22:39:33 EDT Fri 03 May 2024
Enter Symbol
or Name
USA
CA



Bank of Montreal
Symbol BMO
Shares Issued 729,249,364
Close 2024-04-22 C$ 127.36
Market Cap C$ 92,877,198,999
Recent Sedar Documents

Post says BMO's Wells sees risk of water restrictions

2024-04-22 07:16 ET - In the News

The Financial Post reports in its Monday edition that Canadian energy producers say they are prepared and ready for what could be another spring and summer of drought and wildfires in Western Canada. A Canadian Press dispatch to the Post says that many of this country's largest conventional oil and gas drillers operate in regions which last year were affected by severe hot, dry weather conditions. As early as the start of last May, oil and gas companies in northwest and central Alberta as well as northeast British Columbia found themselves temporarily halting production as wildfires raged across key fossil-fuel-producing regions. Now, as this year's snow melts and springlike conditions return to Western Canada, oil and gas producers are prepared for what could be another fiery year. Brad Wells at oil-sands-backer BMO Capital Markets, said that while weather is unpredictable, both drought and wildfires are significant risks that Canada's energy sector needs to be prepared for. "I think there's the potential for water restrictions to impact well completions activity, and water draws from the Athabasca River for the oil sands. So drought is definitely something we're watching," Mr. Wells said from Toronto.

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