'audience' : 'News', Marathon Oil Corp. posted a second quarter 2020 net loss of $750 million, compared to net income of $1.1 billion for second-quarter 2019. Encana shareholders have voted overwhelmingly in favour of the oil and gas company moving its headquarters to Denver from Calgary and changing its name to Ovintiv Inc. Formed in 2002 by the merger of PanCanadian Energy Corp. and Alberta Energy Co. Ltd., Encana in the past several years has shifted its operational focus to onshore US resource plays while maintaining its footholds in Canada’s Montney and Duvernay onshore developments. To order Jayaram has a neutral rating on Ovintiv, Well costs and results are areas of focus Diamondback Energy's second-quarter 2020 net loss of $2.39 billion includes a non-cash impairment charge of $2.54 billion as a result of the lower SEC pricing due to the sharp decline in commodity prices. Its purchase of Newfield didn’t help as it reversed course on a strategy of slimming its oil and gas portfolio. She added, “It is no coincidence that today’s news is being announced after the federal election” on Dec. 21, in which the Liberal Party was reelected with a minority. expressly prohibited without the prior written consent of Toronto CALGARY - Shareholders in Encana Corp. have voted overwhelmingly in favour of the oil and gas company moving its headquarters to Denver from Calgary and changing its name to Ovintiv Inc. CEO Doug Suttles says the 90 per cent vote in favour of the resolution shows clear support for the long-standing Canadian company’s decision to move its corporate home south of the border, despite public criticism from Encana founder Gwyn Morgan and shareholder Letko, Brosseau & Associates Inc. Encana announced the changes in October as part of a reorganization that includes a one-for-five share consolidation, also approved by shareholders on Tuesday. Devon Energy Corp., Oklahoma City, posted a net loss of $670 million in second-quarter 2020 compared to a net loss of $1.8 billion in first-quarter 2020. Newspapers Limited, One Yonge Street, 4th floor, Toronto, ON, M5E 1E6. When an unexpected explosion or hurricane strikes, how can Oil & Gas companies ensure door assemblies will protect personnel and equipment? }. Parsley Energy Inc. reactivated two rigs and two frac spreads in July and, if prices do not deteriorate, the company anticipates moving to a stabilized activity level of four to five rigs and one to two frac spreads early in this year’s fourth quarter. Industry testing is important but two additional factors are critical in specifying the right door. Divya Balji, Bailey Lipschultz. rights reserved. The company plans a consolidation and share exchange offering one share of common Ovintiv stock for every five shares of Encana. 'longevity' : 'News', Rates Ovintiv’s stock as a sector perform, Shares are in the “penalty box,” and performance can improve if Ovintiv can “demonstrate improving profitability in the Anadarko basin.” With the company “spudding its first cube style development” in April, Jawanda seeks any additional update with respect to its development plan for this year Michael Bellusci in Toronto at [email protected], To contact the editors responsible for this story: The Stack and Scoop fields in the Anadarko Basin have faced investor scrutiny and operational challenges that sent a handful of small explorers into bankruptcy. BP reported a net loss of $16.8 billion for the second quarter of 2020, compared with a profit of $1.8 billion for the same period a year earlier. It reported third-quarter production of 605,000 b/d of oil-equivalent oil and natural gas, of which 237,000 b/d was crude oil and condensate.

It says a corporate domicile in the United States will expose it to increasingly larger pools of investment in U.S. index funds and passively managed accounts, as well as better align it with its U.S. peers.

Brad Olesen at [email protected] Oil Down on Surging Virus and Stimulus Stalemate, Oil and Gas Digitalization Budgets Avoid Slashing, North America Oil Bankruptcy Debt Hits All Time High, Shale Deal Must Navigate Potential Conflict. All rights reserved. Continental Resources, the largest producer in North Dakota's Bakken formation, reported a net loss of $239.3 million for the second quarter of 2020 on weaker oil volumes and oil price realizations. EOG Resources Inc. has narrowed its 2020 capex to $3.4-3.6B and raised its 2020 oil production guidance 4% to 402,600-409,200 b/d on lowered curtailments and plans to drill two additional wells in Trinidad over the remainder of the year. Sees the company providing more of its 2020 program details during 4Q earnings release in February Republication or distribution of this content is © 2020 Endeavor Business Media, LLC. The company will establish its corporate domicile in the US and change its name to Ovintiv Inc. Encana Corp., once a Calgary oil and gas industry anchor that late last year adopted a “headquarters-less model,” is formally moving south. Here’s what analysts will be watching for on the one-hour Anadarko Basin webcast which is slated to start at 4:30 p.m. eastern standard time. 'author' : 'Bloomberg', 'published_date' : '2020-01-29', Encana changing its name, moving headquarters to the U.S. 10/31/2019 CALGARY - Encana Corporation announced its intention to establish … 'sector' : 'Industry_Headlines', Off-topic, inappropriate or insulting comments will be removed. Murphy Oil Corp. reduced its full year budget an additional $40 million at the midpoint, to $680-720 million, and with the revised budget, anticipates production volumes of 153,000-163,000 boe/d for the third quarter.

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