BOE Report

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]

Gibson Energy declares dividend

CALGARY, AB - Gibson Energy Inc. announced today that its Board of Directors has approved a quarterly dividend of $0.35 per common share payable on January 17, 2022, to shareholders of record at the close of business December 31, 2021. This dividend is designated as an eligible dividend for Canadian income tax purposes. For non-resident shareholders, Gibson's dividends are subject to Canadian withholding tax. About Gibson Gibson Energy Inc. ("Gibson" or the "Company") (TSX: GEI), is a [Read more]

Ovintiv to host its third quarter 2021 results conference call and webcast on Nov. 3, 2021

DENVER - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced plans to hold its third quarter 2021 results conference call at 9 a.m. MST, on Wednesday, Nov. 3, 2021. The Company plans to release its financial and operating results after market close, Tuesday, Nov. 2, 2021. In addition to the release, supplemental slides and financial statements will be available on the Company's website, located at www.ovintiv.com. To participate in the conference call, please dial 888-664-6383 (toll-free in [Read more]

Ovintiv to increase shareholder returns through share buy-back program

DENVER - Ovintiv (NYSE: OVV) (TSX: OVV) today announced it is progressing its commitment to increase shareholder returns with the receipt of regulatory approvals for a share buy-back program. This action is consistent with the Company's capital allocation framework, which supports the goal of unlocking shareholder value by delivering on Ovintiv's strategic priorities of financial strength, increasing cash returns to shareholders, generating superior returns on capital investment, and driving ESG [Read more]

Shell announces more than $5 million in support for hurricane Ida relief efforts

HOUSTON - In the aftermath of Hurricane Ida, Shell Oil Company announced today it will contribute more than $5 million in combined community and employee relief and recovery initiatives. "Shell has been operating in the parishes of Louisiana's Bayou and River Regions for nearly 100 years and New Orleans has been our Gulf of Mexico business hub for decades. Our people and our company have a long history of stepping up when our neighbors need us most. This is one of those times," said Shell [Read more]

Vermilion Energy Inc. announces results for the three and six months ended June 30, 2021

CALGARY, AB - Vermilion Energy Inc. ("Vermilion", "We", "Our", "Us" or the "Company") (TSX: VET) (NYSE: VET) is pleased to report operating and condensed financial results for the three and six months ended June 30, 2021. The unaudited interim financial statements and management discussion and analysis for the three and six months ended June 30, 2021 will be available on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com, on EDGAR at www.sec.gov/edgar.shtml, [Read more]