20:00:32 EDT Wed 01 May 2024
Enter Symbol
or Name
USA
CA



Cenovus Energy Inc
Symbol CVE
Shares Issued 1,865,105,826
Close 2024-04-15 C$ 28.34
Market Cap C$ 52,857,099,109
Recent Sedar Documents

FP/wire say Tourmaline at risk from "zombie fires"

2024-04-16 09:32 ET - In the News

See In the News (C-TOU) Tourmaline Oil Corp

The Financial Post reports in its Tuesday edition that leftover blazes from last year's record wildfire season in Canada are threatening to knock out almost 3 per cent of the country's natural gas production. A Bloomberg dispatch to the Post says that 50 so-called zombie fires still smouldering beneath layers of snow are located near oil and gas wells and other production facilities, according to government data. Those sites yield natural gas equivalent to about 80,000 barrels a day of oil in Canada's energy heartland of Alberta alone, in addition to almost 14,000 barrels a day of crude. Companies most at risk of disruptions include Tourmaline Oil, the country's biggest gas driller, as well as oil sands giant Cenovus Energy and Paramount Resources. Smaller explorers could also be affected, including closely held Westbrick Energy. The residual blazes underscore how Canada's energy industry -- underpinned by an oil sands sector that produces some of the world's dirtiest crudes -- is increasingly imperilled by climate change. Unusually hot, dry weather contributed to the country's worst wildfire season last year, darkening skies over New York and other U.S. cities. Canada is bracing for another smoke-filled summer.

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