{"id":10462,"date":"2024-04-19T12:49:35","date_gmt":"2024-04-19T12:49:35","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=10462"},"modified":"2024-04-19T12:49:35","modified_gmt":"2024-04-19T12:49:35","slug":"canada-needs-more-oil-pipes-after-trans-mountain-tamarack-says","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/10462\/","title":{"rendered":"Canada Needs More Oil Pipes After Trans Mountain, Tamarack Says"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0The expansion of Canada\u2019s Trans Mountain oil pipeline is nearly ready for action after years of delays and billions of dollars in cost overruns.<\/p>\n

But Tamarack Valley Energy Ltd. Chief Executive Officer Brian Schmidt sees a need for even more export capacity in the long run as drillers ramp up output from newer fields like the Clearwater play his company specializes in.<\/p>\n

The expanded Trans Mountain line \u2014 scheduled to start commercial operations in less than two weeks \u2014 protects Alberta\u2019s growing heavy-oil production from the steeper discounts it would have sold at had it needed to move on rail, Schmidt said in an interview last week. But the Canadian oil sector could expand further if it had more pipeline capacity, with an Indigenous-led project allowing more access to the Pacific Coast as the ideal scenario, he said.<\/p>\n

Trans Mountain is \u201ca good stopgap, but I also think that we need more capacity in the future to satisfy the growth,\u201d Schmidt said on the sidelines of the Bank of Montreal and Canadian Association of Petroleum Producers Energy Symposium in Toronto. \u201cMy belief is that First Nations will drive that process if there is going to be a another pipeline to the West Coast.\u201d<\/p>\n

Tamarack Valley gets the bulk of its output from Alberta\u2019s Clearwater formation, which can be tapped with conventional gear and produces heavy crude at much lower costs than the region\u2019s oil sands. The company built up its position in the area largely through acquisitions, including the $1.13 billion purchase of Deltastream Energy Corp. in 2022.<\/p>\n

The play \u2014 which saw a rush of investment in 2017, making it decades newer than Alberta\u2019s oil-sands deposits \u2014 still isn\u2019t mature and has multiple layers that can be tapped, providing plenty of opportunity for increased production, Schmidt said.<\/p>\n

\u201cThere\u2019s lots of different zones there to explore for,\u201d he said. \u201cSo there\u2019s a lot of running room in the play.\u201d<\/p>\n

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