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  #21  
Old Posted Jul 15, 2008, 8:27 PM
Tom Bombadil Tom Bombadil is offline
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Originally Posted by lubicon View Post
The only British company I can think of is (was) BP, but they have merged with Amoco (U.S.).
Shell is British as well, and they have a large presence in Canada.
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  #22  
Old Posted Jul 15, 2008, 8:37 PM
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^ No shell is dutch. Hence its full name 'Royal Dutch Shell'

Canada actually has quite a few home grown and Canadian owned petro companies, although they are all relatively small players.
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  #23  
Old Posted Jul 17, 2008, 4:47 PM
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A $610 million payday

Quote:
UNPRECEDENTED LAND RIGHTS SALE SHATTERS RECORDS

July 17, 2008

Key records broken by July 2008 land rights sale and other highlights:


New Record/Highlight [Old Record]

Fiscal year total
(to July 2008 and counting): $1.3 billion [$1.2 billion in 2007/08]

Calendar year total
(to July 2008 and counting): $1.58 billion [$1.04 billion set in 2007]

Highest monthly land rights sale:
$610 million [$441 million set in May 2008]

Highest average price for an individual parcel:
$33,649/hectare (drilling licence) [$25,384/hectare
(set in May 2008)]

Highest average price for a lease parcel:
$24,690/hectare [$22,305/hectare
(from August 1980)]
http://www2.news.gov.bc.ca/news_rele...ttachment1.htm

Calendar year to date figures:

BC: $1.58 billion
AB: $640 million
SK: $605 million

Last edited by Stingray2004; Jul 17, 2008 at 6:38 PM.
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  #24  
Old Posted Jul 17, 2008, 7:01 PM
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Originally Posted by Stingray2004 View Post
A $610 million payday



http://www2.news.gov.bc.ca/news_rele...ttachment1.htm

Calendar year to date figures:

BC: $1.58 billion
AB: $640 million
SK: $605 million
Money moneeeeeeeeeeeey
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  #25  
Old Posted Aug 15, 2008, 2:25 AM
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Somehow... it's all about the WOW factor!


Quote:
B.C. announced Thursday a $502-million take, its second-biggest auction of exploration rights ever, behind last month's record $610-million.

This year's total, after just eight months, is $2.08-billion, swelling provincial coffers and already double last year's record.

For natural gas, B.C. is where every big and small energy company wants to be. EnCana Corp., which was active in the most recent auction, said it could produce two billion cubic feet a day of gas from Montney and Horn River, the two hot B.C. plays.

That would be an amount equal to two-thirds of B.C.'s current output and one-eighth of Canada's total, which now comes mostly from Alberta.

Calendar year to date figures for crown land grant sales:

BC: $2.08 billion
SK: $848 million
AB: $716 million


http://www.theglobeandmail.com/servl...ry/energy/home
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  #26  
Old Posted Aug 15, 2008, 8:52 AM
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Sounds like a lot, but there are a lot of hungry mouths to feed...

BC should be salting some of these windfall revenues away in a rainy-day fund like they are doing in Norway. The good times won't last forever...
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  #27  
Old Posted Sep 19, 2008, 8:43 PM
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Kitimat LNG reverses its plan
Article Comments (1) The Canadian Press

September 19, 2008 at 1:44 PM EDT

CALGARY — Private Calgary-based company Kitimat LNG plans to export liquefied natural gas to Asia from its proposed terminal on the British Columbia coast — reversing its previous intention to import LNG through the same site.

“Fundamental changes” in the global natural gas market have made it more viable to export liquefied natural gas than to import it at the planned Bish Cove terminal near Kitimat, B.C., the company stated Friday.

“The growing economies of the Pacific Rim and rapidly increasing demand for LNG make Asia a natural market for B.C.'s plentiful and expanding supplies of natural gas,” said Rosemary Boulton, president of Kitimat LNG.

She said there is already an extensive pipeline network that connects B.C. gas suppliers to the Kitimat area.

Many big energy names are developing unconventional gas plays in northeast B.C.'s Horn River Basin and Montney formations.

