Latest news with #Ollenberger
Business Insider
25-05-2025
- Business
- Business Insider
Analysts Offer Insights on Energy Companies: Tamarack Valley Energy (OtherTNEYF), Suncor Energy (SU) and Cross Timbers Royalty (CRT)
Analysts have been eager to weigh in on the Energy sector with new ratings on Tamarack Valley Energy (TNEYF – Research Report), Suncor Energy (SU – Research Report) and Cross Timbers Royalty (CRT – Research Report). Confident Investing Starts Here: Tamarack Valley Energy (TNEYF) BMO Capital analyst Jeremy Mccrea maintained a Buy rating on Tamarack Valley Energy on May 7 and set a price target of C$6.50. The company's shares closed last Friday at $3.19. According to Mccrea is a 5-star analyst with an average return of 16.3% and a 52.1% success rate. Mccrea covers the NA sector, focusing on stocks such as Headwater Exploration, Paramount Resources, and PrairieSky Royalty. The word on The Street in general, suggests a Strong Buy analyst consensus rating for Tamarack Valley Energy with a $4.09 average price target, representing a 29.4% upside. In a report issued on May 7, Raymond James also upgraded the stock to Buy with a C$5.00 price target. Suncor Energy (SU) In a report issued on May 7, Randy Ollenberger from BMO Capital maintained a Buy rating on Suncor Energy, with a price target of C$65.00. The company's shares closed last Friday at $35.71. According to Ollenberger is a 5-star analyst with an average return of 10.9% and a 54.8% success rate. Ollenberger covers the NA sector, focusing on stocks such as ARC Resources, Imperial Oil, and MEG Energy. Suncor Energy has an analyst consensus of Moderate Buy, with a price target consensus of $43.34, representing a 23.9% upside. In a report issued on April 25, National Bank also maintained a Buy rating on the stock with a C$61.00 price target.
Business Insider
25-05-2025
- Business
- Business Insider
Analysts' Opinions Are Mixed on These Energy Stocks: MEG Energy (OtherMEGEF), Spartan Delta (OtherDALXF) and Cross Timbers Royalty (CRT)
Analysts have been eager to weigh in on the Energy sector with new ratings on MEG Energy (MEGEF – Research Report), Spartan Delta (DALXF – Research Report) and Cross Timbers Royalty (CRT – Research Report). Confident Investing Starts Here: MEG Energy (MEGEF) BMO Capital analyst Randy Ollenberger maintained a Buy rating on MEG Energy on May 7 and set a price target of C$28.00. The company's shares closed last Friday at $18.00. According to Ollenberger is a 5-star analyst with an average return of 10.9% and a 54.8% success rate. Ollenberger covers the NA sector, focusing on stocks such as ARC Resources, Suncor Energy, and Imperial Oil. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for MEG Energy with a $20.13 average price target, implying a 19.8% upside from current levels. In a report issued on May 7, RBC Capital also maintained a Buy rating on the stock with a C$31.00 price target. Spartan Delta (DALXF) In a report issued on May 7, Jeremy Mccrea from BMO Capital maintained a Buy rating on Spartan Delta, with a price target of C$5.00. The company's shares closed last Friday at $2.19. According to Mccrea is a 5-star analyst with an average return of 16.3% and a 52.1% success rate. Mccrea covers the NA sector, focusing on stocks such as Tamarack Valley Energy, Headwater Exploration, and Paramount Resources. Spartan Delta has an analyst consensus of Strong Buy, with a price target consensus of $3.97, representing an 81.0% upside. In a report issued on April 25, National Bank also maintained a Buy rating on the stock with a C$6.00 price target.
CBC
09-04-2025
- Business
- CBC
Keystone oil pipeline shut down after rupture in North Dakota
The Keystone oil pipeline was shut down Tuesday morning after it ruptured in North Dakota, halting the flow of millions of gallons of crude oil from Canada to refineries in the U.S. and potentially leading to higher gasoline prices in the U.S. South Bow, a liquid pipeline business, said it shut down the pipeline after control centre leak detection systems detected a pressure drop in the system. The spill is confined to an agricultural field in a rural area, about 100 kilometres southwest of Fargo. "The affected segment has been isolated, and operations and containment resources have been mobilized to site," the company said. "Our primary focus right now is the safety of on-site personnel and mitigating risk to the environment." The pipeline transported an average 624,000 barrels per day in 2024, according to the Canada Energy Regulator. It stretches 4,327 kilometres from Hardisty, Alta., to Texas. The impact on Canadian crude producers will depend on how long the outage lasts, said Randy Ollenberger, head of oil and gas research at BMO Capital Markets. "At this point, it's really having minimal impact on heavy oil pricing," he said. Storage tanks in Hardisty, southeast of Edmonton, have a lot of room to spare, and oil can be diverted there until Keystone is back up and running. Inventories had been drawn down pre-emptively ahead of possible U.S. tariffs, Ollenberger said. "As long as we don't have Keystone down so long that storage tanks start to fill up to capacity, it may not have much impact on the market." Prices at the gas pump could rise in the U.S. The pipeline's shutdown could quickly lead to higher gasoline prices in the Midwest, said Ramanan Krishnamoorti, vice-president for energy and innovation at the University of Houston. It will raise prices at the pump likely within one or two days, but will have a greater impact on diesel and jet fuel, Krishnamoorti said. The Keystone pipeline transports a large amount of a unique, heavy crude that only is available from limited sources, he said. "The refineries run on blends of crude so that they can get the product line that they want to deliver, whether it is gasoline, diesel, jet fuel, etc., and not having the supply of heavy crude is going to tilt their ability to make diesel and jet fuel," he said. "They will make less of diesel and jet fuel when they have less of the heavy crude." Higher diesel costs could lead to grocery price increases because diesel trucks transport those products, he said. The lead petroleum analyst at gasoline price tracker GasBuddy, Patrick De Haan, said that