CALGARY, AB, May 5, 2023 /PRNewswire/ - First Quarter 2023 Financial Highlights Adjusted EBITDA(1),(2) of $503 million, an increase of 94% over the same period in 2022 Free Cash Flow ("FCF")(1) of $263 million, or $0.98 per share, an increase of 145% on a per-share basis from the same period in 2022 Earnings before income taxes of $383 million, an improvement of $141 million from the same period in 2022 Net earnings attributable to common shareholders of $294 million, an increase [Read more]
Headlines
US natgas futures ease to 3-week low on record output, lower LNG exports
U.S. natural gas futures eased about 1% to a fresh three-week low on Friday on output and after the amount of gas flowing to U.S. liquefied natural gas (LNG) export plants declined due to spring maintenance. That price decline came despite forecasts for more gas demand this week and next than previously expected. Front-month gas futures for June delivery on the New York Mercantile Exchange fell 1.3 cents, or 0.6%, to $2.088 per million British thermal units (mmBtu) at 9:00 a.m. EDT (1300 [Read more]
Western Canada Select discount narrows
Western Canada Select (WCS) heavy crude's discount to the benchmark West Texas Intermediate (WTI) tightened on Thursday. WCS for June delivery in Hardisty, Alberta, traded as low as $14.00 a barrel under WTI before settling at $14.30 a barrel under the benchmark, according to brokerage CalRock. On Wednesday it traded between $14.80 and $14.55 a barrel under WTI. Pipeline company Enbridge Inc reached a toll agreement with oil shippers for its Mainline crude pipeline system, a critical [Read more]
Advantage announces annual meeting voting results on election of Directors
CALGARY, AB, May - Advantage Energy Ltd. ("Advantage") is pleased to announce that on May 4, 2023 it held its annual general meeting of shareholders (the "Meeting"). A total of 124,481,542 common shares (approximately 74.87% of the outstanding common shares) were represented at the Meeting in person or by proxy. At the Meeting, shareholders approved the election of nine (9) nominees as directors of Advantage to serve until the next annual meeting of shareholders or until their successors [Read more]
ARC Resources Ltd. reports first quarter 2023 results and announces the sanction of Attachie and dividend increase
CALGARY, AB - (TSX: ARX) ARC Resources Ltd. ("ARC" or the "Company") today reported its first quarter 2023 financial and operational results, announced the sanctioning of Attachie Phase I, provided revisions to its 2023 guidance, and increased the dividend. HIGHLIGHTS Attachie Phase I Sanction and Revised Guidance The Board has approved the sanction of Attachie Phase I. The capital costs to construct and fill the facility are approximately $740 million. Attachie Phase I is expected [Read more]
Pembina Pipeline Corporation reports results for the first quarter 2023 and raises quarterly common share dividend
CALGARY, Alberta - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today its financial and operating results for the first quarter of 2023. Highlights First Quarter Results - reported earnings of $369 million and adjusted EBITDA of $947 million. Common Share Dividend Increase - the board of directors declared a common share cash dividend for the second quarter of 2023 of $0.6675 per share, representing an increase of 2.3 percent, to be paid, [Read more]
Perpetual Energy Inc. reports first quarter 2023 financial and operating results and confirms 2023 guidance
CALGARY, AB – Perpetual Energy Inc. ("Perpetual", or the "Company") is pleased to report its first quarter 2023 financial and operating results and confirm 2023 guidance. Select financial and operational information is outlined below, and should be read in conjunction with Perpetual's unaudited condensed interim consolidated financial statements and related Management's Discussion and Analysis ("MD&A") for the three months ended March 31, 2023, which are available through the Company's [Read more]
Baytex announces first quarter 2023 results
Calgary, Alberta - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) ("Baytex") reports its operating and financial results for the three months ended March 31, 2023 (all amounts are in Canadian dollars unless otherwise noted). "We continued to deliver on our operating and financial targets in the first quarter, which included strong results from our Peavine Clearwater development. We continue to make significant progress on the Ranger acquisition, which materially increases Eagle Ford scale in [Read more]
Enerplus announces first quarter 2023 results
CALGARY, AB - Enerplus Corporation ("Enerplus" or the "Company") (TSX: ERF) (NYSE: ERF) today announced financial and operating results for the first quarter of 2023. The Company reported first quarter 2023 cash flow from operating activities and adjusted funds flow of $241.4 million and $260.4 million, respectively, compared to $196.0 million and $261.9 million, respectively, in the first quarter of 2022. Cash flow from operating activities increased from the prior year period primarily due to [Read more]
Vermilion Energy Inc. reports voting results of annual general meeting
CALGARY, AB - Vermilion Energy Inc. ("Vermilion") (TSX: VET) (NYSE: VET) is pleased to announce the voting results from our annual meeting of shareholders held on May 3, 2023. A total of 68,926,615 common shares representing 42.52% of Vermilion's issued and outstanding common shares were voted in connection with the meeting. The vote on each matter was conducted by ballot. The manner in which the proxies were voted or ballots cast, as applicable, in respect of each matter is set out [Read more]