“Delays and cancellations of several LNG liquefaction terminals have caused major LNG shorfalls globally. Regasification terminals in North America are underutilized,” said Ilene Schmaltz, Kitimat LNG's vice-president of supply and marketing.

Earlier this year, Petro-Canada and TransCanada Corp. put a proposed regasification terminal in Gros Cacouna, Que. on hold after Russia's Gazprom, from which the companies had hoped to get their supply, cancelled a plant in the Baltic Sea.

LNG is natural gas that has been cooled to about -160 degrees C, condensing it into liquid form that is easier to transport by sea.
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  #28  
Old Posted Sep 19, 2008, 9:19 PM
Tom Bombadil Tom Bombadil is offline
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Quote:
Originally Posted by LeftCoaster View Post
^ No shell is dutch. Hence its full name 'Royal Dutch Shell'

Canada actually has quite a few home grown and Canadian owned petro companies, although they are all relatively small players.
I missed this response earlier. Royal Dutch Shell is British and Dutch in origins (Royal Dutch= Dutch; Shell= British). There official headquarters however are in London. Thanks for the quick dismissal.
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  #29  
Old Posted Sep 19, 2008, 9:27 PM
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Actaully its offical head quarters are in The Hague, Netherlands, but the company is regestered out of London.

The terms of the merger actually split ownership 60/40 to the dutch side, so I would still contend that it is technically a dutch company, albiet with major british ties.
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  #30  
Old Posted Sep 19, 2008, 9:48 PM
Tom Bombadil Tom Bombadil is offline
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Originally Posted by LeftCoaster View Post
Actaully its offical head quarters are in The Hague, Netherlands, but the company is registered out of London.
I stand corrected. Let's say that it is Anglo-Dutch or Dutch-Anglo if you prefer.
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  #31  
Old Posted Sep 19, 2008, 9:50 PM
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aww... but i wanted a meaningless semantic argument.

Oh well you have come out the bigger person.

And I hate to admit it but Anglo-Dutch has a much better ring to it.
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  #32  
Old Posted Sep 19, 2008, 11:43 PM
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but isn't Beatrix one of the largest shareholders in shell? (or is that a rumour?)

if she is, put my vote for Dutch-Anglo.

ik ga akkoord, is de linkerkust de beste kust
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  #33  
Old Posted Mar 26, 2009, 11:36 PM
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Quote:

B.C. reaps record $2.4 billion from gas and oil auctions

By Scott Simpson, Vancouver Sun - March 26, 2009 1:59 PM


The $2.4-billion in natural gas and oil land rights sales in the 2008-09 fiscal year total trumped the previous record-breaking year by $1.2 billion, and broke every tracked record for oil and gas land rights sales in B.C.
Photograph by: Handout photo, Vancouver Sun files



British Columbia hauled in a record $2.4 billion from natural gas and oil land rights sales in the 2008-2009 fiscal year, Energy, Mines and Petroleum Resources Minister Blair Lekstrom announced Thursday in a news release.

Revenue from bidders looking to lock in rights to explore for natural gas and oil was "more than double" the record set in the previous fiscal year.

“The records shattered by the 2008-09 oil and gas land rights sales underscore the unprecedented growth of the B.C. energy sector,” Lekstrom said in the release.

“Investors recognize the oil and gas resource potential in B.C. evidenced by records like an incredible $33,649 per-hectare bid for a drilling licence."

The news release said the $2.4-billion 2008-09 fiscal year total trumped the previous record-breaking year by $1.2 billion, and broke every tracked record for oil and gas land rights sales in B.C. This is in addition to the record-setting 2008 calendar year total of $2.66 billion, the release added.

ssimpson@vancouversun.com
© Copyright (c) The Vancouver Sun
Source: Vancouver Sun
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  #34  
Old Posted Jul 17, 2009, 2:53 AM
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Some amazing results announced from BC's northeast Horn River natural gas basin in the past few weeks. Could be phenemenal over the coming years, esp. to the provincial treasury in terms of royalties... and we're talking in the $billions$. NG prices also will need a bit of a boost in the coming years.

