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Released April 17, 2025 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Oil producers across Canada are reacting cautiously to U.S. President Donald Trump's tariffs, which recently were paused for a 90-day period. Some are finding silver linings in the riotous trade dispute. Industrial Info is tracking US$2.6 billion worth of active and proposed projects in Canada's oil-production sector that are set to kick off before the end of the second quarter, about 90% of which is attributed to projects in Alberta.
Click on the image at right for a graph detailing projects in Canada's oil-production sector that are set to begin through June, by parent company.
Ovintiv Incorporated (NYSE:OVV) (Calgary, Alberta) added about 70,000 barrels of oil-equivalent per day (BOE/d) to its portfolio through its acquisition earlier this year of assets in the Montney Shale from Paramount Resources Limited (Calgary). Brendan McCracken, the chief executive officer of Ovintiv, said in a recent quarterly earnings-related conference call that the acquisition, which covers about 109,000 acres, "will deliver strong returns and compares favorably with many of the recent deals we've seen in the broader North American market."
The Paramount deal complements Ovintiv's existing slate of projects, including two programs set to begin in the Duvernay section of the Montney Shale: a US$475 million program in the Duvernay North Field and a US$350 million program in the Duvernay South, both north of Rimbley, Alberta. The projects will involve drilling up to 60 and 50 new wells, respectively, and run through December. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Production Project Database can read detailed reports on the Duvernay North and Duvernay South projects.
Other projects in the Duvernay region include Keyera Corporation's (Calgary) US$246 million program near Drayton Valley, Alberta, and Athabasca Oil Corporation's (Calgary) US$85 million program near Valleyview, Alberta, which involve drilling 20 and eight new wells, respectively, and installing gathering systems in the Kaybob Field. Both are expected to run through December. Subscribers can read detailed reports on the Drayton Valley and Valleyview projects.
Athabasca is keeping its chin up amid Trump's tariff threats. Last month, executives said the company would be able to break even with U.S.-contracted oil at US$40 per barrel; the West Texas Intermediate (WTI) price is now trading at roughly US$61 per barrel, down from about US$72.50 per barrel at the beginning of the year. For more information, see March 7, 2025, article - Canada's Athabasca Oil: We're Resilient Against Trump's Tariffs.
Farther south in Alberta, Whitecap Resources Incorporated (Calgary) is preparing to begin a US$230 million program in the Rocky Mountain House Field, near a city of the same name, that will drill 30 new wells. Subscribers can learn more from detailed reports on the Rocky Mountain House project.
Whitecap also is preparing for an US$87 million program in the Weyburn Oil Field near Goodwater, Saskatchewan, which will add 21 wells for oil production, natural gas production and carbon dioxide (CO2) injection, and upgrade infrastructure. Whitecap says its Weyburn facility is "one of the largest carbon capture, utilization and storage (CCUS) projects in the world." Subscribers can learn more from a detailed project report.
In February, Whitecap called for more oil and gas projects in Canada, which it said would offset any negative effects from Trump's tariffs: "The potential for tariffs on oil and gas exported to the United States brings into focus our lack of market diversification and concentrated reliance on one trading partner. We are beginning to understand the positive impact of the Trans Mountain Expansion since it came online last year, and we also expect to see the positive impact of the LNG Canada ramp up later this year. But we need more projects, as these will bring further market diversification and are overwhelmingly beneficial to all Canadians."
Meanwhile, Tamarack Valley Energy Limited (Calgary) expects to drill up to 35 new wells for its US$130 million program in the Martin Hills Field near Consort. Work in the Martin Hills Field also will include the production of natural gas and natural gas liquids (NGL). Subscribers can learn more from detailed reports on the Martin Hills projects.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of projects in Canada's oil-production sector that are set to kick off in the second quarter.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing projects in Canada's oil-production sector that are set to begin through June, by parent company.Ovintiv Incorporated (NYSE:OVV) (Calgary, Alberta) added about 70,000 barrels of oil-equivalent per day (BOE/d) to its portfolio through its acquisition earlier this year of assets in the Montney Shale from Paramount Resources Limited (Calgary). Brendan McCracken, the chief executive officer of Ovintiv, said in a recent quarterly earnings-related conference call that the acquisition, which covers about 109,000 acres, "will deliver strong returns and compares favorably with many of the recent deals we've seen in the broader North American market."
The Paramount deal complements Ovintiv's existing slate of projects, including two programs set to begin in the Duvernay section of the Montney Shale: a US$475 million program in the Duvernay North Field and a US$350 million program in the Duvernay South, both north of Rimbley, Alberta. The projects will involve drilling up to 60 and 50 new wells, respectively, and run through December. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Production Project Database can read detailed reports on the Duvernay North and Duvernay South projects.
Other projects in the Duvernay region include Keyera Corporation's (Calgary) US$246 million program near Drayton Valley, Alberta, and Athabasca Oil Corporation's (Calgary) US$85 million program near Valleyview, Alberta, which involve drilling 20 and eight new wells, respectively, and installing gathering systems in the Kaybob Field. Both are expected to run through December. Subscribers can read detailed reports on the Drayton Valley and Valleyview projects.
Athabasca is keeping its chin up amid Trump's tariff threats. Last month, executives said the company would be able to break even with U.S.-contracted oil at US$40 per barrel; the West Texas Intermediate (WTI) price is now trading at roughly US$61 per barrel, down from about US$72.50 per barrel at the beginning of the year. For more information, see March 7, 2025, article - Canada's Athabasca Oil: We're Resilient Against Trump's Tariffs.
Farther south in Alberta, Whitecap Resources Incorporated (Calgary) is preparing to begin a US$230 million program in the Rocky Mountain House Field, near a city of the same name, that will drill 30 new wells. Subscribers can learn more from detailed reports on the Rocky Mountain House project.
Whitecap also is preparing for an US$87 million program in the Weyburn Oil Field near Goodwater, Saskatchewan, which will add 21 wells for oil production, natural gas production and carbon dioxide (CO2) injection, and upgrade infrastructure. Whitecap says its Weyburn facility is "one of the largest carbon capture, utilization and storage (CCUS) projects in the world." Subscribers can learn more from a detailed project report.
In February, Whitecap called for more oil and gas projects in Canada, which it said would offset any negative effects from Trump's tariffs: "The potential for tariffs on oil and gas exported to the United States brings into focus our lack of market diversification and concentrated reliance on one trading partner. We are beginning to understand the positive impact of the Trans Mountain Expansion since it came online last year, and we also expect to see the positive impact of the LNG Canada ramp up later this year. But we need more projects, as these will bring further market diversification and are overwhelmingly beneficial to all Canadians."
Meanwhile, Tamarack Valley Energy Limited (Calgary) expects to drill up to 35 new wells for its US$130 million program in the Martin Hills Field near Consort. Work in the Martin Hills Field also will include the production of natural gas and natural gas liquids (NGL). Subscribers can learn more from detailed reports on the Martin Hills projects.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of projects in Canada's oil-production sector that are set to kick off in the second quarter.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
