Forget liquids, a dry gas asset is ARC Resources’ most profitable: This week’s best quotes

Image: ARC Resources

Here are some of the most meaningful quotes from news coverage in the Daily Oil Bulletin for the week ending November 17, 2017.

“Streamlining and [reducing] complexity shouldn’t come at all costs. When we had a multi-layered regulatory system, yes it was complicated and cumbersome but it still provided some checks because you had more than one regulator.

“One of the big concerns — the jury is still out on this — is whether we have lost some checks and balances on the system by moving away from a multi-regulator system to a single regulator.”

Nickie Nikolaou, associate professor of law at the University of Calgary Haskayne School of Business, speaking about the results of Alberta establishing a single energy regulator in 2013. She was speaking at a ConocoPhillipsIRIS (International Resource Industries and Sustainability Centre) seminar.

“NAFTA has been a success story for North American energy security by allowing for the more efficient flow of energy, spurring economic growth, investment and job creation here at home,” s“The U.S. must retain its commitment to NAFTA and its robust protections for U.S. businesses and workers to continue benefiting energy consumers and advancing our nation’s energy leadership throughout the world.”

—Jack Gerard, CEO of the American Petroleum Institute, releasing a position paper on NAFTA along with Asociación Méxicana de Empresas de Hidrocarburos and the Canadian Association of Petroleum Producers.

“Sunrise generates the highest percentage margin of all of our projects. Even though revenue per unit may be lower at Sunrise because of it being a dry-gas asset, because of the efficient operation, the great capital cost that we're seeing [and] access to market, it's got the best profitability year to date.”

—Kris Bibby, vice-president of finance with ARC Resources, speaking at the company’s 2017 investor day.

“I’d been at [TransCanada] for 27 years. I was the chief operating officer, and I had a real desire to ultimately be in a position like this where I'm running an organization.

“I was at the time 51. My boss I think was a couple of years older than me, was doing a great job, and the company was doing great. I just saw a scenario that, if I ended my career at TransCanada, I might not get the opportunity to do what I'm doing today.”

—Alex Pourbaix, who took over as CEO of Cenovus Energy, commenting on why he chose to leave TransCanada and subsequently accept the new role.

“Any sort of oilsands development has to be taken into account when you are thinking about Wood Buffalo National Park. You can’t really think of them as separate issues. They are basically intertwined because of the fact the park is upstream.”

—Kecia Kerr, executive director of the Canadian Parks and Wilderness Society Northern Alberta chapter, responding to the International Union on the Conservation of Nature (IUCN) classifying Wood Buffalo National Park as having the worst conservation outlook in Canada and the second worst in all of North America in its 2017 World Heritage Outlook.