Cenovus Energy Inc. closed its purchase of Canexus Corp.’s North American Terminal Operations (NATO) crude-by-rail transloading facility, the company said Aug. 31. The terminal will be renamed the Bruderheim Energy Terminal.
The terminal in Bruderheim, Alberta, has connections to the Cold Lake and Access crude oil pipeline systems, and links to the Canadian Pacific and Canadian National rail lines. Cenovus, which began moving its oil through the facility in 2014, currently transports crude from its Foster Creek steam-assisted gravity drainage operation to Bruderheim on the Cold Lake Pipeline.
Cenovus said there is potential to expand the acquired facility relatively low cost. Undeveloped land was included in the transaction. The company is evaluating several possible value-added projects.
Rail transportation provider and terminal operator Savage was contracted to work with its onsite management team on the terminal’s day to day operations, the company added.
Cenovus is based in Calgary, Alberta.
Recommended Reading
NAPE: Turning Orphan Wells From a Hot Mess Into a Hot Opportunity
2024-02-09 - Certain orphaned wells across the U.S. could be plugged to earn carbon credits.
Chevron Hunts Upside for Oil Recovery, D&C Savings with Permian Pilots
2024-02-06 - New techniques and technologies being piloted by Chevron in the Permian Basin are improving drilling and completed cycle times. Executives at the California-based major hope to eventually improve overall resource recovery from its shale portfolio.
Comstock Continues Wildcatting, Drops Two Legacy Haynesville Rigs
2024-02-15 - The operator is dropping two of five rigs in its legacy East Texas and northwestern Louisiana play and continuing two north of Houston.
CEO: Continental Adds Midland Basin Acreage, Explores Woodford, Barnett
2024-04-11 - Continental Resources is adding leases in Midland and Ector counties, Texas, as the private E&P hunts for drilling locations to explore. Continental is also testing deeper Barnett and Woodford intervals across its Permian footprint, CEO Doug Lawler said in an exclusive interview.
US Drillers Add Oil, Gas Rigs for Second Week in a Row
2024-01-26 - The oil and gas rig count, an early indicator of future output, rose by one to 621 in the week to Jan. 26.