Factbox: Some Canadian oil and gas producers re-curtail output as wildfires persist

Paramount Resources (Pre-Merger)

18/05/2023 20:29

(Updates Whitecap Resources)
       May 18 (Reuters) - Some oil and gas companies in
Canada's main crude-producing province Alberta were forced to
re-curtail output as record-high temperatures and tinder-dry
vegetation led to an intense, early start to wildfire season in
western Canada this year.
    At one point the fires pushed more than 30,000 people out of
their homes while oil and gas producers shut in at least 319,000
barrels of oil equivalent per day (boepd), or 3.7% of national
production.
    
    Following are the latest from Canadian energy companies:
    
    ** Whitecap Resources Inc  WCP.TO  
    The company said about 26,000 boepd is shut-in, and over the
last two weeks it has fluctuated between 12,000 boepd and 40,000
boepd shut-in at any given time.
    
    ** Pipestone Energy Corp  PIPE.TO 
    The Calgary-based energy company said that about 20,000
boepd of production has been temporarily curtailed since the
evening of May 12.
    
    ** Razor Energy Corp  RZE.V  
    The company said that it has shut its operated and
non-operated production of about 2,500 boepd in Kaybob and Swan
Hills areas.
    
    ** Crescent Point Energy Corp  CPG.TO 
    The company said it has shut-in its Kaybob Duvernay
production due to the ongoing wildfires. 
    A portion of this production was reactivated last week,
however, Crescent Point is temporarily shutting back-in the
remainder of its 45,000 boepd of production in the area as a
precautionary measure.
    
    ** Baytex Energy Corp  BTE.TO 
    Baytex said ongoing wildfires are impacting its operations
in the Peace River and Peavine regions of northwest Alberta.
    About 20,000 boepd of production has been shut-in since the
morning of May 13. In addition, in west-central Alberta,
approximately 4,000 boepd remains shut-in since the evening of
May 5 as a result of the shut-in of third-party infrastructure.
    
    ** Obsidian Energy Ltd  OBE.TO 
    Obsidian said it took the Peace River area fields at Seal,
Walrus and Nampa offline on May 12 and shut-in the Peace River
Harmon Valley South field on May 14.  
    The Harmon Valley South field was being restarted. The
company added that about 1,200 boepd of production in Peace
River would remain temporarily curtailed until the remaining
wildfire threat had subsided.
    
    ** Athabasca Oil Corp  ATH.TO 
    The company said it had shut-in two of its facilities at
Kaybob and added it estimated about 2,300 boepd of temporary
production downtime.
    
    ** Cenovus Energy Inc  CVE.TO  
    Cenovus said about 85,000 boepd of production, primarily dry
gas, had been impacted in the company's Rainbow Lake,
Kaybob-Edson, Elmworth-Wapiti and Clearwater operating areas.
    
    ** Paramount Resources Ltd  POU.TO  
     Paramount said a third-party gas processing plant and some
Paramount fields were shut due to the fires, and it had
curtailed 45,000 boepd.
    
    ** NuVista Energy Ltd  NVA.TO  
    The company said it had temporarily shut in and depressured
all operations proximal to the ongoing fires in the Grande
Prairie region. The temporary production impact is about 40,000
boepd.
    
    ** Vermilion Energy Inc  VET.TO 
    Vermilion said it had restored about 60% of the 30,000 boepd
of production that was temporarily shut-in.
    As a result of production being offline, the Canadian energy
producer expects second-quarter production to average 80,000
boepd to 83,000 boepd, compared with a previous forecast of
84,000 boepd to 86,000 boepd.
    
    ** Peyto Exploration & Development Corp  PEY.TO  
    The oil and gas producer said its second-quarter production
would see a reduction between 1,000 boepd and 2,000 boepd.
    It had earlier shut down two plants in the Brazeau area as a
precautionary measure, but major infrastructure was not damaged
by the wildfire.
    
    ** Tourmaline Oil Corp  TOU.TO  
    The company said seven of its nine facilities, which were
shut-in due to the wildfires, had started operation. The net
production shut-in from these two facilities is about 16,000
boepd.
    
    ** Kiwetinohk Energy Corp  KEC.TO 
    The company said about two-thirds of Kiwetinohk's Placid
production had been restored and about 18,000-20,000 boepd of
Kiwetinohk's total production was currently impacted.
    
    ** Pembina Pipeline Corp  PPL.TO 
    The Canadian energy transportation company said that all of
its facilities which had shut down had resumed operations and
the company hadn't seen any damages.
    Its Saturn I and II gas plants with a combined processing
capacity of 443 million cubic feet per day were shut down.
    
    ** TC Energy Corp  TRP.TO  
    The company said it had restarted all compressor units that
were shut down due to wildfire precautions.

 (Reporting by Arunima Kumar and Sourasis Bose in Bengaluru;
Editing by Rashmi Aich and Shounak Dasgupta)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))