Gibson Energy Inc. is maintaining talks about expansions and its energy transition goals as it stacks gains from the first three months of the year thanks to increased commodity prices.

canada production graph

The Calgary oilfield service firm’s gains were led by the oil marketing business, according to the company. Volumes grew by 20% to 58,088 b/d in 1Q2022 from 48,539 b/d in 1Q2021.

Profits, reported in Canadian dollars (C$1.00/US 80 cents), more than quadrupled in the marketing segment to $30.6 million from $4.8 million in 1Q2021. The marketing line, sold across Canada and the United States, includes crude, natural gas liquids, road asphalt, roofing material, fracturing oils, distillates and an oil-based drilling mud.

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