The Trump administration is allowing China to purchase Venezuelan oil but not at "unfair, undercut" prices at which Caracas sold the crude before the U.S. removed its leader Nicolas Maduro, an administration official said on Thursday. While the oil will be sold in the global marketplace, the U.S. administration has required that the majority be sold to the United States, the official said on condition of anonymity. The U.S. says it will control Venezuela's oil sales indefinitely after seizing [Read more]
News
Largest US electric grid expects all-time record winter demand
Winter electricity demand on the largest U.S. power grid - the PJM Interconnection - is expected to set an all-time record next week as large swaths of the United States brace for an Arctic blast of cold weather. PJM's seven-day forecast on Thursday morning predicted 144,465 megawatts of demand on January 27. That would top PJM's all-time winter high of 143,700 set in January 2025. PJM is the biggest grid operator in North America, serving 67 million people in 13 states and Washington, [Read more]
Kimmeridge to nominate Scott Sheffield to Coterra Energy board, WSJ reports
Investment firm Kimmeridge plans to nominate former Pioneer Natural Resources CEO Scott Sheffield to Coterra Energy's board, the Wall Street Journal reported on Thursday, citing people familiar with the matter. Kimmeridge has said Coterra's board must reassess its leadership structure and appoint an independent, non-executive chair, the report said, adding that it expects to nominate four more people to the board. In November, activist investor Kimmeridge called for an overhaul of [Read more]
Early Warning Reporting – Disposition of Shares of Baytex Energy Corp.
Jan 22, 2026, 08:55 ET HOUSTON, Jan. 22, 2026 /CNW/ - Juniper Capital Advisors, L.P. ("Juniper") announces that on January 21, 2026, Juniper RCR Holdings, LLC ("Juniper RCR"), an entity controlled (directly or indirectly) by Juniper, entered into an agreement to sell 20,265,188 common shares of Baytex Energy Corp. ("Baytex") to certain arms' length persons in a private transaction effected by way of block-trade, at a price of US$3.354 per common share, for aggregate net proceeds of [Read more]
Venezuela’s proposed oil reform to give autonomy to companies to operate, cash sales -documents
A profound proposed reform of Venezuela's hydrocarbons law would allow foreign and local companies to operate oilfields on their own through a new contract model, commercialize output and receive sale proceeds even if acting as minority partners of state company PDVSA, drafts seen by Reuters on Thursday showed. Venezuela's interim President Delcy Rodriguez last week submitted the reform proposal, expected to deeply modify the backbone of the OPEC country's oil industry by changing late President [Read more]
“Results from the Grand Rapids are crushing our expectations” – Headwater encouraged by success of its new oil play – StackDX Intel
Headwater released an operations update late last week, with the full press release accessible here. While a small part of the company's overall production, Headwater Exploration pointed out the success it is having with its new Grand Rapids oil play in Marten Hills West, excerpt below: Grand Rapids Formation in Marten Hills West Results from the Grand Rapids are crushing our expectations. Our first production commenced from the Grand Rapids in May 2025, and this zone now contributes [Read more]
Westgate Energy provides operational update
CALGARY, AB, Jan. 22, 2026 /CNW/ - Westgate Energy Inc. ("Westgate", the "Company", "we" or "our") (TSXV: WGT), is pleased to provide an operational update following the initial startup of its three recently drilled Mannville Stack oil wells in the Beaverdam area of Alberta. Fall 2025 Drilling Program Results The Company successfully brought its latest three horizontal wells at the Beaverdam asset on production in mid to late December 2025. Current combined production from [Read more]
Obsidian Energy Announces 2026 Guidance and Provides an Operational Update
Capital expenditures guidance of $210 million (midpoint) resulting in 38 net operated wells drilled at both Peace River and Willesden Green including $22 million in waterflood spending Production guidance of 28,900 boe/d (midpoint) for 2026, approximately 55% weighted to our light oil assets and 45% weighted to our heavy oil assets Funds flow from operations of $225 million ($3.35 per basic share) based on WTI of US$58.00/bbl in H1 2026 and US$62.00/bbl in H2 2026 Calgary, [Read more]
US energy secretary calls for doubling global oil output in Davos
The world needs to more than double oil production, U.S. Energy Secretary Chris Wright said on Thursday, while criticising the European Union and the U.S. state of California for wasting money on what he described as inefficient green energy. In recent years, the World Economic Forum's discussions on energy have centred on ways to boost lower-carbon policies. But during Wright's discussion with energy company Occidental's CEO Vicki Hollub in Davos, they emphasised that the world will depend [Read more]
Trump in control of Venezuela oil funds, Semafor reports
U.S. President Donald Trump is controlling the release of oil funds garnered from Venezuela himself, online news outlet Semafor reported on Thursday, citing an administration official. The administration official told Semafor that all proceeds from the first oil sale would be transferred to Venezuela because its current government had “fully cooperated” with the United States. Reuters could not immediately verify the report. (Reporting by Rajveer Singh Pardesi in Bengaluru; Editing by [Read more]
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