Analysts expect the acquisition of Magnum—the number two player in dissolvable frack plugs—to give Nine Energy Service ‘incremental exposure’ to the downhole tools market.
Canada’s Enbridge Inc. said on Oct. 10 it had approval to restart operations on a 30-inch natural gas pipeline in northern British Columbia, after a fire in an adjacent line led to disruptions for refineries in the U.S. state of Washington.
IPC will acquire BlackPearl for roughly C$622.5 million and combine its assets with IPC’s existing assets in Canada as well as in France, Malaysia and the Netherlands.
Canada's energy industry got a boost this week from an LNG project FID. Plus Encana exits the San Juan Basin, Husky makes a play for MEG Energy and reports that Exxon Mobil is exploring the sale of its Gulf of Mexico assets.
Government will pursue more consultations with aboriginal groups unhappy with the plan.
Canadian oil and gas producer Husky Energy said late Oct. 2 it had formally offered to acquire rival MEG Energy in a deal valued at about $5 billion including debt.
Two-train facility and $6.2 billion pipeline represent the single largest private sector investment project in Canadian history.
First gas from the LNG Canada project is expected before 2025, aiming to feed an expected surge in demand for the cleaner, super-chilled fuel from hungry Asian buyers, mainly China.
The Husky's takeover offer for MEG comes as many Canadian oil producers have struggled with transportation bottlenecks as output has surged.
The deals come as the discount on Canadian heavy oil has spread to $42, its widest point on record, as rising production from Alberta's oil sands has run up against full pipelines, leading to swelling volumes in storage.