Presidio Investment Holdings is working with Goldman Sachs on a first-of-its-kind debt facility worth up to $1 billion to give the U.S. oil and gas producer a war chest to pursue acquisitions as it becomes a publicly listed company, Presidio's executives told Reuters. The energy producer is set to list in the coming weeks via a combination with blank-check firm EQV Ventures Acquisition Corp. Presidio's business model involves improving production from existing oil and gas wells through more [Read more]
News
Shell CEO says oil major does not have to buy assets anytime soon
Shell CEO Wael Sawan said on Tuesday the oil major does not have to buy additional assets anytime soon to deliver on its 2030 targets. In March, Sawan projected a 100,000 to 200,000 barrels-of-oil-equivalent-per-day gap for the company by 2030, but said last week the company has largely covered that near-term shortfall. Shell needs an acquisition or exploration breakthrough to make up for an expected production shortage of 350,000 to 800,000 boed by 2035, the company and analysts have [Read more]
Canadians awaiting flights home as U.S. oil blockade causes energy shortage in Cuba
Canadians in Cuba are waiting for flights home as an energy crisis worsens in the nation amid a U.S. oil blockade. Major Canadian airlines have already suspended service to Cuba, including Air Canada and WestJet. All three airlines have confirmed they plan to bring travellers back home to Canada. Calgary-based WestJet says its decision to wind down winter operations will affect WestJet, Sunwing Vacations, WestJet Vacations, and Vacances WestJet Quebec. Air Canada has said its [Read more]
BP profit up 32% in line with expectations, suspends buybacks
BP posted a fourth-quarter underlying replacement cost profit, or adjusted net income, of $1.54 billion on Tuesday, up around 32% on last year and in line with expectations. BP, whose new CEO Meg O'Neill will start in April, said it would suspend its share buyback programme so it can allocate excess cash to invest in oil and gas opportunities. It repurchased shares worth $750 million over the last three months. BP booked diverse impairments of $4.2 billion in the fourth quarter, according [Read more]
Trump set to repeal landmark climate finding in huge regulatory rollback this week
The Trump administration is set this week to overturn an Obama-era scientific finding that serves as the legal basis for federal greenhouse-gas regulation, the Environmental Protection Agency said on Monday. Repealing the so-called endangerment finding, a scientific determination that greenhouse gas emissions endanger human health, would remove the legal foundation for broader greenhouse gas regulation and would mark the Trump administration's most wide-reaching climate policy [Read more]
Spartan Delta Corp. Announces 2025 Reserves
CALGARY, AB, Feb. 9, 2026 /CNW/ - Spartan Delta Corp. ("Spartan" or the "Company") (TSX: SDE) is pleased to announce the highlights of its year-end independent oil and gas reserves evaluation as of December 31, 2025. 2025 INDEPENDENT RESERVE REPORTS HIGHLIGHTS Spartan's proved developed producing ("PDP") reserves increased by 9%, while total proved ("TP") reserves increased by 19%, and total proved plus probable ("TPP") reserves increased by 18% in 2025. [Read more]
Discount on Western Canada Select continues to widen
The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures widened to its steepest point since July 2024 on Monday. WCS for March delivery in Hardisty, Alberta, settled at $15.45 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared to $15.25 on Friday. * The discount on Canadian heavy crude has widened by more than $2 since the start of January, largely due to U.S. President Donald Trump's stated goal to increase [Read more]
Cardinal Energy Ltd. Announces Monthly Dividend for February
Calgary, Alberta--(Newsfile Corp. - February 9, 2026) - Cardinal Energy Ltd. (TSX: CJ) ("Cardinal" or the "Company") confirms that our February dividend of $0.06 per common share will be paid on March 16, 2026 to shareholders of record on February 27, 2026. The Board of Directors of Cardinal has declared the dividend payable in cash. This dividend has been designated as an "eligible dividend" for Canadian income tax purposes. About Cardinal Energy Ltd. Cardinal is a Canadian oil and [Read more]
PrairieSky Announces Dividend Increase and 2025 Annual and Fourth Quarter Results
CALGARY, Alberta, Feb. 09, 2026 (GLOBE NEWSWIRE) -- PrairieSky Royalty Ltd. ("PrairieSky" or the "Company") (TSX: PSK) is pleased to announce an increase to its annual dividend policy and its annual and fourth quarter operating and financial results for the period ended December 31, 2025. Annual Highlights Record annual oil royalty production volumes averaged 13,940 barrels per day, a 6% increase over YE 2024(1). Total royalty production averaged 25,855 BOE per day, a 3% increase [Read more]
Air Canada suspends Cuba flights as island set to run out of jet fuel
Air Canada said on Monday it is suspending flights to Cuba, which warned it was running out of jet fuel, as the U.S. tightens its grip on the communist-run nation's oil supply. Canada's largest carrier said in a statement that aviation fuel is not projected to be commercially available at airports as of Tuesday, as governments issue notices warning that the supply is likely to be unreliable. The shortfall is set to last from February 10 through March 11, according to a Notice to Air [Read more]
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