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Released October 17, 2023 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Tourmaline Oil Corporation (Calgary, Alberta) announced this week it will acquire Bonavista Energy Corporation (Calgary), which will expand its role in southwestern Alberta's Deep Basin. Assuming the deal closes before the end of the year, Tourmaline expects its 2023 companywide production to average more than 600,000 barrels of oil equivalent per day, about 16% of which would be from natural gas liquids (NGL). Industrial Info is tracking more than US$4.3 billion worth of active and planned projects from Tourmaline, including more than US$2.25 billion worth that are nearing or under construction.
Click on the image at right for a graph detailing Tourmaline's active and planned projects, by project type.
"The Bonavista assets are a natural extension of Tourmaline's existing operations in the Deep Basin, where [Tourmaline] is already the largest producer," Tourmaline said in a press release. Bonavista is the ninth-largest NGL producer in Western Canada, and Tourmaline says the acquisition "complements its long-term EP [economic profit] organic growth plan, adding decades of inventory and supplementing Tourmaline's existing Deep Basin assets." The acquisition is expected to close in the second half of November 2023, subject to customary regulatory and stock exchange approvals, according to Tourmaline.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Plant Database can click here for a full list of plant profiles for Bonavista's active assets.
Tourmaline already is considering a series of upgrade and improvement projects at some of its key properties in and around Alberta's Deep Basin. These include plans to reduce carbon dioxide (CO2) emissions at several of its gas-processing plants by replacing all internal combustion engines and/or turbines with electric drive units. The company is proposing these upgrades to its plant near Hinton; at its Sundance Plant in Edison; at its Cecilia Plant in Edison, where it is drilling 90 new wells through the end of the year; at its Musreau Plant near Grande Cache, where it is drilling more than 40 new wells; and at its RestHaven Plant near Grande Cache, where it is drilling eight new wells.
Subscribers to Industrial Info's GMI Oil & Gas Project Database can read detailed reports on the Hinton and Sundance CO2 additions; the CO2 additions and drilling plans at Cecilia; the CO2 additions and drilling plans at Musreau; and the CO2 additions and drilling plans at RestHaven.
Tourmaline also is considering upgrades to the carbon capture, utilization and storage (CCUS) units Musreau and Sundance, which would include new pumps and electric motor compressors to better cool the systems. Subscribers can read detailed reports on the proposed Musreau and Sundance projects.
Canada's federal government has bolstered CCUS projects through refundable tax credits, for which its Department of Finance recently proposed a series of updates. In its 2023 federal budget, Canada granted C$20.9 billion (US$15.3 billion) worth of tax credits to energy companies over a five-year period, just to stay competitive with U.S. on clean-energy investments.
Among other changes, the updates would add British Columbia as an "eligible jurisdiction" for the CCUS tax credits. Tourmaline is considering the addition of a CCUS unit at its Aitken Creek North Gas Plant in Fort Saint John, British Columbia, where it also is considering compressor package replacements to reduce CO2 emissions. Subscribers can read detailed reports on the CCUS and compressor package projects.
Tourmaline also is seeking permits for its proposed Conroy Natural Gas Processing Plant near Taylor, British Columbia, which would process 200 million standard cubic feet per day of gas sourced from the North Montney Shale's Conroy Field into 17,000 barrels per day (BBL/d) of NGL and condensate. The company already is at work drilling more than 25 new wells in the Conroy Field. Subscribers can read detailed reports on the proposed processing plant and ongoing drilling program.
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 and proposed projects from Tourmaline.
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 and planned projects, by project type."The Bonavista assets are a natural extension of Tourmaline's existing operations in the Deep Basin, where [Tourmaline] is already the largest producer," Tourmaline said in a press release. Bonavista is the ninth-largest NGL producer in Western Canada, and Tourmaline says the acquisition "complements its long-term EP [economic profit] organic growth plan, adding decades of inventory and supplementing Tourmaline's existing Deep Basin assets." The acquisition is expected to close in the second half of November 2023, subject to customary regulatory and stock exchange approvals, according to Tourmaline.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Plant Database can click here for a full list of plant profiles for Bonavista's active assets.
Tourmaline already is considering a series of upgrade and improvement projects at some of its key properties in and around Alberta's Deep Basin. These include plans to reduce carbon dioxide (CO2) emissions at several of its gas-processing plants by replacing all internal combustion engines and/or turbines with electric drive units. The company is proposing these upgrades to its plant near Hinton; at its Sundance Plant in Edison; at its Cecilia Plant in Edison, where it is drilling 90 new wells through the end of the year; at its Musreau Plant near Grande Cache, where it is drilling more than 40 new wells; and at its RestHaven Plant near Grande Cache, where it is drilling eight new wells.
Subscribers to Industrial Info's GMI Oil & Gas Project Database can read detailed reports on the Hinton and Sundance CO2 additions; the CO2 additions and drilling plans at Cecilia; the CO2 additions and drilling plans at Musreau; and the CO2 additions and drilling plans at RestHaven.
Tourmaline also is considering upgrades to the carbon capture, utilization and storage (CCUS) units Musreau and Sundance, which would include new pumps and electric motor compressors to better cool the systems. Subscribers can read detailed reports on the proposed Musreau and Sundance projects.
Canada's federal government has bolstered CCUS projects through refundable tax credits, for which its Department of Finance recently proposed a series of updates. In its 2023 federal budget, Canada granted C$20.9 billion (US$15.3 billion) worth of tax credits to energy companies over a five-year period, just to stay competitive with U.S. on clean-energy investments.
Among other changes, the updates would add British Columbia as an "eligible jurisdiction" for the CCUS tax credits. Tourmaline is considering the addition of a CCUS unit at its Aitken Creek North Gas Plant in Fort Saint John, British Columbia, where it also is considering compressor package replacements to reduce CO2 emissions. Subscribers can read detailed reports on the CCUS and compressor package projects.
Tourmaline also is seeking permits for its proposed Conroy Natural Gas Processing Plant near Taylor, British Columbia, which would process 200 million standard cubic feet per day of gas sourced from the North Montney Shale's Conroy Field into 17,000 barrels per day (BBL/d) of NGL and condensate. The company already is at work drilling more than 25 new wells in the Conroy Field. Subscribers can read detailed reports on the proposed processing plant and ongoing drilling program.
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 and proposed projects from Tourmaline.
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).
