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Generally speaking, the third quarter was positive for many in the Canadian oil patch. After Q2 saw production curtailments related to the Alberta Wildfires, Q3 was a period of normalization for exposed producers. In addition, favourable macro trends led to improved realized pricing for E&Ps across Canada. To summarize this earnings season, our team has put together another Earnings Season Report Card. We’ve changed our format for this quarter, focusing in on the top 10 performers in each category. BOE Intel subscribers will have access to the data for all companies. Part 1 will focus on production and financial metrics, while we will evaluate companies’ per barrel metrics in Part 2. To revisit prior quarters, check out the 2023 Earnings Season Report Cards from Q2 ( Part 1 and Part 2 ) and Q1 ( Part 1 and Part 2 ). Liquids Production In Q3 2023, the median company in our dataset saw liquids production increase by just over 2.3% compared to the second quarter. Even more notable, the entire top 10 by % change in liquids production saw production growth of over 10%. Baytex saw the strongest growth in Q3, driven largely by the incorporation of assets from […]
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