CALGARY, AB, May 6, 2026 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) is pleased to announce financial and operating results for the quarter ended March 31, 2026, as well as an update on Surge's latest operational achievements. Select financial and operating information is outlined below and should be read in conjunction with the Company's unaudited condensed interim financial statements and management's discussion and analysis for the three months ended [Read more]
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Strathcona Resources Ltd. Reports First Quarter 2026 Financial and Operating Results and Announces Quarterly Dividend
CALGARY, AB, May 6, 2026 /CNW/ - Strathcona Resources Ltd. ("Strathcona" or the "Company") (TSX: SCR) today reported its first quarter 2026 financial and operating results. The Board of Directors also declared a quarterly dividend of $0.30 per common share. Q1 2026 Highlights Production of 116,542 boe/d (99.7% liquids) Operating Earnings of $194 million ($0.91 / share)(1) Free Cash Flow of $47 million ($0.22 / share)(1) Three Months [Read more]
Tourmaline achieves record production in the first quarter and forecasts higher free cash flow for 2026 and 2027
CALGARY, AB, May 6, 2026 /CNW/ - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") is pleased to release financial and operating results for the first quarter of 2026. HIGHLIGHTS Continued new well outperformance in both gas complexes, the Alberta Deep Basin and the NEBC Montney gas condensate complex, leading to production at the mid-point of guidance despite Q1 capital deferrals. The first two major facility projects in the NEBC infrastructure [Read more]
Saturn Oil & Gas Inc. Announces First Quarter 2026 Results Highlighted by Production, Adjusted Funds Flow and Free Funds Flow Ahead of Expectations
Production of 43,116 boe/d was 3% above the high end of guidance and again exceeded consensus estimates Adjusted funds flow(1) over $107 million ($0.59/share) with free funds flow(1) over $62 million ($0.34/share) Net debt(1) down 5% from year end 2025 to $725 million, reflecting Saturn's continued commitment to debt repayment Accelerating capital from H2/26 into Q2 supports volumes coming on sooner into a strong oil price environment Calgary, Alberta--(Newsfile Corp. - May 6, 2026) [Read more]
Occidental scraps new oil hedges as Iran war fuels price volatility
U.S. shale producer Occidental Petroleum will not add more oil hedges this year after volatility in crude prices following the Iran war led to lower realized prices. Speaking on a post-earnings conference call on Wednesday, Chief Financial Officer Sunil Mathew said derivative-related losses had a partial impact on Occidental's first-quarter profit, which still managed to beat Wall Street expectations. In February, prior to the escalation in the Middle East, Occidental had placed "a modest [Read more]
Oil supply shock to worsen as inventories fall further even if conflict ends
Oil supplies are set to tighten further in coming weeks even if the U.S. and Iran agree on a peace deal to end their war because it will take weeks for oil shipments to resume from the Middle East Gulf and reach refiners worldwide - so oil companies will continue to deplete storage tanks to meet peak summer demand. The world has used temporary buffers - commercial stockpiles, oil in transit or held in storage at sea and emergency reserves - to offset the shock from the war in the Middle East. [Read more]
European Commission weighs suspending methane fines during energy emergencies, FT reports
The European Commission is considering suspending methane emissions penalties during energy supply crises after pressure from the United states and the fossil fuel industry to dilute rules on leaks of the greenhouse gas, the Financial Times reported on Wednesday. The Commission plans to roll out new rules on monitoring, reporting and verification for methane leaks and flaring tied to fossil fuel imports next year, the newspaper said, adding that the Middle East crisis has prompted calls to [Read more]
Suncor ratcheting up output of diesel, jet fuel to meet surging global demand
CALGARY - Suncor Energy Inc. is sending high-demand products like jet fuel and diesel from its Canadian refineries to a variety of far-flung global destinations as strife in the Middle East continues to squeeze supplies. In March, the Calgary-based oilsands producer, oil refiner and fuel retailer made sales in the Philippines and Puerto Rico, "both at significant premiums to market pricing," chief financial officer Troy Little told analysts on a conference call Wednesday. "We have spent [Read more]
NextDecade sees Middle East conflict boosting long-term LNG ship charters
Ongoing conflict in the Middle East and other disruptions will lead to more companies hiring LNG ships under long-term contracts rather than on the spot market, NextDecade shipping vice president Peter Fitzpatrick said on Wednesday at an event in Houston. The LNG industry became comfortable with hiring ships on the spot market when there was an oversupply of the fuel, with very few long-term deals done in 2024 and 2025, Fitzpatrick said. The market, however, is beginning to realize there will [Read more]
US says airline jet fuel costs jumped $1.8 billion or 56% in March
Major U.S. passenger airlines spent just over $5 billion on jet fuel in March, up $1.8 billion or 56% from what they spent in February, the U.S. Transportation Department said on Wednesday. The cost per gallon of fuel in March was $3.13, up 74 cents, and 31% over February. Fuel use rose 20% in March, USDOT added. Since the U.S.-Israeli war with Iran began, disruptions to shipping through the Strait of Hormuz have roiled global oil markets. Surging jet fuel prices have created the air [Read more]
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