Canada's Natural Gas Producers Aim to Extend 2023's Growth

April 4, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--February and March represented two of the four highest monthly averages on record for Western Canadian natural gas production, and drillers in the region are optimistic 2024 will prove a banner year for the industry, despite an ongoing weakness in natural gas prices. The Canadian Association of Petroleum Producers believes much of the activity will be in support of the long-anticipated LNG Canada project in British Columbia, which is nearing its completion date. br>
Industrial Info is tracking about US$4.5 billion worth of natural gas-production projects across Canada that are set to begin in the second quarter, more than 70% of which is attributed to projects in Alberta. Tourmaline Oil Corporation (Calgary, Alberta) leads all other natural gas producers in the number and total investment value for second-quarter capital-spending kickoffs, all within Alberta and British Columbia's Montney Shale. Other companies include Canadian Natural Resources Limited (NYSE:CNQ) and Shell plc (NYSE:SHEL).