The United States issued a 30-day license for countries to buy Russian oil and petroleum products currently stranded at sea in what Treasury Secretary Scott Bessent said was a step to stabilize global energy markets roiled by the Iran war. The announcement comes a day after the U.S. Energy Department said that the U.S. would be releasing 172 million barrels of oil from the strategic petroleum reserve in an effort to curb sky-rocketing oil prices in the wake of the war in Iran. That release was [Read more]
News
Cardinal Energy Ltd. Announces Fourth Quarter 2025 and Year-End Financial Results
Calgary, Alberta--(Newsfile Corp. - March 12, 2026) - Cardinal Energy Ltd. (TSX: CJ) ("Cardinal" or the "Company") is pleased to announce its operating and financial results for the fourth quarter and year ended December 31, 2025. HIGHLIGHTS FROM THE FOURTH QUARTER AND FULL YEAR OF 2025 Cardinal achieved record production of 23,514 boe/d in the fourth quarter due to the Reford steam-assisted gravity drainage ("SAGD") project moving into the production phase during the quarter and our [Read more]
Discount on Western Canada Select unchanged
The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures was unchanged on Thursday, as global oil prices surged to their highest point since 2022. WCS for April delivery in Hardisty, Alberta, settled at $13.15 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, steady on Wednesday's close. * The war in Iran has disrupted global supply of medium and heavy sour barrels, contributing to tighter spreads for heavy crude this [Read more]
Cavvy Announces Warrant Exercise
Not For Distribution to United States News Wire Services or Dissemination in United States CALGARY, Alberta, March 12, 2026 (GLOBE NEWSWIRE) -- Cavvy Energy Ltd. (“Cavvy” or the “Company”) (TSX:CVVY) announces the exercise of common share purchase warrants (the “Warrants”) by 2652862 Alberta Ltd., an affiliate of Erikson National Energy Inc. (“Erikson”). Proceeds will be used to repay debt. The Warrants were issued to Erikson in 2019 in connection with a debt financing to Cavvy, then [Read more]
Tourmaline Announces Issuance of Senior Unsecured Notes
CALGARY, AB, March 12, 2026 /CNW/ - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") is pleased to announce that it has agreed to issue $250 million aggregate principal amount of senior unsecured notes due March 16, 2031 (the "Notes"). The Notes will be issued at par for aggregate gross proceeds of $250 million and will bear interest at a fixed rate of 3.934% per annum, payable semi-annually on the 16th day of March and September of each year, commencing on September [Read more]
Strathcona Resources Ltd. Receives TSX Approval for Normal Course Issuer Bid
CALGARY, AB, March 12, 2026 /CNW/ - Strathcona Resources Ltd. ("Strathcona" or the "Company") (TSX: SCR) today announced that the Toronto Stock Exchange ("TSX") has accepted Strathcona's notice to commence a normal course issuer bid ("NCIB") to purchase outstanding common shares representing up to five percent of its issued and outstanding common shares. Under the NCIB, purchases of common shares may be made through the facilities of the TSX, other designated exchanges [Read more]
Shell-led LNG Canada says unplanned flaring event could continue for a week
Shell-led LNG Canada reported on Thursday that an unplanned flaring event occurred a day earlier and is likely to continue for one week. The LNG project in Kitimat, British Columbia - which began operations in June 2025 - exported six cargoes in the first 12 days of March. The venture can export just under 1.2 million metric tons per month. * Flaring started late Wednesday; increased noise and visible emissions are expected, the company said in a statement. * LNG Canada did not [Read more]
US Navy could escort vessels in Strait of Hormuz with international coalition, Bessent says
The U.S. Navy, perhaps with an international coalition, will escort vessels through the Strait of Hormuz when it is militarily possible, U.S. Treasury Secretary Scott Bessent told Sky News in an interview on Thursday. "My belief, that as soon as it is militarily possible, the US Navy, perhaps with an international coalition, will be escorting vessels through," Bessent said. The plan to escort ships would go ahead as soon as the U.S. has "complete control of the skies and... (Iran's) [Read more]
US natgas prices at Waha Hub in Texas remain negative for record 25th day
U.S. spot natural gas prices for Thursday at the Waha Hub in the Permian Shale in West Texas closed in negative territory for a record 25th straight day as pipeline constraints trap gas in the nation's biggest oil-producing basin, prompting some analysts to project that gas production could be reduced in the short term. Longer-term, energy firms will likely boost Permian output when more gas pipes enter service as soaring oil prices from the Iran war encourage oil and associated gas production, [Read more]
Oil unlikely to hit $200 a barrel, US energy chief says
U.S. Energy Secretary Chris Wright said on Thursday global oil prices are unlikely to hit $200 a barrel even as crude tankers remained stalled in the Strait of Hormuz and the U.S. and Israeli war with Iran widened. "I would say unlikely, but we are focused on the military operation and solving a problem," Wright told CNN when asked if prices would reach $200 a barrel - a level prices could hit if the war continues to escalate, an Iranian official said on Wednesday. "Get ready for the oil [Read more]
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