Mitsubishi and EnCana Form a Natural Gas Partnership in British Columbia -- Absolutely Nothing To Do With the Bakken -- February 17, 2012

Source: naturalgasintelligence - Montney. 

Updates

February 15, 2023: Montney update, RBN Energy.

March 28, 2022: Vermilion Energy makes strategic acquisition in the Montney.

June 30, 2021: Montney update, RBN Energy, takeaway. 

June 14, 2021: Montney rivals merge; Canada's largest natural gas producer now larger. Tourmaline Oil acquires Black Swan.

 

May 19, 2021: Montney update, RBN Energy.

October 30, 2020: Canada finally approves 2021 expansion of NGTL's gas pipeline network. 

 

July 22, 2020: COP to buy Montney acreage. 

June 7, 2019: update on the Montney -- RBN Energy. 

May 12, 2019: recent headlines from  naturalgasintelligence - Montney:

• Encana's well costs have dropped $1 million/well after merger with Newfield Exploration in February, 2019
• Montney's unconventional potential of almost 2,000 trillion cubic feet (333 billion boe?) said to be barely tapped
• Duvernay, Monteny growth requires natural gas pipeline expansion
• links between fracking, earthquakes remain elusive, Canadian report
• Encana adds Anadarko Basin to "core three" with Montney, Permian

April 6, 2018: COP announces acquisition in Montney. 

January 29, 2018: update on Montney.

September 27, 2017: update on Montney.

August 7, 2017: canceled LNG project casts shadow over Canada's biggest shale play.

Petronas' decision to cancel its Pacific NorthWest LNG project is a blow to the growth outlook for Canada's largest shale play, eliminating a potentially huge source of future gas demand.

Gas from the Montney shale play in western Canada would have supplied the C$36 billion ($28.7 billion) project in northern British Columbia. The project, majority-owned by Malaysia's Petronas, would then have shipped 12 megatonnes per year of liquefied natural gas to Asia.

Instead, state-owned Petroliam Nasional Bhd (Petronas) subsidiary Progress Energy will keep developing and selling gas from its vast Montney position into a North American market where prices have been languishing at historically low levels.

May 20, 2017: as a natural gas play, Montney, "Permian of the North" is back

March 13, 2016: competing with the Marcellus for eastern Canada. 

March 3, 2016: update on polyethylene cracker in North Dakota; the tsunami will include the natural gas from Montney.  

Original Post

Asia Continues to Buy North American Assets

Link here.

Mitsubishi Corp. agreed to acquire a partnership with EnCana Corp. to develop Cutbank Ridge undeveloped lands in northeastern British Columbia. Terms call for Mitshbishi to invest $2.9 billion (Can.) for a 40% interest.

The partnership holds 409,000 net acres of Encana’s undeveloped Montney formation gas assets in the Cutbank Ridge play. Encana will operate the partnership and be the managing partner with 60% interest in the partnership.

Randy Eresman, Encana president and chief executive officer, said Encana began nearly a decade ago to assemble its land position in the Cutbank Ridge in the foothills of the Canadian Rockies.