Encana has been involved with Horn River big time over the past few years as well.

And now Exxon Mobil has bypassed the Texas Barnett shale play and Louisiana's Haynesville shale play for our own Horn River shale play.

Very big news.

Quote:
Exxon Results Hint At B.C. Gas Bonanza


Vancouver — Globe and Mail Update
Last updated on Wednesday, Jul. 15, 2009 04:33AM EDT


The first results from Exxon Mobil Corp.'s (XOM-N68.460.020.03%) exploration of the large Horn River natural gas field in British Columbia suggest there could be even more gas in the area than previously predicted.

Exxon, the world's largest publicly traded energy company, arrived late to Horn River, staking a claim in the untested southern area of the region last year. Last month, the company and its majority-owned Canadian arm, Imperial Oil Ltd., (IMO-T42.850.400.94%) spent more than $100-million to buy the rights for more land adjacent to its original holdings.

On Thursday, Exxon said tests of its first couple of wells drilled last winter flowed at about two million cubic feet a day. Company spokesman Patrick McGinn wouldn't characterize the result or say whether Exxon was happy with it.

“It was just a first look to see what might be below ground,” Mr. McGinn said.

Though the conservative Irving, Tex.-based company is mostly mum, the news is yet another positive sign for Horn River, which is believed to be the largest gas discovery in Canadian history.

Located north of the town of Fort Nelson in rugged and remote northeastern B.C., Horn River is a shale gas play, a type of gas reservoir that has been unlocked with new drilling technology. The most prolific such field is the Barnett in Texas.

In the past two years, a rush of gas from other shale gas fields has produced an unexpected surge in supply, which suggests North America has far more gas than the industry had thought.

For Horn River, years of work and billions of dollars will be required to develop the field, if it lives up to early promise.

Roads, pipelines and processing facilities all need to be built.

Also, the region is far from customers, so competition with other fields in Texas and Louisiana is intense.

Still, EnCana Corp., (ECA-T55.811.362.50%) which discovered Horn River in 2003, has already said it could eventually exceed what the Barnett currently produces.

“We're at the early stages in Horn River,” EnCana spokesman Alan Boras said. “It has tremendous potential. There's a lot of gas.”

Exxon, especially, is expected to move slowly. The company's focus is profit and return on capital, not growth, said analyst William Lacey of FirstEnergy Capital Corp.

“It's another endorsement for the region,” Mr. Lacey said. “But Exxon is pretty conservative. I don't think they're going to rush out to develop.”

The Exxon test wells were drilled vertically in to the earth and the well bore was punctured by a single perforation, a general test to see how much gas might flow from below ground.

Production wells at Horn River are initially drilled vertically and then kick horizontally. Along the horizontal leg, which usually extends more than a kilometre, the well bore is punctured eight or more times and the tight rock is fractured by pumping a high-pressure mix of water and sand into the gas field to get the commodity to flow.

Shale gas could mean the brutal swings in the price of natural gas, from manic highs to deep lows, might moderate in the next decade as ample supply is balanced against demand, with producers more able to turn taps on and off rather than just pushing new production to market regardless of the need for the commodity.

While early production results from shale are strong, there is a debate whether the resource can actually increase long-term North American supply. Instead, it might simply mitigate declines from aging conventional gas fields, whose output falls more than 20 per cent each year.

Current production from Horn River is small at about 100 million cubic feet of gas a day. That's roughly 2.5 per cent of what Barnett produces today and less than 1 per cent of total Canadian production.

Significant production from Horn River likely won't emerge until 2012 or 2013.
http://www.theglobeandmail.com/globe...rticle1212914/

From the Wall Street Journal:

Quote:
Exxon Shale-Gas Find Looks Big

Exploration Push in British Columbia's Horn River Basin Produces Encouraging Results

By RUSSELL GOLD
HOUSTON -- Exxon Mobil Corp. has been scouring the globe for natural gas locked inside shale formations, and said it thinks it may have a world-class find in Canada.

