The country's largest oil and gas producer by market cap also said it will specify the exact impact of Alberta's mandatory output caps when it issues its 2019 capital and production guidance on Feb. 5.
Merger-and-acquisition activity in Canada is expected to strengthen in 2019 as a slump in oil prices could fuel consolidation among energy companies and cannabis deals gain momentum.
According to the new EPA analysis, the costs of complying with the rule are projected at $7.4 billion to $9.6 billion annually, while monetized benefits are estimated to be $4 million to $6 million annually.