financetom
Business
financetom
/
Business
/
Canada's Tamarack Valley shutters production after Alberta gas plant fire
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Canada's Tamarack Valley shutters production after Alberta gas plant fire
Apr 15, 2024 5:33 PM

April 15 (Reuters) -

Canadian oil and gas producer Tamarack Valley Energy ( TNEYF )

has temporarily shut in about 6,200 barrels of oil

equivalent per day (boepd) of production after a fire at a

third-party gas plant at Mitsue, Alberta, CEO Brian Schmidt said

on Monday.

The plant, which processes Tamarack's gas from various

batteries in the Nipisi area, was shut down on Saturday.

Schmidt declined to say which company owns the affected

gas plant.

Tamarack said in a statement it is considering several

options to accelerate the resumption of its production as the

plant operator evaluates how long it will take to restart the

facility.

"I suspect from the fire and equipment it's not going to

be a short time," Schmidt told Reuters in a phone 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, he added.

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.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved