workathon
www.appliedproductivity.com
Monday 20 May 2024
Paramount Resources increases dividend 20%.Another Kay Bob Duvernay winner
Friday 29 March 2024
Innergex Renewable is the smallest,but yet a quality utility in the Index
Growth versus Earnings
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Dale Mcintyre M.S.Sc.(econ) is a freelance writer that writes primarily for Zacks Researchy.
Thursday 11 January 2024
New kid on the Block -Duvernay Energy
As of January1,2024 Duvernay Energy will become a newly formed Canadian oil company.It will be formed by the combination of Cenovus (CVE) and Athabasca Oil(ATH).CVE will own 70% and ATH will own 30%.It will own 200,000 gross acres,most of it in the Montney and Duvernay region.It will inherit Kaybob acreage from Athabasca Oil and Cenovus Energy.Athabasca has 3 Duvernay pads in the Kabob region.Duvernay will own a pipeline network connected to Pembina Pipeline and Keyera Ppipeline.On January1,2024 Duvernay Energy will start off with production of 2000 boe/day.And the board will give guidance at the end of Q1 2024.
Monday 27 November 2023
Cenovus' total Production (upstream and downstream) now Exceeds Imperial Oil Production
Many investotrs don't realize the improvements that Cenovus has made since taking over Husky Energy about 2 years ago.For example,downstream production was about 100,000 boe/day in Q2 2021 but in Q2 2023 (as written in Econothon dated October 10,2023) downstream production was 650,000 boe/day.However downstream production in Q3 was 664,000 boe/day in comparison to Imperial Oil downstream production of 350,000 boe/dayThis is a tremenduous increase in downstream and total production.Econothon dated October10,2023 also stated that upstream production was 797,000 boe/day which was near the top end of guidance.Counting upstream and downstream production Cenovus is now one of the top 3 producers in the Canadian oil patch.
It cannot be overstated that Cenovus changed dramatically after it bought Husky Energy.Most analysts(including this blog thought that CVE would sell off one or both of the two refineries that it acquired in the deal.However in 2021 ans 2022 it refurbished the Superior and the Toledo,Ohio refineries.Consequently there was an additional 660,000 boe/day of downstream production in 2023.However in order to improve both refineries CVE had to takea substantial risk and add a lot of new debt.For example,in 2021 CVE had total debt of about $14 billion.But in 2022 and 2023 Cenovus reduced their debt.So that in Q3 2023 debt was reduced by another $1 billion to remain at $6 billion.And more debt will be eliminated in Q4.
Financial Highlights of Q3Friday 27 October 2023
Tucows "Dishes Out" of it's Problems
Saturday 26 August 2023
Crescent Point buys a Gem in Alberta Montney
On May 10 Crescent Point (CPG) closed a deal acquiring a bundle of land plus both producing and developing wells in the Kaybob Duvernay region of Alberta Montney area for $ 1.7 billion.This purchase and two previous ones ( in the Kaybob Duvernay area) has dramatically changed the profile of CPG.In 2021 CPG bought Kaybob Duvernay assets from Shell Canada for $900 million and in December,2022 purchased Kaybob Duvernay assets for $375 million from Paramount Resources.These 2 purchases plus the $1.7 billion purchase from Spartan Delta in May, 2023 have caused a substantial shift in the CPG profile. Consequently CPG had a quite positive Q1 report although the deal with Spartan Delta only closed on May10 so operating for only half of the quarter.
https://www.marketbeat.com/ www.motleyfool.com
Friday 19 May 2023
Northland Power shows satisfactory adj.EBITDA but drop in net income
My recent blog on Wordpress dated May 9 discussed the fact that in this lacklustre market utilities are a good sector to invest in.Two months ago (Feb.23) Northland Power reported it's fourth quarter and annual performance;it was an excellent report.It showed annual adjusted EBITDA of $1.4 billion which is a NPI record. And net income increased from $270 million in 2021 to $955 million for 2022.Earnings per share for 2022 were $3.80 and the price/earnings ratio was a paltry 7.7.