AltaGas reports strong second-quarter thanks to Montney assets

FORT ST. JOHN, B.C. — Canadian oil company AltaGas is reporting strong second-quarter results and earnings. 

The oil company is based in Calgary, Alberta with operations in the Montney region of B.C. and delivered 127,814 barrels per day (Bbl/d) to Asian markets from April 1st to June 20th, an increase of four per cent compared to the previous year.

“We’re pleased with our strong second-quarter performance, which reflects continued execution of our strategic priorities and positions us well to meet our 2025 guidance,” Vern Yu, president and CEO of AltaGas, said. 

AltaGas also reported successes with its global exports as well during the quarter, with companies such as Keyera, Pembina Pipeline and BASF Intertrade AG all signing agreements with AltaGas for tolling and butane exports. 

Normalized earnings per share (EPS), or the amount of income belonging to each share after adjustments for expenses, was noted by Altagas at $0.27 during the quarter. This is an increase on the $0.14 per share calculated in the second quarter of 2024. 

AltaGas’s EBITDA, or core profitability after removing interest, taxes and depreciation, was up  16 per cent compared to last year, sitting at $342 million.

The company’s Midstream assets, which include Pipestone II and the Ridley Island Energy Export Facility, also saw a major increase in EBITDA, $215 million compared to the second quarter of 2024, which saw Midstream at $175 million. 

These increases are due to “strong global exports performance” and higher gas processing volumes from the company’s Montney facilities, it said.  

Ultimately, AltaGas reiterated its 2025 full-year estimates that the company would have an EBITDA of between $1,775 million and $1,875 million, and EPS of between $2.10 and $2.30. 

To read the complete second quarter report, see below.