BOE Report

Pembina Pipeline Corporation announces closing of $1 billion public note offering

CALGARY, AB - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL) (NYSE: PBA) is pleased to announce that it has closed its previously announced offering of $1.0 billion of senior unsecured medium-term notes (the "Offering"). The Offering was conducted in two tranches consisting of $500 million principal amount of senior unsecured medium-term notes, series 17 (the "Series 17 Notes") having a fixed coupon of 3.53% per annum, paid semi-annually, and maturing on December 10, 2031; [Read more]

Pembina Pipeline Corporation announces 2022 guidance, business update and additional ESG targets

CALGARY, AB - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL) (NYSE: PBA) is pleased to provide its 2022 financial guidance and deliver an end-of-year business update. Highlights 2022 adjusted EBITDA of $3.35 to $3.55 billion and a 2022 capital investment program of $655 million. Cash flow from operating activities is expected to exceed dividends and the capital investment program in 2022. As such, Pembina expects to allocate up to the first $200 million of the [Read more]

Shell adds deep-water discovery in the Perdido Corridor of the U.S. Gulf of Mexico

HOUSTON - Shell Offshore Inc. ("Shell"), a subsidiary of Royal Dutch Shell plc, today announced a material discovery at the Blacktip North prospect in the U.S. Gulf of Mexico. The Blacktip North well encountered approximately 300 feet net oil pay at multiple levels. Evaluation is ongoing to further define development options. "The Blacktip North prospect is the latest example of discovering new resources in our advantaged corridors," said Paul Goodfellow, Executive Vice President of Deep [Read more]

Enbridge announces 2022 financial guidance, increases dividend, and provides update on strategic priorities

CALGARY, AB - Enbridge Inc. (Enbridge or the Company) (TSX: ENB) (NYSE: ENB) announced its 2022 financial guidance and dividend, and provided an update on its strategic priorities, which will be further discussed at the Company's investor conference today in Toronto. A virtual broadcast of the event is also available for registered participants. Highlights Reaffirmed 2021 full year guidance range for adjusted earnings before interest, income taxes and depreciation (EBITDA) of $13.9 [Read more]

Crescent Point announces 2022 budget and increased return of capital to shareholders

CALGARY, AB - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) and (NYSE: CPG) is pleased to announce its formal 2022 capital expenditures budget and production guidance, another quarterly dividend increase beginning first quarter 2022, planned share repurchases and the renewal of its credit facilities. KEY HIGHLIGHTS  Increased 2022 production guidance to 133,000 to 137,000 boe/d from the preliminary range of 131,000 to 135,000 boe/d. Disciplined capital [Read more]

Shell completes sale of its Permian business to ConocoPhillips

HOUSTON - Shell Enterprises LLC, a subsidiary of Royal Dutch Shell plc, has completed the sale of its interest in the Permian to ConocoPhillips for $9.5 billion in cash. The agreement covers the sale of Shell's 225k net acres and existing production of around 175 thousand barrels equivalent per day. As noted in the announcement of the agreement for the sale of Shell's Permian business, this deal reflects Shell's focus on value over volumes as well as disciplined stewardship of capital. This [Read more]

Moving forward: ATB Financial’s forecast for Alberta’s economy in 2022

CALGARY, AB - ATB Financial's latest Economic Outlook forecast for 2022 anticipates that, while a strong recovery in the oil and gas sector and momentum in other areas are propelling the Alberta economy forward, we will continue to face challenges due to the ongoing pandemic. Alberta's real GDP is expected to rebound by 6.3% in 2021 followed by growth of 4.0% in 2022 and 2.5% in 2023. While we are moving in the right direction, the annual provincial output will only meet 2019's output level [Read more]

Hyzon Motors and TC Energy announce modular hydrogen production hub development agreement

ROCHESTER, N.Y. and HOUSTON - Hyzon Motors Inc. (NASDAQ: HYZN), (Hyzon) a leading supplier of hydrogen-powered fuel cell electric vehicles, and TC Energy Corporation (TSX, NYSE: TRP), (TC Energy), today announced an agreement to collaborate on development, construction, operation, and ownership of hydrogen production facilities (hubs) across North America. The hydrogen production facilities will be used to meet hydrogen fuel cell electric vehicle demand by focusing on low-to-negative carbon [Read more]

Canada’s natural resources sector should be a climate action model at United Nations COP26

CALGARY, AB - - "Canadian energy should stand as a model for progress on climate action this week in Glasgow", says Canada Action, a grassroots-built coalition. "Canada should be a preferred global supplier of our energy and other resources. We're a world leader in emission intensity reductions, water recycling, carbon capture utilization and storage, methane emission reductions, renewables, clean-tech and innovation. We're one of only a few global oil and gas producers with carbon pricing," [Read more]

Ovintiv reports third quarter 2021 financial and operating results

Strong Third Quarter Free Cash Flow to Enhance Shareholder Returns Through Fourth Quarter Share Buyback Program Third Quarter Highlights: Generated third quarter cash from operating activities of $812 million, non-GAAP cash flow of $845 million and non-GAAP free cash flow of $480 million Reduced net debt by $409 million to $4.8 billion; achieved 1.5 times net debt to adjusted EBITDA leverage ratio Fully offset inflation during the quarter with operational efficiency gains and [Read more]