Latest news with #BirchcliffEnergy
Business Insider
16-07-2025
- Business
- Business Insider
Birchcliff Energy (BIREF) Gets a Buy from RBC Capital
RBC Capital analyst Michael Harvey maintained a Buy rating on Birchcliff Energy on July 14 and set a price target of C$8.00. The company's shares closed yesterday at $5.12. Elevate Your Investing Strategy: 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. According to TipRanks, Harvey is a 5-star analyst with an average return of 17.0% and a 56.85% success rate. Harvey covers the Energy sector, focusing on stocks such as Peyto Exploration & Dev, ARC Resources, and Advantage Energy. The word on The Street in general, suggests a Strong Buy analyst consensus rating for Birchcliff Energy with a $5.75 average price target. BIREF market cap is currently $1.38B and has a P/E ratio of 14.08. Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BIREF in relation to earlier this year.
Calgary Herald
14-07-2025
- Sport
- Calgary Herald
'Best feeling in the world': Chanse Vigen captures first Rangeland Derby title with 'rockstar' drive
Article content 'The Rangeland Derby Rockstar' finally lived up to his nickname. Article content Chanse Vigen did what he wasn't able to do last year and outraced Jason Glass across the finish line in the championship final heat of the 2025 Rangeland Derby presented by Play Alberta. Article content 'I just feel like I've been working towards this my whole life,' said Vigen, who's originally from Grande Prairie, Alta., but now lives in Calgary with his wife Brie. 'I just feel so relieved.' Article content Article content 'I wasn't trying to rock anything,' said Vigen in regards to winning chuckwagon's ultimate prize in his fourth trip to the final heat. 'I just wanted to win the race and I've never wanted something so bad. It's the best feeling in the world. There's a lot of emotion running through me right now. It's the best night of my life.' Article content After finishing third one year ago, Vigen was able to execute a perfect figure-eight turn around the barrels in his wagon to secure his spot along the rail before racing around the Stampede Park track in 1:13.44 to beat Glass — the defending champion — and his Birchcliff Energy outfit across the line by 1.27 seconds. Article content In his first time competing in the Rangeland Derby final, Jamie Laboucane (Panorama Advisory Group) hit a barrel and wound up in third spot. Article content Article content 'You're never comfortable when you're hooked (with) Jason Glass and Jamie Laboucane,' said Vigen, who finished third in last year's final. 'They're the two fiercest competitors out there, probably not to take anything away from anybody. They're just so tough and consistent and loaded with horsepower, and it was a tough race. I don't know if there was a favourite to win the race tonight. Anybody could have won that race, and our horses just responded and answered the bell.' Article content Racing down the final stretch and hearing the roar of crowd at GMC Stadium was something Vigen will never forget. Article content 'I saw my whole life flash before my eyes,' said Vigen, who looked back to make sure his outriders Rory Gervais and Ethan Motowylo were behind him, which they were. 'I knew we were going to win.' Article content Outrider Trey MacGillivray, who also worked with the team throughout the 10-day show, also accompanied Vigen to the stage to be honoured for his efforts.
Reuters
10-07-2025
- Business
- Reuters
LNG Canada's start-up yet to lift gas prices amid supply glut
CALGARY, July 9 (Reuters) - Last month's start-up of LNG Canada, the country's first large-scale liquefied natural gas export facility, has failed to lift Western Canadian natural gas prices as quickly as some market participants and observers expected, due to a persistent supply glut and the gradual pace of the facility's ramp-up. Shell-led (SHEL.L), opens new tab LNG Canada shipped its first cargo of 70,000 metric tons from the country's Pacific coast on June 30, to South Korea. The export facility, located in northern British Columbia, is anticipated to bring 2.1 billion cubic feet per day (bcfd) of new gas demand to Western Canada, and help gas prices recover from an extended period of weakness from oversupply and warmer winters that have reduced home heating demand. That boost to prices has yet to materialize. While prices at the Alberta Energy Company (AECO) storage hub have come off last year's lows of 5 cents per million British thermal units, it is still hovering around $1.10 per mmBtu, approximately a third the value of the U.S. Henry Hub benchmark price, according to LSEG data. "We're probably a dollar off where we thought in January we'd be," said Chris Carlsen, CEO of gas producer Birchcliff Energy ( opens new tab. The recent downward trend in the forward price curve for Western Canadian gas indicates the market believes it may now take longer than previously expected to draw down supply, said Trevor Rix, director of intelligence with Enverus. Producers have been ramping up output in expectation of LNG Canada coming online, Rix said. LNG Canada, the first of a handful of Canadian LNG projects, in late June started up Train 1, which has a capacity of 6.5 million tonnes per annum (mtpa), or half of the total output of the facility when the second train comes online. Canadian gas production hit a record high in 2024, averaging 18.35 bcfd, according to statistics from the Canada Energy Regulator. For the first quarter of 2025, production averaged 19.24 bcfd, which would result in record production this year if the trend continues. Gas storage capacity in Western Canada is essentially full, at 635 billion cubic feet in inventories. LNG Canada has been using under 400 million cubic feet per day, well below the first train's design capacity because of a problem with one of the lines at Train 1, two people familiar with the plant's operation told Reuters. Repairs are under way and Train 1's production is expected to increase over the next three weeks, putting full output of 1 billion bcfd closer to the end of August, the people said. The second train is not expected to achieve full production until next year. It is normal for LNG facilities to take months to achieve full production, said Mike Belenkie, CEO of Calgary-based gas producer Advantage Energy ( opens new tab. While he said most Canadian gas drillers have strong enough balance sheets to ride it out until the market improves, the extended downturn has weakened companies' abilities to return capital to shareholders. "We're instead all in a holding pattern," Belenkie said. Weather conditions in Western Canada this summer are also contributing to the gas oversupply, as fewer extreme heat days have meant less demand for air conditioning. There are approximately 200 drilled but uncompleted wells in British Columbia's Montney gas-producing region currently, about double the norm, according to Enverus data. That is a sign producers have recognized the imbalance in the market and are holding off bringing new wells online until prices improve, Rix said.
