BOE Report

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]

Imperial announces second quarter 2022 financial and operating results

Quarterly net income of $2,409 million and cash flow from operating activities of $2,682 million Upstream production of 413,000 gross oil equivalent barrels per day, highest second quarter in over 30 years Sustained strong Downstream operating performance with quarterly refinery capacity utilization of 96%, fourth consecutive quarter above 90% Returned over $2.7 billion to shareholders in the quarter through dividends and successful completion of the company’s $2.5 billion substantial [Read more]

ExxonMobil to release second quarter 2022 financial results

IRVING, Texas - Exxon Mobil Corporation will release second quarter 2022 financial results on Friday, July 29, 2022. A press release will be issued via Business Wire and available at 5:30 a.m. CT at www.exxonmobil.com. Darren Woods, chairman and chief executive officer; Kathy Mikells, senior vice president and chief financial officer; and Jennifer Driscoll, vice president of investor relations, will review the results during a live, listen-only conference call at 8:30 a.m. CT. The [Read more]

Kinder Morgan announces dividend of $0.2775 per share and raises full year financial guidance

HOUSTON - Kinder Morgan, Inc.’s (NYSE: KMI) board of directors today approved a cash dividend of $0.2775 per share for the second quarter ($1.11 annualized), payable on August 15, 2022, to stockholders of record as of the close of business on August 1, 2022. This dividend is a 3% increase over the second quarter of 2021. The company is reporting second quarter net income attributable to KMI of $635 million, compared to a net loss attributable to KMI of $757 million in the second quarter of [Read more]

New study shows Enbridge’s Line 3 replacement project generated billions in economic impact

DULUTH, Minn. - The Area Partnership for Economic Expansion (APEX) is pleased to share the results of a recently completed economic impact study regarding the Enbridge Line 3 Replacement Project (L3RP). The study, commissioned by APEX and conducted by the Bureau of Business and Economic Research (BBER) at the University of Minnesota Duluth’s Labovitz School of Business and Economics, found the project supported, on average, 4,157 jobs per year in the region and had a total impact of over $5 [Read more]

Imperial to hold 2022 second quarter earnings call

CALGARY, Alberta - Brad Corson, chairman, president and chief executive officer, and Dave Hughes, vice-president, investor relations, Imperial Oil Limited, will host a 2022 Second Quarter Earnings Call on Friday, July 29, following the company’s second quarter earnings release that morning. The event begins at 9 a.m. MT and will be accessible by webcast. During the call, Mr. Corson will offer brief remarks prior to taking questions from Imperial’s covering analysts. Please click here [Read more]

Imperial announces sale of interests in Montney and Duvernay assets

CALGARY, Alberta--(BUSINESS WIRE)--Imperial (TSE: IMO, NYSE American: IMO) today announced that together with ExxonMobil Canada, it has entered into an agreement with Whitecap Resources Inc. for the sale of XTO Energy Canada, which is jointly owned by Imperial and ExxonMobil Canada, for a total cash consideration of $1.9 billion ($940 million Imperial’s share). The sale is expected to close before the end of the third quarter 2022, subject to regulatory approvals. The sale completes the [Read more]

Imperial committed to long-term shareholder value

CALGARY, Alberta - Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today that it has received final acceptance from the Toronto Stock Exchange (TSX) for a normal course issuer bid (NCIB) to repurchase up to five percent of its 636,676,182 outstanding common shares as of June 15, 2022, or a maximum of 31,833,809 shares during the next 12 months. This maximum will be reduced by the number of shares purchased from Exxon Mobil Corporation (ExxonMobil), Imperial’s majority shareholder, [Read more]

Imperial announces completion of its $2.5 billion substantial issuer bid

CALGARY, Alberta - Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today that it has taken up and paid for 32,467,532 common shares (“Shares”) at a price of $77.00 per Share (the “Purchase Price”) under Imperial’s offer (the “Offer”) to purchase for cancellation up to $2.5 billion of its Shares. All amounts are in Canadian dollars. The Shares purchased represent an aggregate purchase of $2.5 billion and 4.9 percent of the total number of Imperial’s issued and outstanding Shares [Read more]