BOE Report

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]

Imperial announces third quarter 2021 financial and operating results

CALGARY, Alberta - Imperial Oil Limited (TSE: IMO, NYSE American: IMO): Third quarter net income of $908 million Strong integrated performance and commodity prices generated cash flow from operating activities of $1,947 million and free cash flow1 of $1,688 million Highest third quarter production in over 30 years, driven by continued strong production at Kearl Downstream capacity utilization of 94% in the quarter, highest since the fourth quarter of 2018 Announced plans to [Read more]

Imperial declares fourth quarter 2021 dividend

CALGARY, Alberta - Imperial Oil Limited (TSE: IMO, NYSE American: IMO) today declared a quarterly dividend of 27 cents per share on the outstanding common shares of the company, payable on January 1, 2022, to shareholders of record at the close of business on December 3, 2021. This fourth quarter 2021 dividend compares with the third quarter 2021 dividend of 27 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 to hold 2021 third 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 2021 Third Quarter Earnings Call on Friday, October 29, following the company’s third 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]

Inclusive Energy announces it has immediate investment capital available and ready to deploy into the North American energy industry

CALGARY, Alberta - Inclusive Energy Ltd., a leader in the oil and gas services sector, is pleased to announce that it has significant private equity capital immediately available and ready to deploy as part of its ongoing initiative to diversify its investments in the North American energy and natural resource industries, including the upstream, midstream, infrastructure, oilfield services and renewables sectors. The capital fund is committed by Inclusive Energy alongside its global partners [Read more]

Baker Hughes and C3 AI Deploy Enterprise AI solutions at MEG Energy for improved efficiency of thermal production operations

HOUSTON & REDWOOD CITY, Calif. - Baker Hughes (NYSE: BKR) and C3 AI (NYSE:AI) today announced the successful deployment of the BHC3 Production Optimization enterprise AI application at MEG Energy, an Alberta, Canada-based energy company, to improve operational efficiency, productivity, and to better visualize risk across the company’s upstream production operations. MEG Energy leverages innovative technology to reduce energy and water use, along with greenhouse gas intensity, while [Read more]

Civeo Corporation announces share repurchase authorization

HOUSTON & CALGARY, Alberta - Civeo Corporation (NYSE:CVEO) announced today that its Board of Directors has authorized the Company to repurchase up to 5% of its total common shares outstanding, or approximately 715,000 common shares, through the facilities of the New York Stock Exchange over the next twelve months. Civeo intends to fund repurchases through cash on hand and cash generated from operations. “Today’s announcement reflects our confidence in Civeo’s business and the future of [Read more]

Imperial to produce renewable diesel at Strathcona refinery

CALGARY, Alberta - Imperial (TSE:IMO, NYSE American:IMO) is moving forward with plans to construct a world-class renewable diesel complex at its Strathcona refinery near Edmonton, Alberta. This new complex is expected to produce more than 1 billion litres per year of renewable diesel from locally sourced and grown feedstocks. The project is expected to realize about 3 million tonnes per year in emissions reductions in the Canadian transportation sector. “Imperial is excited to announce our [Read more]

Despite being world’s 4th largest oil producer, majority of crude oil demand in Canada is met via the United States

CALGARY, Alberta - Canadian oil production is more than two and half times domestic demand, yet the majority of crude oil demand in the country arrives via the United States, according to a new analysis by IHS Markit (NYSE: INFO), a world leader in critical information, analytics, and solutions. The latest report by the IHS Markit Oil Sands Dialogue finds that approximately 55% of crude oil and condensate demand in Canada in 2019 was served either by imports from the United States (600,000 [Read more]

ConocoPhillips delivers strong second-quarter 2021 financial and operational results following recent 10-year market update

Reported earnings of $2.1 billion; adjusted earnings of $1.7 billion. Generated cash provided by operating activities of $4.3 billion; cash from operations of $4.0 billion. Produced 1,547 MBOED excluding Libya. HOUSTON - ConocoPhillips (NYSE: COP) today reported second-quarter 2021 earnings of $2.1 billion, or $1.55 per share, compared with second-quarter 2020 earnings of $0.3 billion, or $0.24 per share. Excluding special items, second-quarter 2021 adjusted earnings were $1.7 billion, or [Read more]