Highlights from the Energy sector.
William Lacey, CFA; Waqar Syed; Patrick O'Rourke, CFA; Tim Monachello, CFA; Nate Heywood, CFA
ATB Capital Markets hosted the second day of its 9th Annual Institutional Investor Conference on Wednesday, January 13. We had presentations from seven panels, with participation from 23 companies, and hosted two fireside chats with Cenovus and MEG Energy. Overall, discussions from the conference had a cautiously optimistic tone, with energy services companies pointing to Canada for having a better outlook than the US (after several years of underperformance), largely on the back of structural improvements to pipeline egress, and speaking to their ability to generate free cash flow going forward. On the energy infrastructure side, we held three panel discussions which centered around capital allocation, diversification, and sustainability. Meanwhile, our panel discussion with three royalty companies offered unique insights into expected activity levels in the Western Canada Sedimentary Basin (WCSB) heading into 2021. The fireside chats were centered around how producers have shifted corporate strategy from growth to sustainability, and the role energy producers will play in Canada in order to meet future emissions targets. In the full report, we highlight the key takeaways and themes discussed throughout the day.
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