Yahoo
08-04-2025
- Business
- Yahoo
Canadian oil and gas CEOs avoiding 'rash' decisions during price rout
By Amanda Stephenson TORONTO (Reuters) - The CEOs of two Canadian oil and gas producers said on Tuesday they are seeking to avoid making rash decisions, as global oil prices hover around four-year lows and recession fears grow. Doug Bartole, CEO of Calgary-based InPlay Oil, said his company does not foresee reducing production or capital spending in the short term, despite the recent tariff-related fall in oil prices. "Don't make any rash decisions. Let's take a longer view of things and see where it all settles out," Bartole said in an interview in Toronto. But he said that could change if oil continues its slide. "I think $50 oil would change things a bit more, obviously," Bartole said. "We can easily pull back capital. We're a small company, we're nimble. We make decisions quick." Brent futures and West Texas Intermediate crude futures have slumped since U.S. President Donald Trump's April 2 announcement of broad tariffs. Oil prices steadied on Tuesday as a recovery in equity markets was outweighed by recession fears exacerbated by trade conflict between the United States and China, the world's two biggest economies. Brent futures were up 33 cents, or 0.5%, at $64.54 a barrel at 1400 GMT. WTI crude futures rose 41 cents, or 0.7%, to $61.11. Chris Carlsen, CEO of Canadian natural gas producer Birchcliff Energy, said the sector is concerned about the potential for a global recession, though he said many Canadian companies are well-positioned to handle a $60 oil price environment. He said the slide in oil prices could benefit natural gas producers in the long term if it leads to an overall reduction in North American drilling. "When they're drilling less oil, there's less associated gas with that, which means we could be short on the natural gas production side," Carlsen said. Sign in to access your portfolio
Reuters
08-04-2025
- Business
- Reuters
Canadian oil and gas CEOs avoiding 'rash' decisions during price rout
TORONTO, April 8 (Reuters) - The CEOs of two Canadian oil and gas producers said on Tuesday they are seeking to avoid making rash decisions, as global oil prices hover around four-year lows and recession fears grow. Doug Bartole, CEO of Calgary-based InPlay Oil ( opens new tab, said his company does not foresee reducing production or capital spending in the short term, despite the recent tariff-related fall in oil prices. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. "Don't make any rash decisions. Let's take a longer view of things and see where it all settles out," Bartole said in an interview in Toronto. But he said that could change if oil continues its slide. "I think $50 oil would change things a bit more, obviously," Bartole said. "We can easily pull back capital. We're a small company, we're nimble. We make decisions quick." Brent futures and West Texas Intermediate crude futures have slumped since U.S. President Donald Trump's April 2 announcement of broad tariffs. Oil prices steadied on Tuesday as a recovery in equity markets was outweighed by recession fears exacerbated by trade conflict between the United States and China, the world's two biggest economies. Brent futures were up 33 cents, or 0.5%, at $64.54 a barrel at 1400 GMT. WTI crude futures rose 41 cents, or 0.7%, to $61.11. Chris Carlsen, CEO of Canadian natural gas producer Birchcliff Energy ( opens new tab, said the sector is concerned about the potential for a global recession, though he said many Canadian companies are well-positioned to handle a $60 oil price environment. He said the slide in oil prices could benefit natural gas producers in the long term if it leads to an overall reduction in North American drilling. "When they're drilling less oil, there's less associated gas with that, which means we could be short on the natural gas production side," Carlsen said.
