CALGARY, Alberta, Feb. 19, 2026 (GLOBE NEWSWIRE) -- Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to announce the closing of its previously announced acquisition of operated, oil-weighted Cardium assets in the Harmattan area of Alberta (the “Acquisition”), the closing of its associated equity financings, and the approval of its 2026 capital budget and guidance. CLOSING OF HARMATTAN ACQUISITION Petrus is pleased to announce the closing of its previously announced [Read more]
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Russia warns of escalating Iran tensions amid U.S. military build up
Russia warned against an "unprecedented escalation of tension" around Iran on Thursday and urged restraint amid a U.S. military build-up in the region that a senior American official said should be complete by mid-March. U.S. threats to bomb Iran, with the two sides far apart in talks on Tehran's nuclear programme, have pushed up oil prices and a Russian corvette on Thursday joined planned Iranian naval drills in the Gulf of Oman, a vital sea route for global energy. Iranian and U.S. [Read more]
Obsidian Energy Announces Fourth Quarter and Full Year 2025 Results
• Average production of 27,971 boe/d in the fourth quarter, generated $56.6 million of funds flow from operations • Successful 2025 capital program including waterflood initiatives resulted in reserve replacement ratios over 100% • Active prepaid equity forward program in Q4/25 and into 2026 with a total of 4.3 million shares purchased Calgary, Alberta--(Newsfile Corp. - February 19, 2026) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or [Read more]
Canada’s Cenovus Energy posts higher fourth-quarter profit on higher production
Canadian oil and gas producer Cenovus Energy posted a rise in fourth-quarter profit on Thursday, helped by higher upstream production. Canadian oil sands producers, including Cenovus, have remained resilient amid a global oil industry downturn, supported by years of investment that have made them among North America's lowest-cost producers. The country's oil producers are also gaining from the expanded Trans Mountain pipeline, which opens access to global markets and lessens their [Read more]
Cenovus announces fourth-quarter and full-year 2025 results
CALGARY, Alberta, Feb. 19, 2026 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced its fourth-quarter and full-year 2025 financial and operating results. In the quarter, the company generated approximately $2.4 billion in cash from operating activities, $2.7 billion of adjusted funds flow and $1.3 billion of free funds flow. Operating results in the quarter included record Upstream production of 917,900 barrels of oil equivalent per day (BOE/d)1 and Downstream crude [Read more]
Oil companies jostle for projects to boost Venezuelan output quickly; a real grind awaits
In September, a rig used to drill wells in shallow waters completed the long trip from China to Venezuela's oil-producing region of Lake Maracaibo. The passage of the big old rig named Alula just inches below the bridge connecting Maracaibo city with the oilfields of the lake's eastern coast stirred excitement among residents and workers: they had not seen any new drilling equipment arrive for years due to U.S. sanctions. The rig hit an oil pipeline as it passed through the lake and over the [Read more]
US Energy Secretary Wright pressures IEA to quit net zero agenda
The U.S. Energy Secretary Chris Wright gave the International Energy Agency on Thursday a one-year deadline to move away from its net zero climate-focused agenda or risk losing the U.S. as a member. In 2015 the U.S. and nearly 200 other countries signed the Paris Accords, an international pledge to limit global warming by burning less oil, gas, coal, with a goal of reaching 'net zero' greenhouse gas emissions by 2050. "There has been such a group mentality, 10 years invested in a [Read more]
Discount for Russia’s Urals crude oil is deepest since 2023, data shows
Russia's flagship Urals oil blend is being sold from its Baltic ports at the deepest discounts for around three years compared to the global benchmark Brent crude, according to Reuters data. The discount, a consequence of Western sanctions imposed on Russia over the war in Ukraine, is important because lower oil prices hit the government's budget. State budget revenues from oil and gas dropped by 24% in 2025 to the lowest level since 2020, according to Finance Ministry data, as [Read more]
Oil prices extend gains on concerns of potential US-Iran conflict
Oil prices rose in Asian trade on Thursday as the U.S. and Iran attempted to ease a standoff in talks over Tehran's nuclear programme while both sides heightened military activity in the key oil-producing region. Brent futures climbed 24 cents, or 0.3% to $70.59 a barrel by 0415 GMT, while U.S. West Texas Intermediate (WTI) crude gained 28 cents, or 0.4%, to trade at $65.47 a barrel. Both benchmarks settled more than 4% higher on Wednesday, posting their highest settlements since January [Read more]
Crude oil’s current Iran premium assumes no supply disruption: Russell
The premium currently built into the crude oil price over tensions between the United States and Iran fluctuates according to the daily headlines, but there is an underlying assumption that everything will turn out fine. Global benchmark Brent futures jumped 4.4% on Wednesday to close at $70.35 a barrel, the highest finish since January 30. The increase was largely driven by news reports that Iran and Russia will conduct navy drills in the Sea of Oman and the northern Indian Ocean on [Read more]
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