Nearly 8% of Norwegian offshore oil and gas workers plan to strike from June 5 if state-brokered wage mediation fails this week, labour unions said on Monday. It was too early to determine how a potential strike could impact production from oil and gas fields, a spokesperson for Offshore Norway, which represents the oil industry in the talks, said. The three unions have around 8,100 members involved in oil production. Of those, 617 would take part in an initial wave of strikes if talks break [Read more]
News
Iran is stopping message exchanges with U.S., may block Hormuz, Tasnim news agency says
Iran's Tasnim news agency said on Monday that Tehran's negotiating team is stopping exchanges of messages with the United States through mediators due to attacks on Lebanon, as diplomatic efforts to end the three-month-old Iran war continue. The agency said Iran and the Resistance Front, which includes its Shiite allies in Yemen, Lebanon and Iraq, have set an agenda to completely block the Strait of Hormuz and activate other fronts, including the Bab El Mandeb Strait, in order to "punish" Israel [Read more]
Weatherford to acquire oilfield tech firm NCS Multistage
Oilfield services provider Weatherford International said on Monday it has agreed to acquire energy technology firm NCS Multistage Holdings in a cash-and-stock deal. On a blended basis, Weatherford will pay the equivalent of 0.463 of its shares for each NCS share, with roughly 20% of the consideration in cash. Based on Reuters calculations, the deal values NCS at about $126 million, or $48 per share, representing a premium of about 13% to its last close. * Amid increasingly demanding [Read more]
Parex Resources Completes Acquisition of Frontera E&P, Becoming Colombia’s Largest Independent Oil & Gas Producer
CALGARY, Alberta, June 01, 2026 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce the successful closing of its previously announced acquisition of all the Colombian exploration and production assets of Frontera Energy Corporation. Pursuant to the transaction, Parex acquired 100% of Frontera Petroleum International Holdings B.V. (“Frontera E&P”) for cash consideration of US$500 million, funded with the proceeds from Parex’s recent issuance [Read more]
Athabasca Oil Corporation Announces New $500 Million Four-Year Credit Facility and Expanded Duvernay Energy Credit Facility
CALGARY, Alberta, June 01, 2026 (GLOBE NEWSWIRE) -- Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) has closed a new $500 million covenant-based credit facility with the Canadian bank market. The facility has a four-year term to May 2030 and includes annual extension rights. Duvernay Energy has also closed an upsized $75 million reserve-based credit facility. Pro forma for the new facilities, consolidated liquidity is approximately $870 million. The new credit facilities [Read more]
Source Rock Royalties announces first quarter 2026 results and provides corporate update
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./ CALGARY, AB, June 1, 2026 /CNW/ - Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR), a pure-play oil and gas royalty company with an established portfolio of oil royalties and Crown mineral leases, announces results for the three-month period ended March 31, 2026 ("Q1 2026"). President's Message - Corporate Update During Q1 2026, we experienced two very different market environments. [Read more]
InPlay Oil Corp. Confirms Monthly Dividend for June 2026
CALGARY AB, June 1, 2026 /CNW/ - InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) ("InPlay" or the "Company") is pleased to confirm that its Board of Directors has declared a monthly cash dividend of $0.09 per common share payable on June 30, 2026, to shareholders of record at the close of business on June 15, 2026. The monthly cash dividend is expected to be designated as an "eligible dividend" for Canadian federal and provincial income tax purposes. About InPlay Oil Corp. [Read more]
Weatherford Announces Definitive Agreement to Acquire NCS Multistage, Expanding Completions Portfolio and Unconventional Resource Exposure
HOUSTON, June 01, 2026 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) and NCS Multistage Holdings, Inc. (NASDAQ: NCSM) (“NCS Multistage”) today announced that Weatherford has entered into a definitive agreement to acquire NCS Multistage. Under the terms of the agreement, NCS Multistage stockholders have an election to receive either Weatherford common stock or a combination of Weatherford common stock and cash. On a blended basis, this is [Read more]
Paramount Resources Ltd. Announces June Dividend
CALGARY, AB, June 1, 2026 /CNW/ - Paramount Resources Ltd. ("Paramount" or the "Company") (TSX: POU) is pleased to announce that its Board of Directors has declared a cash dividend of $0.05 per common share that will be payable on June 30, 2026 to shareholders of record on June 15, 2026. The dividend will be designated as an "eligible dividend" for Canadian income tax purposes. ABOUT PARAMOUNT Paramount is an independent, publicly traded Canadian energy company that explores [Read more]
US says it struck Iranian military sites, Tehran responds with air base attack
The U.S. said it struck Iranian military sites at the weekend and Iran's Revolutionary Guards said on Monday it had targeted a U.S. base in response, the latest exchange of attacks amid negotiations to end the three-month-old war. The U.S. and Iran have sporadically exchanged strikes since their ceasefire took effect in early April as diplomacy aimed at a more durable agreement drags on. A similar exchange occurred last Thursday and was described in near-identical terms by both sides. The [Read more]
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