U.S. Energy Secretary Chris Wright on Tuesday urged supporters of data centers at an Amazon Web Services conference to push back against critics, saying concerns about the facilities are "overblown." Wright listed concerns that opponents have raised about the boom in the facilities including water and power use and that the artificial intelligence they support will take away jobs and harm communities. "These are the things that everyone is saying and right now in the polls, they are [Read more]
News
Highwood Asset Management Ltd. announces sale of Wilson Creek assets
/NOT FOR DISSEMINATION IN THE U.S. OR THROUGH U.S. NEWSWIRES/ CALGARY, AB, June 30, 2026 /CNW/ - Highwood Asset Management Ltd. ("Highwood" or the "Company") (TSXV: HAM) is pleased to announce that we have closed our previously announced arm's length divestiture of our Wilson Creek assets (the "Assets") to Obsidian Energy Ltd. ("Obsidian Energy") (TSX: OBE) (the "Transaction"). Total consideration received from Obsidian Energy was up to $112 million: $105 million in cash, [Read more]
US oil production rises to record high in April, EIA says
U.S. crude oil production rose to 13.93 million barrels per day in April, the highest on record, monthly data from the Energy Information Administration showed on Tuesday, as producers ramped up output in response to higher oil prices owing to the Iran war. Production rose by 216,000 bpd in April, EIA data showed, with production in New Mexico touching a record high of 2.37 million bpd. Crude production in Texas edged 36,000 bpd higher to 5.83 million bpd, the highest since November. Texas [Read more]
Alberta poised to make West Coast pipeline announcement later this week
CALGARY - The Alberta government is poised to make an announcement about its plans for a new West Coast oil pipeline later this week. Sam Blackett, press secretary to Premier Danielle Smith, says there will be a "major announcement" on Thursday to share new details about the province's submission to the federal major projects office. The major projects office was established a year ago to speed along infrastructure deemed in Canada's national interest. Alberta is acting as a proponent [Read more]
Oil set for steepest quarterly loss since 2020 as traders focus on US-Iran talks
Oil prices were heading on Tuesday for their biggest quarterly loss since the COVID-19 pandemic in early 2020, with investors eyeing potential U.S.-Iran talks in Doha amid a strained interim ceasefire in the four-month-old war. Brent August crude futures, which expire on Tuesday, were up 0.21%, or 15 cents, at $73.30 a barrel at 1302 GMT. However, the contract was on track for a third straight monthly decline, down about 20% so far in June. The more actively traded September contract [Read more]
US natgas advances 3% on rising LNG flows, record heat
U.S. natural gas futures climbed about 3% on Tuesday on rising flows to liquefied natural gas (LNG) export plants and forecasts for record power demand in some parts of the country as homes and businesses crank up air conditioners to escape a brutal heat wave. Front-month gas futures for August delivery on the New York Mercantile Exchange rose 10.2 cents, or 3.2%, to $3.283 per million British thermal units. For the month, the front-month was down less than 1% in June after soaring about [Read more]
Iran war and AI boom drive wild ride on global markets
Investors have had to gulp down the motion-sickness tablets this year as the turmoil from the Iran war has clashed with a seemingly unstoppable boom in all things AI and otherworldly. Global stocks are now $7 trillion higher than at the end of 2025, even though the war caused a $9 trillion drop in March, when oil shot to $120 a barrel and hopes of lower interest rates were dashed. South Korea's stock market has surged by 100% and Elon Musk's $2 trillion SpaceX has blasted off, but the [Read more]
Canada/US birthday week – are we getting wiser or just older?
Some birthday season it’s shaping up to be. Canada now has two provinces considering separation, while the US’ coastal regions are now voting in communists and refusing to celebrate 250 because of Trump Derangement Syndrome. Kind of puts a damper on the birthday celebrations. It’s worse than getting a pair of socks. Is it the end of good days, or the beginning of something better? It is easy to see the negative, because holy moly there’s a lot of it, and also because it is thrust into our [Read more]
Paramount Resources Announces Closing of Fox Drilling Sale, Distribution of AKITA Drilling Shares and Successful Startup of Alhambra Expansion
CALGARY, AB, June 30, 2026 /CNW/ - Paramount Resources Ltd. ("Paramount" or the "Company") (TSX: POU) is pleased to announce that it has closed the sale of its Fox Drilling subsidiary to AKITA Drilling Ltd. ("AKITA"). The Company is also pleased to announce that it has successfully started up the second phase expansion of its Alhambra Plant in Willesden Green. FOX DRILLING SALE AND AKITA SHARE DISTRIBUTION Paramount received 19,264,270 voting common shares of AKITA ("AKITA Shares") as [Read more]
Stampede Drilling Inc. announces upfront capital funding and rig mobilization for Greenland operations
CALGARY, AB, June 30, 2026 /CNW/ - Stampede Drilling Inc. ("Stampede" or the "Corporation") (TSXV: SDI) is pleased to announce that it has received upfront capital from its customer, Greenland Energy Company (NASDAQ: GLND) ("Greenland Energy"), in support of its drilling program in East Greenland's Jameson Land Basin. The funding will be applied to capital upgrades to Stampede's rig in preparation for Arctic operations under the Corporation's 5-year term contract. The upfront [Read more]
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