|
January 10
|
A sharp downturn in natural gas prices and pessimism about prices for the next few years made 1991 the worst year for well completions in Western Canada since 1975
|
|
February 5
|
With negotiations in San Francisco shaping the future of the Alberta-California gas trade, the National Energy Board acts to preserve current contractual arrangements
|
|
February 13
|
Kern River project to take 700 mmcf a day of gas, including some B.C. gas, to California
|
|
February 14
|
Hibernia will be delayed a year while consortium looks for new partner because of Gulf Canada’s withdrawal |
|
February 24
|
For the first time Pan Alberta Gas Ltd. became Canada’s leading exporter, knocking off the perennial Alberta & Southern Gas Co. Ltd. |
|
March 2
|
World oil prices to hit $23-$28 (U.S.) per bbl WTI by year’s end and will at least double over the next decade, a forecaster predicted
|
|
March 5
|
Devonian gas potential approaching volumes once thought reasonable for the entire Western Canada Sedimentary Basin
|
|
March 25
|
Some of the last vestiges of the National Energy Program died today when the federal government removed the 50% Canadian participation requirement
|
|
March 25
|
Alberta is considering lifting a ban on the use of natural gas for electrical generation in an effort to reduce the supply glut, boost prices and clean the environment
|
|
April 24
|
Alberta’s established oil reserves of conventional crude oil continued to decline in 1991 as producers added less than 10 million cubic metres
|
|
May 6
|
Between 400 and 500 resources division and corporate support employees -- including four vice-presidents -- will lose their jobs at Petro-Canada over the next few months
|
|
May 21
|
The National Energy Board has approved a $357-million expansion of TransCanada PipeLines Limited’s system
|
|
May 29
|
Drilling in Alberta was lowest since 1975
|
|
June 5
|
A Canadian industry milestone was reached as the first commercial offshore crude oil this country has ever produced began to flow about 250 kilometres southeast of Halifax
|
|
June 16
|
Shell Canada Limited opened its new CO2 injection project at the Midale oilfield in southeast Saskatchewan
|
|
September 29
|
Panarctic Oils Ltd. has successfully delivered its second summer shipment of Bent Horn crude to Montreal after only managing to make on delivery in 1991
|
|
November 6
|
Canada’s upstream oil and gas industry has axed more than 35,000 workers since the late 1980s, a study has revealed
|
|
December 11
|
The Canadian petroleum industry’s internal cash flow rose by $459 million in the second quarter of 1992
|
|
December 17
|
Alberta’s oil and gas industry paid the fewest dollars for the fewest hectares of Crown land in years during 1992
|
|
December 31
|
A full 70% of Canada’s drilling rig fleet was idle during 1992 but the final quarter of the year brought a 42% utilization rate
|
