In light of recent government comments that the oil and gas sector is hoarding cash while enjoying skyrocketing profits and shareholder returns, Cenovus Energy Inc.’s top executive came to the industy’s defence Wednesday, saying the financial contributions made by producers are often overlooked.
November 2, 2022, 2:03 PM MDT
The recent and persistent widening of the West Texas Intermediate (WTI)-Western Canadian Select (WCS) differential is “kind of different from our historical experience,” says Cenovus Energy Inc.’s president and CEO Alex Pourbaix.
November 2, 2022, 4:06 PM MDT
The $369 billion in tax credits and other incentives for clean energy investment and emissions reduction projects contained in the U.S. Inflation Reduction Act (IRA) presents a multitude of challenges for Canadian governments and industry in advancing its own plans, a group of panelists at PTAC’s Net Zero conference said.
November 2, 2022, 12 AM MDT
Despite some recent weakening in AECO pricing, industry analysts expect a strong run for natural gas producers in the coming months given the strong fundamentals, reports the DOB’s latest guidance report.
November 2, 2022, 9:36 AM MDT
Despite an erratic commodity price environment, solid upstream and downstream operating results propelled Cenovus Energy Inc.’s financial results upwards as the company almost tripled Q3 earnings year-over-year to $1.6 billion and funds flow soared.
November 2, 2022, 11:17 AM MDT
Cenovus Energy Inc. says the investigation into a deadly fire and explosion at its non-operated Toledo Refinery continues and the facility will remain offline for the foreseeable future.
November 2, 2022, 4:46 PM MDT
The Sustainability in Energy Micro-credential will support the talent development needs of Canada’s energy sector as it addresses critical challenges such as climate change, energy security, energy affordability, and Indigenous reconciliation.
November 2, 2022, 6:57 AM MDT
CAOEC’s State of the Industry is not only welcomed by members as a capstone event for the year, but it is widely covered as one of the most accurate barometers of industry activity with the release of the 2022 State of the Industry Report, and 2023 Drilling Forecast.
November 2, 2022, 6 AM MDT
While much of the Canadian oil and gas industry battles widespread cost inflation, in many cases resulting in budget increases, the impact on Gibson Energy Inc.’s financial performance and outlook has been more limited, senior VP and chief financial officer Sean Brown told analysts on the company’s third quarter 2022 conference call.
November 2, 2022, 12 AM MDT
Calfrac Well Services Ltd. could add additional fracturing spreads in North America in 2023 if strong market conditions continue, chief executive officer Pat Powell told analysts at the company’s third quarter conference call.
November 2, 2022, 1:49 PM MDT
Oil terminalling and pipeline volumes for SECURE Energy Services Inc. climbed 26 per cent during the three-month period ending Sept. 30, 2022, compared to the same time a year earlier.
November 2, 2022, 2:48 PM MDT
Enerplus Corporation has entered into a definitive agreement to sell substantially all of its remaining Canadian assets located in Alberta and Saskatchewan to Surge Energy Inc. for total consideration of C$245 million (US$180 million), prior to closing adjustments, with an effective date of May 1, 2022.
November 2, 2022, 2:53 PM MDT
November 2, 2022, 12 AM MDT
Increased fracturing activity and improved service prices resulted in Calfrac Well Services Ltd. reporting its best margin performance in a decade, the company said in its third quarter 2022 report to shareholders.
November 2, 2022, 7:52 AM MDT
Calfrac Well Services Ltd. announced that Lindsay Link, president, chief operating officer and a director, will retire from the company and the board of directors on Jan. 4, 2023.
November 2, 2022, 4:25 AM MDT
Effective Nov. 2, 2022, Allen Gransch has been appointed president and Corey Higham will take on the expanded role of chief operating officer for SECURE Energy Services Inc.
November 2, 2022, 4:35 AM MDT
Braya Renewable Fuels has issued an RFP for the provision of green hydrogen as a feedstock for its refinery operations in Come By Chance, and as a potential export commodity in the form of green ammonia for local, regional, and international markets.
November 2, 2022, 12 AM MDT
Gear Energy Ltd.’s board has approved a 2023 capital budget of $61 million designed to target four key strategic goals.
November 2, 2022, 3:26 PM MDT
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November 2, 2022, 9:29 AM MDT
Pason Systems Inc. generated $92.5 million in revenue in the third quarter of 2022, representing a 60 per cent increase from the $57.7 million generated in the third quarter of 2021 as drilling activity in Pason's operating regions continued to improve.
November 2, 2022, 3:15 PM MDT
E3 Lithium Ltd. has expanded its team to include multiple new technical and functional roles to enable its growth plans.
November 2, 2022, 1:22 PM MDT
Surge Energy Inc. reported average daily production of 21,380 boe/d (86 per cent liquids) during Q3/22, an increase of over 21 per cent as compared to Q3/21 production of 17,642 boe/d (84 per cent liquids).
November 2, 2022, 6:59 AM MDT
Western Midstream Partners, LP, Enbridge Inc. and Plains All American Pipeline, L.P. and Plains GP Holdings, announced that certain of their subsidiaries closed a transaction whereby Enbridge and Plains purchased WES’s 15 per cent interest in Cactus II Pipeline, LLC for an aggregate amount of $265 million.
November 2, 2022, 4:15 PM MDT
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