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Released January 19, 2023 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)-- Following a year of record oil and gas production in some of its key drilling areas, Canada's Tourmaline Oil Corporation (Calgary, Alberta) expects to grow its presence in Western Canada's fossil fuel-rich fields, despite persistent pressure from inflation. Industrial Info is tracking more than US$3.2 billion worth of active projects from Tourmaline, with about 55% attributed to British Columbia and 45% attributed to Alberta.
Click on the image at right for a graph detailing Tourmaline's active projects, by project type.
Tourmaline expects capital expenditures (capex) for 2023 will total about C$1.68 billion (US$1.25 billion), with inflation expected to be about 25% higher than what was seen in 2021. The company estimates its capex for full-year 2022 (excluding acquisitions and divestitures) will total about C$1.7 billion (US$1.26 billion), driven in part by second-half inflationary pressure that was stronger than predicted in the company's mid-2022 outlook.
The 2023 capex includes about C$100 million (US$74.14 million) for exploration-directed spending, including a series of new wells in three large resource plays in the Western Canadian Sedimentary Basin: the Alberta Deep Basin, the Northeast British Columbia (NEBC) Montney and the Peace River Triassic Oil complex. The company expanded its exploration efforts across all three areas in 2022, when it saw nine new discoveries.
In the NEBC Montney area, Tourmaline's Gundy Field expansion and drilling program for 2023 involves constructing one or two well-pads and drilling at least 15 new wells to a depth of 3,000 meters. The program will provide the company's Gundy Creek Natural Gas Processing Plant with natural gas, condensate and natural gas liquid (NGL) feed; Tourmaline noted the Gundy complex saw a record average production of 402 million standard cubic feet per day of natural gas in December, with 27,000 barrels per day (BBL/d) of condensate and NGL. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project Database can learn more in a detailed project report.
Just south of the Gundy Field, Tourmaline is seeking permits for the Conroy Natural Gas Processing Plant near Taylor, British Columbia, which is designed to produce 17,000 BBL/d of NGL and condensate from 200 million standard cubic feet per day of natural gas, sourced from the Montney Shale's Conroy Field. The company also is considering a proposed second phase that would double the processing and production capacities. Subscribers can read detailed project reports on Phase I and Phase II, as well as the drilling program for Conroy Field, which could include 20 to 25 new wells.
Tourmaline already is at work on a 40-mile natural gas pipeline and a 24-mile NGL pipeline, both of which would connect the Conroy gas plant to the pipeline grid. The two pipelines are expected to be completed in first-quarter 2024. Subscribers can read detailed reports on the natural gas and NGL pipelines.
In the Alberta Deep Basin, Tourmaline is preparing to add well pads and drill 80 to 90 new wells, to depths of 3,000 meters, at its Duvernay Cecilia Natural Gas Processing Plant near Edson, Alberta. Just south, the company is considering a proposed fourth train at its Wild River Natural Gas Processing Plant near Hinton, which would increase the facility's processing capacity from 250 million to 350 million standard cubic feet per day. Subscribers can read detailed reports on the Duvernay Cecilia and Wild River projects.
Subscribers to Industrial Info's GMI Project Database 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 detailed reports for active projects from Tourmaline, and click here for a full list of plant profiles.
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 Tourmaline's active projects, by project type.Tourmaline expects capital expenditures (capex) for 2023 will total about C$1.68 billion (US$1.25 billion), with inflation expected to be about 25% higher than what was seen in 2021. The company estimates its capex for full-year 2022 (excluding acquisitions and divestitures) will total about C$1.7 billion (US$1.26 billion), driven in part by second-half inflationary pressure that was stronger than predicted in the company's mid-2022 outlook.
The 2023 capex includes about C$100 million (US$74.14 million) for exploration-directed spending, including a series of new wells in three large resource plays in the Western Canadian Sedimentary Basin: the Alberta Deep Basin, the Northeast British Columbia (NEBC) Montney and the Peace River Triassic Oil complex. The company expanded its exploration efforts across all three areas in 2022, when it saw nine new discoveries.
In the NEBC Montney area, Tourmaline's Gundy Field expansion and drilling program for 2023 involves constructing one or two well-pads and drilling at least 15 new wells to a depth of 3,000 meters. The program will provide the company's Gundy Creek Natural Gas Processing Plant with natural gas, condensate and natural gas liquid (NGL) feed; Tourmaline noted the Gundy complex saw a record average production of 402 million standard cubic feet per day of natural gas in December, with 27,000 barrels per day (BBL/d) of condensate and NGL. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project Database can learn more in a detailed project report.
Just south of the Gundy Field, Tourmaline is seeking permits for the Conroy Natural Gas Processing Plant near Taylor, British Columbia, which is designed to produce 17,000 BBL/d of NGL and condensate from 200 million standard cubic feet per day of natural gas, sourced from the Montney Shale's Conroy Field. The company also is considering a proposed second phase that would double the processing and production capacities. Subscribers can read detailed project reports on Phase I and Phase II, as well as the drilling program for Conroy Field, which could include 20 to 25 new wells.
Tourmaline already is at work on a 40-mile natural gas pipeline and a 24-mile NGL pipeline, both of which would connect the Conroy gas plant to the pipeline grid. The two pipelines are expected to be completed in first-quarter 2024. Subscribers can read detailed reports on the natural gas and NGL pipelines.
In the Alberta Deep Basin, Tourmaline is preparing to add well pads and drill 80 to 90 new wells, to depths of 3,000 meters, at its Duvernay Cecilia Natural Gas Processing Plant near Edson, Alberta. Just south, the company is considering a proposed fourth train at its Wild River Natural Gas Processing Plant near Hinton, which would increase the facility's processing capacity from 250 million to 350 million standard cubic feet per day. Subscribers can read detailed reports on the Duvernay Cecilia and Wild River projects.
Subscribers to Industrial Info's GMI Project Database 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 detailed reports for active projects from Tourmaline, and click here for a full list of plant profiles.
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).
