CALGARY, AB, May 12, 2026 /CNW/ - Paramount Resources Ltd. ("Paramount" or the "Company") (TSX: POU) is pleased to announce: (i) its first quarter 2026 financial and operating results, (ii) increased 2026 production guidance, which incorporates an earlier expected start-up of the second phase of the Alhambra Plant, and (iii) lower expected 2026 and 2027 capital expenditures, reflecting strong well deliverability and improving capital efficiencies. HIGHLIGHTS First quarter sales volumes [Read more]
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Calfrac Reports First Quarter 2026 Results
CALGARY, Alberta, May 12, 2026 (GLOBE NEWSWIRE) -- Calfrac Well Services Ltd. (“Calfrac” or “the Company”) (TSX: CFW) announces its financial and operating results for the three months ended March 31, 2026. The following press release should be read in conjunction with the management’s discussion and analysis and interim consolidated financial statements and notes thereto as at March 31, 2026. All financial amounts and measures are expressed in Canadian dollars unless otherwise [Read more]
The battle for Hormuz risks sparking the next Iran clash: Bousso
The Strait of Hormuz has emerged as the central battleground of the Iran conflict. The passage of a handful of oil and gas tankers in recent days, apparently with Tehran’s consent, hints at tacit acceptance of its control. This foreshadows a more dangerous phase in what is fast turning into a Hormuz war. Tehran’s near-complete closure of the vital trade artery since the joint Israeli-U.S. airstrikes on February 28 and the reciprocal U.S. naval blockade imposed last month have sent shockwaves [Read more]
Iran now defines Strait of Hormuz as far larger zone, IRGC officer says
Iran has expanded its definition of the Strait of Hormuz into a "vast operational area" far wider than before the Iran war, according to a senior officer in the Islamic Revolutionary Guard Corps (IRGC) Navy. The strait is no longer viewed as a narrow stretch around a handful of islands but instead has been greatly enlarged in scope and military significance, said Mohammad Akbarzadeh, deputy political director of the IRGC Navy, the state-affiliated Fars news agency reported on Tuesday. "In [Read more]
Top Asian LNG markets boost coal use as Iran war limits supply
Major Asian liquefied natural gas (LNG) importers Japan and South Korea ramped up coal-fired power generation in April and into early May, market data showed, as the Iran war disrupted supplies of the super-chilled fuel and boosted prices. Japan's gas-fired power supply hit two-year lows in April and South Korea's dropped to six-month lows, according to data from the Japanese Electricity Market Data Hub and Korea Power Exchange (KPX). The switch underscores how the conflict is reshaping power [Read more]
Oil rises as fading hopes of quick end to Iran war reignite supply worries
Oil prices rose 2% on Tuesday as hopes for a deal to end the U.S.-Israeli war on Iran faded, with stark differences between Tehran and Washington on a peace proposal bringing supply concerns again to the fore. Brent crude futures were up $2, or 1.9%, at $106.21 per barrel, while U.S. West Texas Intermediate gained $2.31, or 2.4%, to $100.38 by 0726 GMT. Both benchmarks climbed nearly 2.8% on Monday. U.S. President Donald Trump said on Monday the ceasefire with Iran was "on life support", [Read more]
A Trump-Xi deal could revive US energy exports to China
U.S. President Donald Trump will arrive in Beijing this week for a summit with President Xi Jinping on May 14 to 15, where U.S. officials say a deal for Beijing to buy more U.S. energy could be under consideration. Tariffs imposed during the U.S.-China trade war have halted most Chinese imports of U.S. oil and LNG, which were worth $8.4 billion in 2024, the year before Trump began his second term. Here is a summary of the major elements of that trade. LNG China's imports of U.S. [Read more]
Trican Reports First Quarter Results for 2026 and Declares Quarterly Dividend
Calgary, Alberta--(Newsfile Corp. - May 11, 2026) - Trican Well Service Ltd. (TSX: TCW) ("Trican" or the "Company") is pleased to announce its first quarter results for 2026. The following news release should be read in conjunction with Management's Discussion and Analysis ("MD&A"), the unaudited interim condensed consolidated financial statements and related notes for the three months ended March 31, 2026, as well as the Annual Information Form ("AIF") for the year ended December 31, 2025. [Read more]
Discount on Western Canada Select widens
The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures widened on Monday. WCS for June delivery in Hardisty, Alberta, settled at $15.95 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, 15 cents lower than Friday's close. * While the discount has narrowed since the start of the month, the differential for heavy Canadian crude remains wider than it was at the beginning of the U.S. war on Iran. * The WCS [Read more]
Ovintiv Reports First Quarter 2026 Financial and Operating Results
Efficiency, Best-in-Class Inventory, and Clean Balance Sheet Delivering Superior Returns Highlights: Generated first quarter cash from operating activities of $1.1 billion, Non-GAAP Cash Flow of $1.2 billion and Non-GAAP Free Cash Flow of $634 million after capital expenditures of $605 million Produced average first quarter volumes of 679 thousand barrels of oil equivalent per day ("MBOE/d"), at the high end of company guidance across all products including 225 thousand barrels per day [Read more]
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