News

HIGHLIGHTS NOG makes strategic entry into Canada with inventory-rich light oil acquisition in the Duvernay Shale for a CA$350 million (~US$259 million) initial unadjusted purchase price Operated ‘buy-down’ acquisition of a 25% non-operated stake in light oil producing properties with significant undeveloped inventory in Alberta, Canada in the Duvernay East Shale Basin operated by Parallax Energy Operating Inc. (the “Assets”), a portfolio company of investment funds managed by Carnelian [Read more]

Northern Oil and Gas said on Tuesday it would buy a 25% stake in Parallax Energy Operating’s light-oil assets in Canada's Duvernay shale for an initial purchase price of about C$350 million ($253.60 million). The non-operated stake will mark NOG’s entry into Canada and expand its inventory of low-cost drilling locations. Duvernay shale remains less developed than major U.S. oil basins such as the Permian and contains large undeveloped drilling inventory. * Northern Oil and Gas said it will [Read more]

Across Canada, oil and gas operators are putting AI to work in real field and asset environments. The question is no longer whether AI shows promise, but whether it can perform consistently under operational conditions. Companies are applying AI to strengthen maintenance planning, improve asset performance, and support production reliability where decisions are made every day. Learn how this shift is playing out in practice at an IFS-hosted lunch discussion with Canada’s top energy [Read more]

Production teams are being asked to do more with less - managing larger well portfolios, responding to more alarms, and making faster decisions with the same headcount. The data is already flowing in from SCADA, but turning it into timely action is where traditional workflows fall short. Traditional production optimization workflows often rely on manual surveillance, reactive troubleshooting, and static setpoints that struggle to keep pace with changing field conditions. With increasing [Read more]

Iran's foreign ministry said in a statement on Tuesday that the United States has violated the ceasefire with strikes in Iran's southern Hormozgan province. The U.S. military carried out strikes on Monday in southern Iran against targets including boats attempting to lay mines and missile launch sites, in what it described as defensive actions. Iranian media reported early on Tuesday that sounds of explosions were heard in Bandar Abbas in the province. "The United States committed a [Read more]

Brent crude futures rose nearly 2% in early Asian trade on Tuesday after the U.S. military carried ​out strikes in southern Iran in what it ​described as defensive actions, keeping markets on edge as a deal to end the war eludes both sides. Brent futures climbed $1.40, or 1.5%, to $97.56 a barrel as of 0006 GMT, after settling 7% lower in the previous session. U.S. West Texas Intermediate crude fetched $91.25, up slightly from Monday's last traded price but down $5.30, or 5.5% from [Read more]

The U.S. military carried out strikes on Monday in southern Iran against targets including boats attempting to lay mines and missile launch sites, in what it described as defensive actions. U.S. Central Command said in a statement the strikes were designed "to protect our troops from threats posed by Iranian forces." "U.S. Central Command continues to defend our forces while using restraint during the ongoing ceasefire," said Navy Captain Tim Hawkins, a Central Command [Read more]

HALIFAX - Nova Scotia’s premier says his government is about to start negotiations with a company that could frack for natural gas in the province. Tim Houston told reporters Monday that seven companies responded to a call for firms interested in natural gas exploration. He says his government is about to start talks with one of the companies before deciding on regulatory approvals and financial incentives. Houston, who is also Nova Scotia's energy minister, said he expects the other [Read more]

U.S. President Donald Trump said on Monday that he asked Saudi Arabia, Qatar, Pakistan, Turkey, Egypt and Jordan to join the Abraham Accords en masse to normalize relations with Israel as he tries to negotiate an agreement to end the war with Iran. Pakistan rejected the proposal. None of the other countries has so far publicly reacted to Trump's demand and a positive response was unlikely when the public mistrust of Israel in these Muslim nations remains high over the scale of its military [Read more]