CALGARY, AB, Nov. 18, 2025 /CNW/ - Westgate Energy Inc. ("Westgate" or the "Company") (TSXV: WGT), is pleased to provide an operational update following the completion of its latest drilling program in the Beaverdam area of Alberta. Drilling Results The Company has successfully completed its previously announced fall drilling program at its Beaverdam asset. The program included two vertical stratigraphic test wells and three horizontal wells targeting two Mannville Stack [Read more]
News
‘Gas-for-wine’: South Africa seeks deal to boost trade, investment with Canada
OTTAWA - As Prime Minister Mark Carney heads to Johannesburg for the G20 summit, Canada and South Africa are talking about a deal to boost bilateral trade and investment that could see more South African wine on Canadian shelves in exchange for gas exports. "We are pursuing a strategic partnership with Canada," South African High Commissioner Rieaz Shaik told The Canadian Press. "I'm calling it a gas-for-wine deal." Shaik said the talks are focused on five sectors — agribusiness, [Read more]
Venture Global wants to double planned capacity of Plaquemines LNG facility
Venture Global said on Monday it had asked the U.S. Federal Energy Regulatory Commission for permission to more than double the capacity of its Plaquemines liquefied natural gas export facility under development in Louisiana. The company wants to add 30 million metric tons per annum (mtpa) of additional LNG capacity to the previously approved 28 mtpa. Plaquemines is already the second-largest LNG facility in the U.S. and last month was responsible for 22% of total exports from the country, [Read more]
Trump would back Russia sanctions bill if he retains final authority, White House official says
President Donald Trump is willing to sign legislation to impose sanctions on Russia as long as he retains ultimate decision-making authority over any such measures, a senior White House official said on Monday. Trump told reporters late on Sunday that it was "OK with me" that Republicans were working on legislation to impose sanctions on countries doing business with Russia over Moscow's failure to negotiate a peace deal with Ukraine. Trump said lawmakers may take his suggestion to add Iran [Read more]
CRR and Islander get creative on Roadway Transaction within Alberta’s Heavy Oil Fairway
FOR IMMEDIATE RELEASE CALGARY, AB, November 17, 2025 / CNW / — Canadian Resource Roadways (CRR), a leader in resource infrastructure ownership and operations, is pleased to announce it has entered into a definitive agreement with Islander Oil & Gas Inc. (“Islander”) to acquire 53 kilometres of critical roadway infrastructure, including the Seal Lake Road and East Chip Road. The road network, located east of Peace River and north of Slave Lake, Alberta, primarily services Islander’s [Read more]
Goldman Sachs sees oil prices falling through 2026 on supply surge
Oil prices are expected to decline through 2026, Goldman Sachs said on Monday, citing a production surge that will keep the market in a large surplus of around 2 million barrels per day. The bank forecast Brent crude will average $56 a barrel and WTI $52 in 2026, below current forward curves of $63 and $60. "The 2025-2026 supply wave mostly results from long-cycle projects that saw Final Investment Decisions (FIDs) just before the pandemic, got delayed during Covid, and are now all coming [Read more]
TransAlta buying four Ontario natural gas-fired power plants for $95 million
CALGARY - TransAlta Corp. has signed a deal to buy Far North Power Corp. and its four natural gas-fired power plants in Ontario for $95 million. The power utility is buying the assets from an affiliate of Hut 8 Corp. and Macquarie Equipment Finance Ltd. The plants are located in Iroquois Falls, Kingston, North Bay, and Kapuskasing. They will add 310 megawatts capacity to TransAlta's portfolio to bring its total to 1,300 MW. TransAlta says it will finance the transaction using cash on [Read more]
Chevron joins race to explore potential purchase of Lukoil assets, sources say
U.S. oil major Chevron is studying options to buy global assets of sanctioned Russian oil firm Lukoil, five sources familiar with the process told Reuters on Monday. The U.S. Treasury gave clearance last week to potential buyers to talk to Lukoil about foreign assets. Chevron would join Carlyle and other firms in the race for the Lukoil portfolio worth at least $20 billion. The United States last month imposed sanctions on Russia's two biggest oil companies, Lukoil and Rosneft, as part of [Read more]
US oil, gas rig count slows despite record output, EIA says
U.S. oil and natural gas drilling activity has continued to decline even as production reaches record highs, the U.S. Energy Information Administration (EIA) said on Monday. The EIA said the average number of active rigs in the Lower 48 has fallen from 750 in December 2022 to 517 in October 2025, reflecting operators' responses to lower oil and natural gas prices and improvements in drilling efficiencies. The report said that since December 2022, oil-directed rigs have dropped 33% to 397, [Read more]
Forden Energy Inc. and 2150865 Alberta Ltd. – Insolvency Sale
Forden Energy Inc. and 2150865 Alberta Ltd. (collectively the “Companies”) have engaged Sayer Energy Advisors to assist the Companies with a sale and investment solicitation process (the “SISP”) in order to solicit interest in the purchase of or investment in all or part of the business or operations of the Companies or its undertaking, property and assets. The Companies have each filed a Notice of Intention to Make a Proposal (the “NOI”) pursuant to section 50.4 (9) of the Bankruptcy and [Read more]
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