Higher oil prices are accelerating investment in Alberta’s fast-growing Clearwater formation as producers favor quicker, lower-cost conventional heavy oil projects over capital-intensive oil sands developments.

Alberta approved 1,764 drilling licenses between Jan. 1 and June 12, the busiest start to a year since 2014...

Higher oil prices are accelerating investment in Alberta’s fast-growing Clearwater formation as producers favor quicker, lower-cost conventional heavy oil projects over…