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Nuvista Energy Ltd NUVSF


Primary Symbol: T.NVA

NuVista Energy Ltd. is an oil and natural gas company, which is engaged in the exploration for, and the development and production of, oil and natural gas reserves in the Western Canadian Sedimentary Basin. Its primary focus is on the scalable and repeatable condensate rich Montney formation in the Alberta Deep Basin (Wapiti Montney). Its core operating areas of Wapiti and Pipestone in the Montney formation are located near the City of Grande Prairie, Alberta, approximately 600 kilometers northwest of Calgary. Its Montney Formation is a shale gas and shale oil resource. The Montney formation in the Wapiti area is a thick (200m+) section of hydrocarbon-charted fine-grained reservoir found at depths ranging from 2,500-3,500m.


TSX:NVA - Post by User

Post by Carjackon Oct 06, 2023 12:44pm
158 Views
Post# 35673416

Trans Mountain to start line fill on Canada oil pipeline nex

Trans Mountain to start line fill on Canada oil pipeline nex

Line fill on the Trans Mountain oil pipeline expansion will start in the first quarter of 2024 and take about six to seven weeks to complete, the Canadian government-owned corporation building the project said on Friday.

Line fill will require about 4.5 million barrels of oil, Trans Mountain Corp said, adding that the expansion project remains on track to start commercial operations near the end of the first quarter.

Line fill involves filling the length of the expanded pipeline with oil before crude deliveries start. The exact date of line fill is being carefully watched by oil market traders as it will boost demand and should raise prices for Canadian crude.

The Trans Mountain expansion (TMX) will nearly triple the capacity of the pipeline running from Alberta to Canada's Pacific Coast to 890,000 barrels per day, but the C$30.9 billion ($22.59 billion) project has struggled with years of regulatory delay and massive cost overruns.

It was bought by the Canadian government in 2018 to ensure the expansion got built.

Once operational, TMX will open up new markets for Canadian crude on the U.S. West Coast and Asia.

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