Dow Jones Newswires

Alberta wildfires halt some energy companies’ operations

Last Updated: May 8, 2023 at 7:40 p.m. ET First Published: May 8, 2023 at 7:12 p.m. ET

By

Josh Beckerman

Destroyed vehicles sit near Drayton Valley, Alberta, Canada, on Monday after a wildfire tore through.
AFP via Getty Images

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A number of energy companies, including Cenovus Energy CVE, +1.77% and Obsidian Energy OBE, +1.52%, halted some operations due to Alberta wildfires.

Cenovus said Monday afternoon that about 85,000 barrels of oil equivalent a day of production has been affected in Rainbow Lake, Kaybob-Edson, Elmworth-Wapiti and Clearwater operating areas. The company said other assets including its oil sands assets and Lloydminster complex haven’t been affected.

Cenovus said it isn’t aware of any significant damage to date and maintained its 2023 production guidance range.

Obsidian said it temporarily shut-in approximately 11,100 boe/d of production in its Pembina area.

Meanwhile, Pembina Pipeline PBA, +0.72% said Monday afternoon that assets currently shut down include the Saturn I and II gas plants at the Saturn Complex and Duvernay Complex. Some assets that were temporarily shut down have restarted, including the Wapiti Gas Plant and the Peace Pipeline system 20-inch line from Fox Creek to Edmonton.

Baytex Energy BTE, +0.91% said about 10,000 boe/d of sales volumes was curtailed since the evening of May 5, and said about 60% of the curtailed volumes remained on-line and were producing into inventory.

Peyto Exploration & Development 0VCO, said that on May 5, it shut down two plants in the Brazeau area as a precautionary measure.

Early Monday morning, Crescent Point Energy CPG, +1.08% said about 45,000 boe/d of production in the Kaybob Duvernay was temporarily shut-in.

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