BOE Report

Imperial to market interests in Montney and Duvernay assets

CALGARY, Alberta - Imperial (TSE: IMO, NYSE American: IMO) today announced its intention to market its interests in XTO Energy Canada jointly with ExxonMobil Canada. Imperial and ExxonMobil Canada each own 50 percent of XTO Energy Canada, which includes assets in the Montney and Duvernay areas of central Alberta. This decision is part of Imperial’s ongoing evaluation of its unconventional portfolio, and is consistent with its strategy to focus upstream resources on key oil sands assets. A [Read more]

Advisory: Chevron Corporation’s 4Q 2021 earnings conference call and webcast

SAN RAMON -Chevron Corporation (NYSE: CVX), one of the world’s leading energy companies, will hold its quarterly earnings conference call on Friday, January 28, 2022, at 11:00 a.m. ET (8:00 a.m. PT). Conference Call Information: Date: Friday, January 28, 2022 Time: 11:00 a.m. ET / 8:00 a.m. PT Dial-in # (Listen-only mode): 888-609-5704 Conference ID #: 5209887 Speakers: Mike Wirth – Chairman of the Board and Chief Executive Officer Pierre Breber – Vice President and Chief Financial [Read more]

Imperial provides 2022 corporate guidance outlook

CALGARY, Alberta - Imperial (TSE: IMO, NYSE American: IMO) today provided an update on its corporate guidance outlook for 2022. The company’s corporate strategy remains focused on maximizing performance of existing assets, prioritizing shareholder returns and progressing key sustainability initiatives. Capital spending is forecast at $1.4 billion, reflecting continued capital discipline and efficient project execution. Spending for 2022 includes the ramp-up of the in-pit tailings project at [Read more]

Inclusive Energy announces strategic partnership and financing for Shiffoil Inc.

CALGARY, Alberta — Inclusive Energy Ltd. (“Inclusive”), a leader in the oil and gas services sector, is pleased to announce the creation of a strategic partnership and closing of a significant financing with Shiffoil Inc. (“Shiffoil”). Shiffoil is a junior oil and gas producer focused on developing its light oil properties in the Pierson and Daly-Sinclair areas of Manitoba. The investment in Shiffoil consists of a unique financing arrangement, whereby Inclusive will provide a lending facility to [Read more]

ConocoPhillips announces agreement to sell Indonesia assets for $1.355 billion and provides notice that it is exercising its preemption right to purchase up to an additional 10% shareholding interest in APLNG

HOUSTON - ConocoPhillips (NYSE: COP) today announced two transactions intended to core up the important Asia-Pacific segment of its diverse global portfolio. The company announced it has entered into an agreement to sell the subsidiary that indirectly owns the company’s 54% interest in the Indonesia Corridor Block Production Sharing Contract (PSC) and a 35% shareholding interest in the Transasia Pipeline Company. The sale to MedcoEnergi for $1.355 billion is subject to customary adjustments [Read more]

ConocoPhillips announces preliminary 2022 capital expenditures budget; initiates three-tier returns of capital program and declares quarterly variable cash distribution

HOUSTON - ConocoPhillips (NYSE: COP) today announced several updates that highlight the company’s differentiated value proposition. This announcement follows the recent closing of the company’s acquisition of Shell’s Permian Basin properties on Dec. 1 for net cash of $8.6 billion. Today’s announcement reflects the addition of Shell’s Permian Basin properties, including the previously announced expected 2022 capital expenditures and production associated with that transaction. Highlights [Read more]

Sustainable Development Technology Canada supports Validere, Xpansiv, Pacific Canbriam Energy, and Clearstone Engineering in pioneering low emissions gas

CALGARY, Alberta--(BUSINESS WIRE)--#ESG--Validere, a leader in bringing product data transparency to the oil and gas industry, announced that together with critical partners Xpansiv, Pacific Canbriam Energy, and Clearstone Engineering (“the partners”), they have received $1.2 million of support through Sustainable Development Technology Canada (STDC). The funding will accelerate the development of technology that supports the low emissions gas market in Canada and globally. Validere uses data [Read more]

Imperial announces plan to accelerate share purchases under normal course issuer bid

CALGARY, Alberta - Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today that it plans to accelerate its share purchases under its normal course issuer bid (NCIB). The current NCIB allows Imperial to repurchase up to five percent of its 711,673,439 outstanding common shares as of June 15, 2021, or a maximum of 35,583,671 shares prior to June 28, 2022. This maximum includes shares purchased from Exxon Mobil Corporation (ExxonMobil) outside of, but concurrent with the NCIB to [Read more]

Shell offers new AI-powered applications through open AI energy initiative

REDWOOD CITY, Calif. & THE HAGUE, Netherlands - C3 AI (NYSE:AI) and Shell (NYSE:RDS) today announced three new Shell products that will be available through the Open AI Initiative (OAI), an open ecosystem of artificial intelligence (AI)-based solutions for the energy and process industries. The OAI, launched by C3 AI, Shell, Baker Hughes and Microsoft in February 2021, provides an open framework for energy operators, service & equipment providers, and independent software vendors to [Read more]

ConocoPhillips announces third-Quarter 2021 financial and operational results

HOUSTON - ConocoPhillips (NYSE: COP) today reported third-quarter 2021 earnings of $2.4 billion, or $1.78 per share, compared with a third-quarter 2020 loss of $0.5 billion, or ($0.42) per share. Excluding special items, third-quarter 2021 adjusted earnings were $2.4 billion, or $1.77 per share, compared with a third-quarter 2020 adjusted loss of $0.3 billion, or ($0.31) per share. Special items for the current quarter included a contingent payment from Cenovus associated with the 2017 Canadian [Read more]