In an interview with The Wall Street Journal, Tim Cejka, Exxon's head of global exploration, said the company has been bullish on shale-gas exploration since 2003, locating promising gas-bearing rock formations and snapping up leases on them.

Exxon is most encouraged by the exploration of 250,000 acres it has leased in the Horn River Basin, in northern British Columbia. Mr. Cejka said results from the first four wells lead the company to conclude that each well will produce between 16 million and 18 million cubic feet of gas a day.

That's five times the size of average wells in Texas's Barnett shale and comparable to big wells in Louisiana's Haynesville shale, two major shale-gas fields that already have moved the U.S. natural-gas market from scarcity to abundance.

Though Exxon is better known as the nation's largest oil company, "We are really interested in shale gas," Mr. Cejka said, detailing the company's push into the energy-exploration business, which was once dominated by scrappy independent companies.
http://online.wsj.com/article/SB124716768350519225.html

Quote:
Analyst: Horn River bonanza could make Alberta natural gas drilling "obsolete"

By Lauren Krugel (CP) – 6 days ago

CALGARY — Alberta's "bread and butter" conventional natural gas industry faces a serious threat from a potentially huge resource looming in neighbouring British Columbia, an analyst says.

The Horn River Basin "has the potential to render those plays obsolete," said Michael Mazar with BMO Capital Markets.

"It might be really bad for Alberta."

An executive with Texas-based energy giant ExxonMobil Corp. (NYSE:XOM) told the Wall Street Journal Thursday that early drilling in Northeastern B.C.'s Horn River Basin suggests wells could produce between 16 million and 18 million cubic feet of gas a day.

ExxonMobil and its Canadian subsidiary, Imperial Oil Ltd. (TSX:IMO), were buyers in the June land rights sale, which netted the B.C. government $178 million - triple total sales for the past five months and the ninth-largest monthly tally in history.

Shallow natural gas drilling in Alberta's heartland has break-even economics with gas prices in the $7.50 per 1,000 cubic feet range, Mazar said.

With the price languishing around $4 for the past several months, drilling rigs throughout the province were idle this past winter season, traditionally the busiest time of year. On Friday, the price of natural gas was close to $3.

Horn River gas is economically viable with natural gas in the $5.50 range, Mazar said. Stripped of up-front costs, like infrastructure, that price could be $4.

"You wonder what the future of those (Alberta plays) are if these other (B.C.) plays are that prolific at much lower gas prices," Mazar said.

One area in which Alberta has a leg-up on B.C. is the pipeline infrastructure needed to carry gas to market.

Infrastructure in B.C. is less developed, but natural gas shipper TransCanada Corp. (TSX:TRP) has proposed to build a pipeline from Horn River into its Alberta system, with startup expected some time in 2011.

ExxonMobil and TransCanada are also planning to build a US$26-billion natural gas pipeline in Alaska, which is slated to start up some time after 2017. It will need to traverse northern B.C. in order to hook into TransCanada's Alberta network.

"Certainly it would help. There would be a trunk line that could be tied in from Horn River ultimately to get that gas to market. There is a certain amount of economies of scale by having both those plays," Mazar said.

Horn River has an estimated 250 trillion cubic feet of natural gas in the formation. Experts predict up to a fifth is recoverable.

Natural gas is extracted from the shale rock by either horizontal drilling or fracturing wells.

Shale gas production was long considered too expensive until new technologies were developed in recently years to tap into the hard-to-access resource at lower costs.

Copyright © 2009 The Canadian Press. All rights reserved.
http://www.google.com/hostednews/can...wvLOGlrBD0NRrg

Last edited by Stingray2004; Jul 17, 2009 at 3:18 AM.
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  #35  
Old Posted Sep 29, 2009, 11:00 PM
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Quote:
Natural Gas Is The Key To B.C.'s Future Prosperity

B.C. has a rich endowment of this unconventional gas. It was the only jurisdiction in Canada to record an increase in natural gas production last year.

Two of the hottest plays in North America are the Montney tight-gas play and the Horn River Basin Shale in Northeastern B.C.. The potential exists to grow the production levels from these plays some two to three times in the next 10 to 20 years.

