BOE Report

ConocoPhillips reports fourth-quarter, full-year 2022 results and 176% preliminary reserve replacement ratio; announces 2023 guidance and planned return of capital of $11 billion; declares quarterly dividend and variable return of cash distribution

HOUSTON - ConocoPhillips (NYSE: COP) today reported fourth-quarter 2022 earnings of $3.2 billion, or $2.61 per share, compared with fourth-quarter 2021 earnings of $2.6 billion, or $1.98 per share. Excluding special items, fourth-quarter 2022 adjusted earnings were $3.4 billion, or $2.71 per share, compared with fourth-quarter 2021 adjusted earnings of $3.0 billion, or $2.27 per share. Special items for the current quarter were primarily driven by impairment of certain aged, suspended wells and [Read more]

Imperial declares first quarter 2023 dividend

CALGARY, Alberta - Imperial Oil Limited (TSE: IMO, NYSE American: IMO) today declared a quarterly dividend of 44 cents per share on the outstanding common shares of the company, payable on April 1, 2023, to shareholders of record at the close of business on March 3, 2023. This first quarter 2023 dividend compares with the fourth quarter 2022 dividend of 44 cents per share. Imperial has a long and successful history of growth and financial stability in Canada as a leading member of the [Read more]

Imperial announces fourth quarter 2022 financial and operating results

CALGARY, Alberta--(BUSINESS WIRE)--Imperial (TSE: IMO) (NYSE American: IMO): Fourth quarter Twelve months millions of Canadian dollars, unless noted 2022 2021 ∆ 2022 2021 ∆ Net income (loss) (U.S. GAAP) 1,727 813 +914 7,340 2,479 +4,861 Net income (loss) per common share, assuming dilution (dollars) 2.86 1.18 +1.68 11.44 3.48 +7.96 Capital and exploration [Read more]

Pembina Pipeline Corporation provides notice of Series 21 preferred share conversion right and announces reset dividend rates

CALGARY, Alberta - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today that it does not intend to exercise its right to redeem the currently outstanding Cumulative Redeemable Minimum Rate Reset Class A Preferred Shares, Series 21 ("Series 21 Shares") (TSX: PPL.PF.A) on March 1, 2023. As a result of the decision not to redeem the Series 21 Shares, and subject to certain terms of the Series 21 Shares, the holders of the Series 21 Shares will have the [Read more]

Chevron announces fourth quarter results

SAN RAMON, Calif. - Chevron Corporation (NYSE: CVX) today reported earnings of $6.4 billion ($3.33 per share - diluted) for fourth quarter 2022, compared with $5.1 billion ($2.63 per share - diluted) in fourth quarter 2021. Included in the current quarter were $1.1 billion of international upstream write-off and impairment charges, and pension settlement costs of $17 million. Foreign currency effects decreased earnings by $405 million. Adjusted earnings of $7.9 billion ($4.09 per share - [Read more]

Imperial approves $720 million for largest renewable diesel facility in Canada

CALGARY, Alberta - Imperial (TSE: IMO, NYSE American: IMO) said today it will further help Canada achieve its net zero goals by investing about $720 million (USD $560 million) to move forward with construction of the largest renewable diesel facility in the country. The project at Imperial’s Strathcona refinery near Edmonton is expected to produce more than one billion litres of renewable diesel annually primarily from locally sourced feedstocks and could help reduce greenhouse gas emissions in [Read more]

Chevron increases quarterly dividend; announces $75B stock repurchase program

SAN RAMON, Calif. - The Board of Directors of Chevron Corporation (NYSE: CVX) today declared a quarterly dividend of one dollar and fifty-one cents ($1.51) per share, an increase of nine cents ($0.09) per share or approximately 6 percent. The dividend is payable March 10, 2023, to all holders of common stock as shown on the transfer records of the Corporation at the close of business February 16, 2023. This increase puts Chevron on track to make 2023 the 36th consecutive year with an increase in [Read more]

Imperial provides 2023 corporate guidance outlook

CALGARY, Alberta--(BUSINESS WIRE)--Imperial (TSE: IMO, NYSE American: IMO) today provided an update on its corporate guidance outlook for 2023. The company’s corporate strategy remains focused on maximizing performance of existing assets and select growth initiatives, while prioritizing shareholder returns and delivering key sustainability initiatives. Capital spending is forecast at $1.7 billion and includes a planned ramp-up for the Strathcona Renewable Diesel project, application of [Read more]

Imperial announces completion of its $1.5 billion substantial issuer bid

CALGARY, Alberta -Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today that it has taken up and paid for 20,689,655 common shares (“Shares”) at a price of $72.50 per Share (the “Purchase Price”) under Imperial’s offer (the “Offer”) to purchase for cancellation up to $1.5 billion of its Shares. All amounts are in Canadian dollars. The Shares purchased represent an aggregate purchase of $1.5 billion and 3.4 percent of the total number of Imperial’s issued and outstanding Shares [Read more]