BOE Report

BOE Report Staff

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Bullish surprise – OPEC+ increases quotas by 137,000 bbl/d, defying rumours of a larger increase

Oil prices rallied more than 1% as futures opened Sunday night, after OPEC+ announced a smaller-than-expected production increase of 137,000 bbl/d, far below the 500,000 bbl/d hike speculated by media reports last week. The decision follows OPEC+’s denial of earlier rumors about a half-million-barrel boost, reinforcing its commitment to gradual, coordinated adjustments. The next OPEC+ policy meeting is scheduled for November 2. Analysts noted that the decision reflects both supply-side [Read more]

MEG Shareholders Set to Vote on Critical Decision – Cenovus vs. Strathcona vs. Going it Alone

The contest for MEG Energy is entering its final stages, with two competing bids on the table and shareholders set to vote in October. The upcoming votes will determine whether MEG is acquired by Cenovus, taken over by Strathcona, or remains independent. Key Dates Ahead Several important dates now define the timeline: October 7: Proxy voting deadline for MEG shareholders on the Cenovus arrangement. October 9: Special shareholder meeting to vote on Cenovus’s bid. [Read more]

Alberta leads as proponent for West Coast pipeline

Alberta’s government, acting as proponent, will lead a technical advisory group of companies with Indigenous participants to advance a West Coast pipeline application. With the advice and technical support of three major pipeline companies, Alberta’s government, acting as proponent, will develop and submit a formal application for a project of national significance to the Federal Major Projects Office under the Building Canada Act. Indigenous communities in Alberta and British Columbia are [Read more]

The Miracle of Cheap Energy—and What Happens If It Ends

For more than a decade, cheap energy has been one of the underappreciated pillars of U.S. economic and stock market strength. Since the shale revolution around 2010, the discovery and rapid scaling of unconventional oil and natural gas transformed America’s energy landscape. Not only did it reshape geopolitics, but it also provided U.S. companies with a durable cost advantage that helped propel record profit margins and equity valuations. The question now is whether that “miracle” of cheap [Read more]

Topaz acquires Montney royalty assets for $71.7 MM – Acquisition Summary

Acquisition Announcement Company: Topaz Energy Corp. (TSX: TPZ) Transaction: Entered into definitive agreements with Tourmaline Oil Corp. Details: Acquiring gross overriding royalty interests on ~134,000 gross acres in NEBC Montney. Over 65% of the land is undeveloped. Includes ~410 future tier-one Montney drilling locations with multi-zone upside. Aligns Topaz with Tourmaline’s long-term Montney growth strategy. Purchase Price: $71.7 [Read more]

New oil and gas jobs from BOE Report Jobs

Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Sep. 30 Journeyperson Electrician Strike Group All Areas Sep. 30 3rd/4th Year Apprentice Electrician Strike Group All Areas Sep. 30 3rd/4th Year Apprentice [Read more]

Energy Briefing AM – What Moved Overnight

Morning Oil & Gas Briefing September 30, 2025 What Moved Overnight WTI crude oil: $62.11/bbl (−2.1%) - Goldman Sachs on Tuesday said that it expects OPEC+ to raise oil production quotas by 140,000 barrels per day for November, ahead of the group's meeting on Sunday. U.S. natural gas (Henry Hub): $3.33/mcf (+ 1.9%) CAD/USD (USD per CAD): 0.71855 (−0.02%) Canadian Headlines Imperial Oil to reduce workforce by ~20% by 2027: company plans a multi-year [Read more]

First Canadian Installation of PrimeSET™ Single Trip System Streamlines Montney Completion

Montney Formation, Canada Packers Plus has successfully completed the first installation of the PrimeSET™ Single Trip Liner Hanger in Canada’s Montney formation—a significant milestone for both the operator and Packers Plus, and a major step forward for the liner hanger industry. Designed for efficiency and reliability, the PrimeSET system streamlines operations and reduces rig time by enabling deployment on tie-back casing. Background An operator in Canada had traditionally deployed [Read more]

Money for Nothing and the Natural Gas for Free – AECO Natural Gas Still Can’t Catch a Break

Canadian natural gas producers have endured one of the weakest pricing environments in recent memory. Even with the much-anticipated start-up of LNG Canada—an export facility designed to connect Canadian supply to global markets—domestic prices have stubbornly refused to break free of their slump. At times, they’ve even dipped into negative territory, underscoring just how imbalanced the market has become. Prices Falling Through the Floor Western Canadian gas hubs, particularly AECO, have [Read more]

New North Resources Ltd. – Non-Core Property Divestiture

New North Resources Ltd. (“New North” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with the sale of its non-core oil and natural gas interests located in the Deer Mountain area of Alberta (the “Property”). The Property consists of the Company’s non-operated 3.2% working interest in the Deer Mountain Unit No. 2. Average daily production net to New North from the Property for the quarter ended June 30, 2025 was approximately 36 boe/d, consisting of 35 barrels of [Read more]