Latest news with #CanadianNatural
Business Insider
10-07-2025
- Business
- Business Insider
Analysts Offer Insights on Energy Companies: Canadian Natural (CNQ), Beach Energy (OtherBEPTF) and Obsidian Energy (OBE)
Companies in the Energy sector have received a lot of coverage today as analysts weigh in on Canadian Natural (CNQ – Research Report), Beach Energy (BEPTF – Research Report) and Obsidian Energy (OBE – Research Report). Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Canadian Natural (CNQ) In a report issued on July 8, Gregory Pardy from RBC Capital maintained a Buy rating on Canadian Natural, with a price target of C$64.00. The company's shares closed last Wednesday at $31.98. According to Pardy is a 5-star analyst with an average return of 19.4% and a 61.5% success rate. Pardy covers the NA sector, focusing on stocks such as Gran Tierra Energy, Vermilion Energy, and Parex Resources. Canadian Natural has an analyst consensus of Moderate Buy, with a price target consensus of $36.66. Beach Energy (BEPTF) In a report issued on July 8, Gordon Ramsay CFA from RBC Capital maintained a Hold rating on Beach Energy, with a price target of A$1.30. The company's shares closed last Monday at $0.86. According to CFA is a 1-star analyst with an average return of -2.9% and a 42.9% success rate. CFA covers the NA sector, focusing on stocks such as Origin Energy Limited, Karoon Energy Ltd, and Amplitude Energy. The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Beach Energy with a $0.88 average price target, a 2.7% upside from current levels. In a report issued on July 3, UBS also maintained a Hold rating on the stock with a A$1.35 price target. Obsidian Energy (OBE) In a report issued on July 8, Rob Mann from RBC Capital maintained a Hold rating on Obsidian Energy, with a price target of C$9.00. The company's shares closed last Wednesday at $6.01. According to Mann is ranked #5641 out of 9853 analysts. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Obsidian Energy with a $6.83 average price target.
CTV News
20-06-2025
- Business
- CTV News
Competition Bureau reaches deal with Canadian Natural Resources over gas processing
A flare stack burns off excess gas at a processing facility near Crossfield, Alta., Tuesday, June 13, 2023. (Jeff McIntosh / The Canadian Press) OTTAWA — The Competition Bureau says Canadian Natural Resources Ltd. has agreed to sell 75 per cent of its interest in its Seiu Lake natural gas processing plant to address competition concerns related to its proposed acquisition of Schlumberger N.V.'s (SLB) interest in the Palliser Block joint venture. Under a consent agreement with the regulator, Canadian Natural will sell a majority interest in the plant to North 40 Resources Inc., an oil and natural gas exploration company operating in the area. Financial terms of the agreement were not immediately available. North 40 will be the operator of the plant, while Canadian Natural will hold a non-operating 25 per cent interest in the facility. The SLB assets being acquired by Canadian Natural include SLB's 87.5 per cent stake in 16 natural gas processing plants in southeastern Alberta. The Competition Bureau had raised concerns the deal would reduce competition for gas processing services in the region. --- This report by The Canadian Press was first published June 20, 2025.
Winnipeg Free Press
20-06-2025
- Business
- Winnipeg Free Press
Competition Bureau reaches deal with Canadian Natural Resources over gas processing
OTTAWA – The Competition Bureau says Canadian Natural Resources Ltd. has agreed to sell 75 per cent of its interest in its Seiu Lake natural gas processing plant to address competition concerns related to its proposed acquisition of Schlumberger N.V.'s (SLB) interest in the Palliser Block joint venture. Under a consent agreement with the regulator, Canadian Natural will sell a majority interest in the plant to North 40 Resources Inc., an oil and natural gas exploration company operating in the area. Financial terms of the agreement were not immediately available. North 40 will be the operator of the plant, while Canadian Natural will hold a non-operating 25 per cent interest in the facility. The SLB assets being acquired by Canadian Natural include SLB's 87.5 per cent stake in 16 natural gas processing plants in southeastern Alberta. The Competition Bureau had raised concerns the deal would reduce competition for gas processing services in the region. Monday Mornings The latest local business news and a lookahead to the coming week. This report by The Canadian Press was first published June 20, 2025. Companies in this story: (TSX:CNQ)
Yahoo
04-06-2025
- Business
- Yahoo
Canadian Natural Resources restarts oil sands operation as wildfire risk lessens
By Amanda Stephenson CALGARY (Reuters) -Canadian Natural Resources has restarted its Jackfish 1 oil sands site in northern Alberta after determining wildfires in the region were a safe distance away. The country's biggest oil producer said late on Tuesday its operation at the site will ramp up over the next several days, targeting full production of approximately 36,500 barrels per day by Friday. Canadian Natural evacuated non-essential workers from its Jackfish 1 location and halted production as a precaution on Saturday due to wildfires burning south of Fort McMurray. The company is one of several whose operations in Canada's main oil-producing province have been disrupted due to out-of-control wildfires. About 344,000 bpd of oil sands production was offline earlier this week, representing approximately 7% of Canada's crude oil output, according to Reuters calculations. As of Wednesday morning, approximately 238,000 bpd of production remained halted at Cenovus Energy's Christina Lake oil sands facility. MEG Energy workers also remained evacuated from that company's Christina Lake regional project. There have been no reports of significant damage to oil infrastructure or company assets due to the fires. The fires are also weakening Canadian natural gas prices. Spot gas prices at Alberta's AECO hub fell to near zero this week (six cents per million British thermal units on Tuesday and 10 cents on Wednesday), likely due to lower demand from oil sands operations, according to consultancy Tudor, Pickering, Holt & Co.
