Whitecap Resources Inc., as LNG opportunities begin to emerge.
Calgary-based Whitecap Resources Inc. has clinched a 1,020-square-mile northern Alberta spread of Montney and Duvernay assets held by ExxonMobil companies in an all-cash deal valued at C$1.9 billion ($1.5 billion).
Buoyed by strong commodity prices, Canadian independents Imperial Oil Ltd. and Whitecap Resources Inc. reported robust earnings for the first quarter and are prioritizing returning capital to shareholders.
Whitecap Resources Inc. scored a financial comeback in the first six months of this year while also taking steps to further reduce greenhouse gas (GHG) emissions.
Whitecap Resources Inc. increased its liquids-rich Montney Shale natural gas assets with a C$300 million ($240 million) takeover of private equity-backed Kicking Horse Oil & Gas Ltd.The acquisition includes ownership interests averaging 65% in 92 square miles of Montney production and future drilling targets in the Grande Prairie area of northwest Alberta.