typically refineries have at least a few days' supply of crude oil on hand that will help insulate them from immediate impacts from the shutdown. But if the pipeline is shut for more than a few days or a week it could become problematic. He said some refineries in the Great Lakes region are also served by other pipelines run by Enbridge. The pipeline was shut down within two minutes of a 'bang' It wasn't clear what caused the rupture of the underground pipeline or the amount of crude oil released into the field. An employee working at the site near Fort Ransom heard a "mechanical bang" and shut down the pipeline within about two minutes, said Bill Suess, spill investigation program manager with the North Dakota Department of Environmental Quality. Oil surfaced about 270 metres south of a pump station in a field and emergency personnel responded, Suess said. No people or structures were affected by the spill, he said. A nearby stream that only flows during part of the year was not affected but was blocked off and isolated as a precaution, he said. The Pipelines and Hazardous Materials Safety Administration is sending a team to investigate the cause of the leak. Fort Ransom, a community of fewer than 100 people, is in a hilly, forested area of southeastern North Dakota known for scenic views and outdoor recreation. A state park and hiking trails are nearby. It's unclear at what rate the 80-centimetre pipeline was flowing, but even at two minutes "it's going to have a fairly good volume," Suess said. "But ... we've had much, much bigger spills," including one involving the same pipeline a few years ago in Walsh County, N.D., he said. "I don't think it's going to be that huge," Suess said. The pipeline has a history of past ruptures The Keystone Pipeline was constructed in 2010 at a cost of $5.2 billion and carries crude oil across Saskatchewan and Manitoba through North Dakota, South Dakota, Nebraska, Kansas and Missouri to refineries in Illinois, Oklahoma and Texas. Though the pipeline was constructed by TC Energy, it is now managed by South Bow as of 2024. A proposed extension to the pipeline called Keystone XL would have transported crude oil to refineries on the Gulf Coast, but it was ultimately abandoned by the company in 2021 after years of protests from environmental activists and Indigenous communities over environmental concerns. After a spill, the Pipeline and Hazardous Materials Safety Administration is responsible for investigating the root cause of the issue and any lack of compliance. The agency, which regulates liquid and natural gas pipelines, lost several senior-level executives earlier this year as part of President Donald Trump's federal cuts. PHMSA did not immediately respond to a request for comment. Bill Caram, executive director at industry watchdog Pipeline Safety Trust, said the organization already was "an under-resourced, underfunded agency." "To lose anyone will have an impact on safety," he said. After the last major Keystone pipeline spill in Kansas in December 2022, sections of the pipeline were offline for a little over three weeks before it resumed operating at a lower pressure. That spill of nearly 13,000 barrels of oil flowed into a creek traversing a pasture. An engineering consulting firm said the bend in the pipeline at the site had been "overstressed" since being installed in 2010, likely because of construction activity altering the land around the pipe. TC Energy said a faulty weld in the line's bend caused a crack that exacerbated over time. The Pipeline Safety Trust said this latest leak adds to the troubled history of the Keystone pipeline, which has had 13 significant incidents in the 15 years it has been operating.
Yahoo
17-03-2025
- Business
- Yahoo
BMO's top oil & gas analyst eyes four-way 'Montney Mash' mega merger
Bank of Montreal's veteran oil and gas analyst is making the case for a four-way mega merger in Western Canada's Montney Formation, arguing such a deal would boost scale and broaden investor appeal. One of North America's largest oil and gas reserves, the Montney Formation straddles the British Columbia-Alberta border. It's about the size of New Brunswick and Nova Scotia combined. Recent M&A action in the region includes Whitecap Resources' ( plan to merge with Veren ( in a $15 billion deal, and Ovintiv's ( recently closed $3.3 billion purchase of Montney assets from Paramount Resources ( 'M&A has been a popular investment theme in the oil and gas sector,' Randy Ollenberger, managing director at BMO Capital Markets, wrote in a research note on Friday. 'In Canada, investors have long pondered the need for consolidation in the Montney.' Companies in his hypothetical four-way 'Montney Mash' deal include Advantage Energy ( Birchcliff Energy ( NuVista Energy ( and Kelt Exploration ( 'A merger between the remaining Montney intermediates could translate to potential cost savings through shared tax pools, reduced [selling, general and administrative] costs, better capital efficiencies, and a lower cost of debt,' Ollenberger wrote. 'A larger entity may also be able to access higher-priced natural gas hubs.' He says the hypothetically combined entity currently trades at a steep discount to peers, highlighting a 'valuation disconnect' for companies like Birchcliff and NuVista. Birchcliff shares soared by double-digits last week, after the company raised its 2025 guidance in anticipation of higher prices. 'Bigger producers can leverage their size/scale to secure long-term contracts with newer and more efficient service equipment. We suspect if the four entities merged, they could have similar negotiating power that could help improve capital efficiencies,' Ollenberger wrote. 'We estimate that this could save [about] $145 million of capital spending.' However, he admits that a four-way merger would be 'unusual and complicated,' adding that smaller respective deals between Advantage and Birchcliff, and NuVista and Kelt are more likely. 'While these more traditional mergers could lead to some cost savings, they likely don't create the scale needed to gain incremental U.S./LNG price exposure and higher institutional interest.' Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android. Sign in to access your portfolio