Calgary Herald
26-05-2025
- Climate
- Calgary Herald
Wildfires erupt near northern Alberta oil well sites
Article content Hot weather sparked a string of wildfires around Alberta over the weekend, including some near oil and gas wells operated by Canadian Natural Resources Ltd. and others. Article content Article content Three out-of-control fires were burning in Alberta at noon Monday, including a 1,606-hectare blaze that prompted an emergency alert for the town of Swan Hills. That fire, burning eight kilometres from the town, is less than half a kilometre away from a CNRL-operated well site and within 20 kilometres of separate well sites operated by CNRL and other companies. Article content Canadian Natural didn't respond to a message seeking comment left late Sunday. Alberta Wildfire didn't respond to a phone call seeking comment. Article content An evacuation notice has been issued for Swan Hills, with residents in affected areas advised to prepare for a possible evacuation by gathering pets, important documents, medication and enough food, water and supplies for at least three days as well as adding fuel to vehicles. Article content This is an Alberta Emergency Alert. The Town of Swan Hills has updated a wildfire alert. A wildfire is burning 8 km North of the Town of Swan Hills. A one hour evacuation notice has now been put in place for the Town of Swan Hills. Everyone in the affected area should prepare… — Alberta Emergency Alert (@AB_EmergAlert) May 26, 2025 Article content Earlier this month, the province cancelled a planned Emergency Alert test due to increased wildfire activity. The alert has been used frequently to announce fires and evacuations in northern Alberta communities including Sturgeon County, Yellowhead County, Athabasca County, Parkland County, Hamlet of Fawcett and the Summer Village of Larkspur. Article content Article content Other communities, including the Village of Boyle and Thorhild County, issued local state of emergencies in May as a result of fast-moving and out-of-control fires. Article content Wildfire expert and professor at Thompson Rivers University in Kamloops, Mike Flannigan, has warned that Alberta's expected dry, hot summer increases potential for a busy fire season. Article content 'The forecast can be wrong, but right now it's supposed to be a hot, dry summer, especially in the south of Alberta,' he said, adding that a hot, dry summer generally means more fire. Article content The Bow Valley or Kananaskis Country is overdue for a big fire at some point, he said. Article content 'I'm not saying it's going to be this year, but I'm saying it's been primed for some time and one of these days we are going to see a big fire in that corridor,' said Flannigan. Article content Last year's fire in Jasper has experts fearing for a similar catastrophe in Banff. Article content 'It's just so primed to burn, you can't stop it — I don't think Banff has time,' Cliff White, a former Parks Canada forestry scientist, said last summer. Article content A wildfire in the area would be devastating, dwarfing the mega costs of the 2024 Jasper wildfire. Economic devastation would be amplified due to the Bow Valley's much larger population and visitor numbers. Article content That would also mean an increased chance of injuries or deaths of people, along with a bevy of negative impacts on the environment, wildlife, tourism, insurance rates, transportation and commerce, since vital rail lines and the Trans-Canada Highway run right through the area. Article content Wildfires present a regular threat to the province's oil and gas production, typically from March through October. Fort McMurray, the largest population center near Alberta's massive oilsands operations, was heavily damaged by a blaze in 2016 that forced thousands to evacuate and temporarily shut more than one million barrels of daily oil output.
