CVE:CC - Alberta wildfires force shut-ins of some Canadian oil and gas production

2023-05-08 09:57:27 ET

Shares of Canadian oil and gas producers could move Monday as wildfires in Alberta have shut down some energy infrastructure in the province.

Cenovus Energy ( NYSE: CVE ), one of Canada's top energy producers, said the wildfires forced it to shut production and bring plants down in some areas of its conventional business.

Vermilion Energy ( NYSE: VET ) said it temporarily shut in ~30K boe/day of production and is assessing the risk to its operations.

Crescent Point Energy ( NYSE: CPG ) said it temporarily shut ~45K boe/day of production in the Kaybob Duvernay.

Tourmaline Oil ( OTCPK:TRMLF ) shut down nine South and West Deep Basin gas processing facilities as nearby fires expanded.

Paramount Resources ( OTCPK:PRMRF ) temporarily curtailed ~50K boe/day of output in the Grande Prairie and Kaybob regions.

Pipestone Energy ( OTCPK:BKBEF ) said it shut ~20K boe/day of production in the Grande Prairie because of the fires.

Rain and cooler weather are hoped to bring some relief on Monday.

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