Since 2001, the entire [natural gas] industry has invested about $38 billion in the province.

Along the way, employment in the industry has grown 65 per cent to 21,000 direct jobs in 2007. That has led to about 60,000 to 70,000 support and service jobs in B.C. and across Canada.

Then there is the revenue that the industry generates for the provincial treasury in the form of royalties, land bonuses and taxes. All told, our industry has contributed approximately $17 billion to the province since 2001.
http://www.vancouversun.com/business...695/story.html

I keep following the BC natural gas sector as it appears headed for phenemenal growth over the next decade. And the future potential to double/triple/quadruple natural gas revenue to the provincial treasury is substantial.

And that means potentially more future $capital investment$ dollars for infrastructure projects.

And the latest from the prolific Horn River basin from Nexen:

Quote:
CALGARY, ALBERTA--(Marketwire - Sept. 21, 2009) - Nexen continues to make significant progress on its substantial Horn River shale gas position in north-east British Columbia following the conclusion of a recent three-well drilling and completion program. With five shale gas wells now on-stream, we are producing between 15-20 mmcf/d with the majority of production coming from the three new wells. These wells have a higher frac density than our earlier wells. Our land position here could support 500 to 700 wells.
Quote:
We view the Horn River basin as one of the largest and most prolific shale gas plays on the continent - an observation with which many others agree."
http://www.nexeninc.com/Newsroom/New...easeId=1047939

And from Quicksilver Resources:

Quote:
Tue Sep 22, 2009 (Reuters) - Shares of independent oil and natural gas company Quicksilver Resources Inc (KWK.N) went up as much as 15 percent Tuesday, a day after it reported positive results from a well at its Horn River Basin property in British Columbia.

The Fort Worth, Texas-based company said the D-50A well tested at an initial production rate of 13 million cubic feet per day (mmcfd) and was already averaging 10 mmcfd in its first month of production.

"Outside of the Barnett, which comprises the vast majority of proved reserves and houses much of the company's unbooked upside, the Horn River is Quicksilver's high potential area and a key factor in future growth"
http://www.reuters.com/article/hotSt...58L30X20090922
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  #36  
Old Posted Sep 30, 2009, 1:46 AM
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make a law stating that companies wanting to drill for gas in BC need to be headquartered in BC, just like Alberta did for the oil industry.
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  #37  
Old Posted Sep 30, 2009, 4:43 AM
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Originally Posted by spaceprobe View Post
make a law stating that companies wanting to drill for gas in BC need to be headquartered in BC, just like Alberta did for the oil industry.
Here here. I wonder if this has a lot to do with the growth of Calgary as a business centre.
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  #38  
Old Posted Sep 30, 2009, 7:09 AM
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Originally Posted by spaceprobe View Post
make a law stating that companies wanting to drill for gas in BC need to be headquartered in BC, just like Alberta did for the oil industry.
Great idea. If that can't be done at least try to broker a deal whereby a more favorable royalty arrangement would be reached with any company willing to locate a head office hear in BC.
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  #39  
Old Posted Oct 23, 2009, 8:03 PM
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Quote:
OCTOBER B.C. OIL AND GAS RIGHTS SALE HIGHEST FOR 2009

VICTORIA – B.C.’s economy has received a much-needed boost with the October 2009 land rights sale, which resulted in $370 million in bonus bids, the sixth-largest sale on record, announced Minister of Energy, Mines and Petroleum Resources Blair Lekstrom. This brings the calendar year to date total to $700.6 million.
http://www2.news.gov.bc.ca/news_rele...017-000519.htm

Most of the land rights sales were in the Montney tight shale natural gas play in the Dawson Creek region of NE BC. The Horn River natural gas shale play is situate in the Fort Nelson region.

BC's $700.6 million figure compared to Alberta's year to date figure of $262 million says it all... And that's all upfront cash in the bank.
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  #40  
Old Posted Oct 23, 2009, 8:55 PM
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I grew up in that area its oil and gas country for sure most residents would rather be part of Alberta though
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