Tamarack Valley shuts Alberta output after gas plant fire
Canada's Tamarack Valley Energy TVE.TO has temporarily shut production of about 6,200 barrels of oil equivalent per day (boepd) following a fire at a Canadian Natural Resources Ltd CNQ.TO gas plant in Alberta, the companies said on Monday.
The plant, which processes Tamarack's gas from various batteries in the Nipisi area, was shut down after the fire broke out on Saturday.
Canadian Natural, the country's biggest oil and gas producer, said it was alerted to the fire that had started inside its Mitsue Gas Plant at about 4.00 a.m. local time (1000 GMT).
"First responders and Canadian Natural's personnel extinguished the fire safely and there were no injuries," the company said in a statement.
Canadian Natural said it is investigating the incident to determine the cause and evaluating how long it will take to restore the facility to operation.
The company did not comment on whether its own production was also impacted.
Oil and gas producer Tamarack said it is considering several options to accelerate the resumption of its production while waiting for the plant to restart.
"I suspect from the fire and equipment it's not going to be a short time," Tamarack Valley CEO Brian Schmidt told Reuters in a telephone interview.
Tamarack's options include re-routing its gas to other processing plants and seeking relief from an Alberta Energy Regulator directive that limits gas flaring, Schmidt said.
The volumes temporarily shut-in amount to roughly 10% of Tamarack's total production, RBC Capital Markets analyst Luke Davis said in a research note.
"We expect the stock to lag peers until further clarity is provided," Davis wrote.
(Reporting by Nia Williams in British Columbia and Roshia Sabu in Bengaluru; Editing by Shailesh Kuber, Alan Barona and Sherry Jacob-Phillips)
CTVNews.ca Top Stories
BREAKING Speaker kicks Poilievre out of Commons over unparliamentary comments
Speaker Greg Fergus kicked Conservative Leader Pierre Poilievre out of the House of Commons during question period today.
Man dies after suffering cardiac arrest while waiting in ER, widow wants investigation
When an ambulance took David Lippert to the hospital in March of 2023, the 68-year-old Kitchener, Ont., executive was hoping to find out why he was feeling weak and unable to walk. Some 24 hours later, he was found unresponsive in the ER.
Baby, grandparents among 4 people killed in wrong-way police chase on Ontario's Hwy. 401
A police chase which started with a liquor store robbery in Bowmanville Monday night ended in tragedy some 20 minutes later when a suspect fleeing police entered Highway 401 in the wrong direction and caused a pileup which killed an infant and the child's grandparents, as well as the suspect, investigators say.
Freeland previews omnibus budget bill, proposed capital gains tax change left out
Deputy Prime Minister and Finance Minister Chrystia Freeland will be tabling yet another omnibus bill to pass a sweeping range of measures promised in her April 16 federal budget, though left out of the legislation will be the government's proposed capital gains tax change.
Air Canada walks back new seat selection policy change after backlash
Air Canada has paused a new seat selection fee for travellers booked on the lowest fares just days after implementing it.
McGill requests 'police assistance' over pro-Palestinian encampment
McGill University says it has 'requested police assistance' about the pro-Palestinian encampment on its lower field.
Judge raises threat of jail in hush money trial as he holds Trump in contempt, fines him US$9,000
Donald Trump was held in contempt of court Tuesday and fined US$9,000 for repeatedly violating a gag order that barred him from making public statements about witnesses, jurors and some others connected to his New York hush money case. And if he does it again, the judge warned, he could be jailed.
Court upholds Milwaukee police officer's firing for posting racist memes after Sterling Brown arrest
The Wisconsin Supreme Court ruled Tuesday that a former Milwaukee police officer was properly fired for posting racist memes related to the arrest of an NBA player that triggered a public outcry.
Video captures deadly wrong-way police chase on Highway 401 in Ontario
A new video has surfaced showing a vehicle being pursued by police in the wrong direction on Highway 401 moments prior to a fatal crash that killed four people, including an infant and their grandparents.