DENVER - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced that Katherine L. Minyard has been appointed as an independent member of its board of directors, effective immediately. Minyard, 45, is an Investment Principal and Partner at Cambiar Investors where she focuses on energy, metals and mining, industrials, basic materials and utility equities. Before joining Cambiar, she was an Executive Director on J.P. Morgan's Equity Research Team covering integrated oil, refining, Canadian oil [Read more]
Headlines
Canadian Natural Resources beats profit estimates, boosts dividend
Canadian Natural Resources Ltd beat analysts' estimates for fourth-quarter profit on Thursday, as crude prices staged a steady recovery during the period from pandemic-driven lows, also helping boost its dividend. An uptick in crude and natural gas prices has given operators some respite after a tumultuous 2020, when the COVID-19 pandemic wiped out one-fifth of global demand for fuel. After falling to record lows in the spring, Brent crude prices averaged around $45 per barrel in the [Read more]
Canadian Natural Resources Limited announces 2020 fourth quarter and year end results
Calgary, Alberta - Commenting on the Company's 2020 results, Tim McKay, President of Canadian Natural (TSX: CNQ) (NYSE: CNQ) stated "The impact of the COVID-19 pandemic effected the very way we conducted our lives and the way we operated our businesses. Through the year we took protocols to protect our stakeholders and would like to thank our employees, contractors, suppliers and shareholders for their support through this challenging year. Despite the challenges of COVID-19 in 2020, the [Read more]
Athabasca Oil Corporation announces 2020 year-end results
CALGARY, Alberta - Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) reports its 2020 year-end results and annual reserves. In a year of unprecedented challenges, Athabasca demonstrated the exceptional resilience of its low-decline assets. In 2021, Athabasca is focused on resuming its pre-COVID business plan of free cash flow generation, disciplined operations and preserving long term future projects across its portfolio. Armed with an unrestricted cash balance of $165 million, [Read more]
Peyto returns to profitability with Q4 2020 results
CALGARY, Alberta - Peyto Exploration & Development Corp. (“Peyto” or the “Company”) today reports operating and financial results for the fourth quarter and 2020 fiscal year. A 55% operating margin1 combined with record low $2.07/Mcfe total supply cost (PDP FD&A plus Total Cash Costs) helped the Company endure the lowest realized commodity prices in Company history. Annual Return on capital employed (“ROCE”) and Return on equity (“ROE”) were 0% and -2%, respectively, despite fourth [Read more]
MEG Energy announces full year 2020 free cash flow of $129 million, debt repayment of $132 million and 28% year-over-year reduction in G&A expense
CALGARY, AB - MEG Energy Corp. (TSX: MEG) ("MEG" or the "Corporation") reported its full-year 2020 operational and financial results. Highlights include: Free cash flow of $129 million driven by adjusted funds flow of $278 million ($0.91 per share) and disciplined capital spend of $149 million; Bitumen production volumes of 82,441 barrels per day (bbls/d) at a steam-oil ratio (SOR) of 2.3; Repayment of $132 million of long-term debt concurrent with the refinancing of US$1.2 [Read more]
Briko Energy announces its 2020 year-end reserves and corporate update
Calgary, Alberta - Briko Energy Corp. ("Briko" or the "Corporation") is pleased to announce its 2020 year-end reserves and corporate update. 2020 Reserve Highlights Proved ("1P") reserves of 2.3 million barrels of oil equivalent ("BOE") at December 31, 2020 compared to 2.4 million BOE at December 31, 2019; 1P net present value of $14.5 million ($1.29 per share) at a 10% discount rate at December 31, 2020; Proved plus probable ("2P") reserves of 3.0 million BOE at December 31, 2020 [Read more]
Value of existing energy pipelines grows as ESG targets block new projects
Existing energy pipelines in North America are becoming increasingly valuable because investor focus on environmental, social, and corporate governance (ESG) issues is making it more difficult to finance new infrastructure, midstream industry executives said on Wednesday. The "tobaccofication" of the energy industry in recent years has led to less money flowing to the midstream sector as investors and the public increasingly focus ESG investments, Peter Bowden, global head of energy [Read more]
Oil rises on demand hopes after days of sell-off
Oil prices rose on Wednesday, boosted by demand hopes on progress made in U.S. vaccine rollouts, while uncertainty over how much supply OPEC+ will restore to the market at its Thursday meeting and a big build in U.S. crude stocks capped gains. U.S. West Texas Intermediate (WTI) crude futures rose $1.34 cents, or 2.25%, to $60.80 a barrel recovering from three days of losses. Brent crude futures rose $1.15 cents, or 1.84%, to $63.58 a barrel, up from four days of losses. Both futures had [Read more]
TC Energy and TC PipeLines, LP complete merger
CALGARY, Alberta – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) and TC PipeLines, LP (NYSE:TCP) (TCP) today announced that they have completed the previously announced merger (the Merger) pursuant to an Agreement and Plan of Merger dated December 14, 2020. The Merger resulted in TC Energy acquiring all of the outstanding publicly-held common units of TCP and TCP becoming an indirect, wholly owned subsidiary of TC Energy. “We are pleased to have received majority unitholder approval of [Read more]
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