BOE Report

Imperial announces preliminary results of its substantial issuer bid

CALGARY, Alberta--(BUSINESS WIRE)--Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today the preliminary results of its substantial issuer bid (the “Offer”), pursuant to which Imperial offered to purchase for cancellation up to $1.5 billion of its common shares (the “Shares”). The Offer proceeded by way of a modified Dutch auction, which had a tender price range from $72.50 per Share to $87.00 per Share, and included the option for shareholders to participate via a proportionate [Read more]

ExxonMobil announces corporate plan

IRVING, Texas - ExxonMobil today announced its corporate plan for the next five years, with a sizeable increase in investments aimed at emission reductions and accretive lower-emission initiatives, including its Low Carbon Solutions business. The corporate plan through 2027 maintains annual capital expenditures at $20-$25 billion, while growing lower-emissions investments to approximately $17 billion. This disciplined approach prioritizes high-return, low-cost-of-supply assets in the Upstream [Read more]

Imperial announces terms of its substantial issuer bid for up to $1,500,000,000 and receipt of exemptive relief

CALGARY, Alberta - Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today the terms of its substantial issuer bid (the “Offer”) pursuant to which the company will offer to purchase for cancellation up to $1,500,000,000 of its common shares (the “Shares”). Subject to obtaining certain exemptive relief under applicable securities laws in the United States, the Offer will proceed by way of a modified Dutch auction that includes the ability for shareholders to participate via a [Read more]

Imperial announces third quarter 2022 financial and operating results

Quarterly net income of $2,031 million and cash flow from operating activities of $3,089 million Upstream production of 430,000 gross oil-equivalent barrels per day driven by strong production at Kearl and Cold Lake Sustained strong Downstream operating performance with quarterly refinery capacity utilization of 100%, highest in over 40 years Reduced debt by $1 billion using proceeds from the sale of interests in XTO Energy Canada Quarterly dividend increased by 29 percent from 34 [Read more]

SeekOps and Repsol Canada receives Alberta Energy Regulatory approval in Alt-FEMP filing

AUSTIN, Texas - SeekOps Inc., a leader in greenhouse gas emissions detection, quantification and reporting solutions, is the technology at the heart of an Alternative Fugitive Emission Management Program (Alt-FEMP), submitted by Repsol, that has now received approval from the Alberta Energy Regulator. Using their best-in-class, part-per-billion sensitive sensors, SeekOps deploys state-of-the-art unmanned aerial systems that leverage autonomous operations for swift, repeatable and consistent [Read more]

Kinder Morgan announces sale of equity interests in Elba liquefaction company

HOUSTON - Kinder Morgan, Inc. (NYSE: KMI) today announced that it has closed on the sale of a 25.5% equity interest out of its membership interest in Elba Liquefaction Company, L.L.C. (ELC) to an undisclosed financial buyer for approximately $565 million, subject to customary purchase price adjustments to reflect an economic effective date of July 1, 2022. These proceeds will reduce short-term debt and create additional capacity for attractive investments, including opportunistic share [Read more]

Equinor and Tallgrass to jointly pursue opportunities for hydrogen production, and infrastructure development in North America

HOUSTON--(BUSINESS WIRE)--Tallgrass and Equinor have announced a collaborative effort to pursue opportunities for development of large-scale, low-carbon hydrogen and ammonia projects in North America. The partners will assess the production and market potential for hydrogen and ammonia, and associated distribution infrastructure to help facilitate broad decarbonization. Under the memorandum of understanding, Tallgrass and Equinor have agreed to initial co-development activities, including the [Read more]

Kinder Morgan acquires North American Natural Resources

HOUSTON - Kinder Morgan, Inc. (NYSE: KMI) today announced it has closed on the acquisition of North American Natural Resources, Inc. (NANR) and its sister companies, North American Biofuels, LLC and North American-Central, LLC. The $135 million acquisition in combined purchase price and related transaction costs includes seven landfill gas-to-power facilities in Michigan and Kentucky. Shortly following close, KMI will make a final investment decision (FID) on the conversion of up to four of [Read more]

ConocoPhillips reports second-quarter 2022 results; announces increase in planned 2022 return of capital to $15 billion and declares quarterly dividend and variable return of cash distribution

HOUSTON - ConocoPhillips (NYSE: COP) today reported second-quarter 2022 earnings of $5.1 billion, or $3.96 per share, compared with second-quarter 2021 earnings of $2.1 billion, or $1.55 per share. Excluding special items, second-quarter 2022 adjusted earnings were $5.1 billion, or $3.91 per share, compared with second-quarter 2021 adjusted earnings of $1.7 billion, or $1.27 per share. Special items for the current quarter were comprised of gains on asset sales including contingent payments [Read more]

Chevron announces leadership changes

SAN RAMON, Calif. - Chevron Corporation (NYSE: CVX) today announced the appointment of Alana K. Knowles as vice president and controller, effective March 1, 2023. Knowles will succeed David A. Inchausti, who will resign from that position effective February 28, 2023, and is expected to retire from the company in April 2023, after 35 years of service. Knowles will lead Chevron’s accounting policy and external reporting, financial reporting and analysis, internal controls and digital finance [Read more]