Cenovus posts Q4 earnings beat on strong oil prices, refinery profits

CALGARY – Higher discounts being paid for Canadian heavy oil versus American crude are having an “extraordinary impact” on the Canadian and Alberta economies, says the CEO of oilsands producer Cenovus Energy Inc. Every U.S. dollar increase in the price difference between Western Canadian Select bitumen blend and New York-traded West Texas Intermediate costs the [Read More…]

Source: BOE Report

Encana’s profit beats, production rises 4 pct

Canadian oil and gas producer Encana Corp posted a better-than-expected fourth-quarter profit on Thursday and said production rose 4 percent. Calgary, Alberta-based Encana, which produces gas and light oil, has benefited from whittling down its operations to focus on its four core North American assets: acreage in Montney and Duvernay in Western Canada and assets [Read More…]

Source: BOE Report

TransCanada Announces $2.4 Billion Expansion to Increase Market Access for WCSB Supply

CALGARY, Alberta, Feb. 15, 2018 (GLOBE NEWSWIRE) — News Release – TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) announced today that it will move forward with a $2.4 billion expansion of its NGTL System to connect incremental supply and expand basin export capacity by one billion cubic feet of natural gas per day (Bcf/d) at the interconnection [Read More…]

Source: BOE Report

Birchcliff Energy Ltd. Announces Unaudited 2017 Year-End and Fourth Quarter Results, 2017 Reserves Highlights and 2018 Capital Program

CALGARY, Alberta, Feb. 14, 2018 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff”) (TSX:BIR) is pleased to announce its unaudited 2017 year-end and fourth quarter financial and operational results, highlights from its independent reserves evaluations effective December 31, 2017 and its 2018 capital expenditure program. Birchcliff is also pleased to provide an operational overview and update. Message to [Read More…]

Source: BOE Report

Keystone operator TransCanada beats profit estimates

Keystone pipeline operator TransCanada Corp's fourth-quarter profit beat market expectations on Thursday, helped by lower costs and an expansion of its gas lines. On an adjusted basis, the Calgary-based company earned 82 Canadian cents, beating the average analyst estimate of 77 Canadian cents, according to Thomson Reuters I/B/E/S. Keystone's profitability was boosted, among others reasons, [Read More…]

Source: BOE Report

Transcanada reports fourth-quarter profit

Canadian pipeline operator TransCanada Corp on Thursday reported a quarterly profit compared with a year ago loss when it took about C$1 billion in charges. The Calgary-based company's net income attributable to shareholders was C$861 million ($689.08 million), or 98 Canadian cents per share, in the fourth quarter ended Dec. 31, compared with a loss [Read More…]

Source: BOE Report

Gastar Exploration Announces 68% Increase in Year-End 2017 Proved Reserves, 2017 4th Quarter Production, Operations Update, 2018 Capital Budget and Production Guidance

HOUSTON, Feb. 15, 2018 /CNW/ — Gastar Exploration Inc. (NYSE American: GST) (“Gastar” or the “Company”) today provided a summary of the Company’s year-end 2017 reserves, preliminary fourth quarter 2017 production, operations update, 2018 capital budget and 2018 production guidance. Summary Highlights Gastar’s year-end 2017 Securities and Exchange Commission (“SEC”) proved reserves increased 68% to 42.9 [Read More…]

Source: BOE Report

EQT Reports Year-End Proved Reserves of 21.4 TCFE

Proved reserves increase 59% with 2017 activities and Rice acquisition PITTSBURGH–(BUSINESS WIRE)–EQT Corporation (NYSE: EQT) today reported year-end 2017 proved reserves of 21.4 Tcfe, a 59% increase over 2016. This increase was primarily driven by acquisitions, which added 6.3 Tcfe of proved reserves. Excluding acquisitions, the Company added an additional 2.2 Tcfe of proved reserves, [Read More…]

Source: BOE Report

EQT Reports Fourth Quarter and Year-End 2017 Earnings

PITTSBURGH–(BUSINESS WIRE)–EQT Corporation (NYSE: EQT) today announced fourth quarter and full-year 2017 results. 2017 Highlights: Completed acquisition of Rice Energy Announced 59% increase in proved reserves Received FERC Certificate for Mountain Valley Pipeline Production sales volume was 17% higher than 2016 Average realized price was 23% higher than 2016 Financial Results Year Ended December 31, [Read More…]

Source: BOE Report

2017 Results Announced for EQT Midstream Partners and EQT GP Holdings

PITTSBURGH–(BUSINESS WIRE)–EQT Midstream Partners, LP (NYSE: EQM) today announced full-year and fourth quarter 2017 results. For the year, EQM net income totaled $571.9 million, adjusted EBITDA was $689.5 million, net cash provided by operating activities was $650.6 million, and distributable cash flow was $614.8 million. EQM operating income in 2017 was $580.7 million. For the fourth [Read More…]

Source: BOE Report

Genesis Energy, L.P. Reports Fourth Quarter 2017 Results

HOUSTON–(BUSINESS WIRE)–Genesis Energy, L.P. (NYSE: GEL) today announced its fourth quarter results. Certain highlights of our results for the quarter ended December 31, 2017 included the following items: -We continue to integrate our recently acquired soda ash operations and performance continues to exceed our expectations. -We obtained long-term commitments from a leading operator for the production [Read More…]

Source: BOE Report

Encana delivers strong fourth quarter and 2017 results; company announces $400 million share repurchase program

CALGARY, Alberta, Feb. 15, 2018 (GLOBE NEWSWIRE) — (TSX:ECA) (NYSE:ECA) Encana delivered outstanding financial and operating results in the fourth quarter to close a year of strong, consistent performance. The company met or exceeded its 2017 guidance targets, generated net earnings of $827 million, cash from operating activities of $1.1 billion and expanded its non-GAAP [Read More…]

Source: BOE Report

Cenovus reports solid 2017 results

CALGARY, Alberta, Feb. 15, 2018 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) delivered strong cash from operating activities and adjusted funds flow in 2017. Through its continued focus on capital discipline and reliable operational performance, the company generated almost $1.3 billion in free funds flow last year. Cenovus also completed the divestitures of its [Read More…]

Source: BOE Report