2023-05-08 17:56:49 ET
At least 100 wildfires raging across western Canada Monday have forced the curtailment of ~234K bbl/day of oil and gas production as companies shut down wells and pipelines.
Edmonton Mixed Sweet's discount to West Texas Intermediate narrowed by more than a third to US$2.50/bbl, the smallest discount since March, and Syncrude Sweet's premium grew to $3.50/bbl, according to Bloomberg data.
In addition to several other shutdowns announced earlier in the day, Cenovus Energy ( NYSE: CVE ) said 85K boe/day of production , primarily dry gas, has been impacted in the company's Rainbow Lake, Kaybob-Edson, Elmworth-Wapiti and Clearwater operating areas.
Cenovus ( CVE ) said it is maintaining its full-year guidance range of 790K-810K boe/day as it continues to assess the duration of the production impact from the fires.
Obsidian Energy ( OBE ) said it has temporarily shut-in 11K boe/day of production at its Pembina area in central Alberta.
Baytex Energy ( BTE ) said ~10K boe/day of sales volumes have been curtailed from the shut-in of third-party infrastructure in Alberta.
Pembina Pipeline ( PBA ) said its assets currently shut down due to wildfires include the Saturn I and II gas plants and Duvernay Complex, with a combined processing capacity of 443M cf/day net to the company.
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More oil and gas production shut-in by Alberta wildfires