News

Canada’s energy minister will announce a measure related to international energy exports on Wednesday in Vancouver, the federal government said on Tuesday, without providing further details. Natural Resources Minister Tim Hodgson is scheduled to make the announcement at 8:30 a.m. PT, according to a press release from Natural Resources Canada. The press release did not specify the nature of the announcement. The announcement comes as Canada seeks to expand its role in global energy [Read more]

Deal Summary Resonance Energy Ltd. is evaluating strategic alternatives, which may include the sale of the company and/or certain operated oil and gas assets located in North Dakota and Alberta. The assets, as defined below, may be sold together or separated into North Dakota and Alberta packages, giving buyers flexibility to evaluate the full opportunity or select regional assets. The North Dakota position includes 12,913 net acres in Bottineau County, with 10 operated wells producing [Read more]

HIGHLIGHTS NOG makes strategic entry into Canada with inventory-rich light oil acquisition in the Duvernay Shale for a CA$350 million (~US$259 million) initial unadjusted purchase price Operated ‘buy-down’ acquisition of a 25% non-operated stake in light oil producing properties with significant undeveloped inventory in Alberta, Canada in the Duvernay East Shale Basin operated by Parallax Energy Operating Inc. (the “Assets”), a portfolio company of investment funds managed by Carnelian [Read more]

Northern Oil and Gas said on Tuesday it would buy a 25% stake in Parallax Energy Operating’s light-oil assets in Canada's Duvernay shale for an initial purchase price of about C$350 million ($253.60 million). The non-operated stake will mark NOG’s entry into Canada and expand its inventory of low-cost drilling locations. Duvernay shale remains less developed than major U.S. oil basins such as the Permian and contains large undeveloped drilling inventory. * Northern Oil and Gas said it will [Read more]

Across Canada, oil and gas operators are putting AI to work in real field and asset environments. The question is no longer whether AI shows promise, but whether it can perform consistently under operational conditions. Companies are applying AI to strengthen maintenance planning, improve asset performance, and support production reliability where decisions are made every day. Learn how this shift is playing out in practice at an IFS-hosted lunch discussion with Canada’s top energy [Read more]

Production teams are being asked to do more with less - managing larger well portfolios, responding to more alarms, and making faster decisions with the same headcount. The data is already flowing in from SCADA, but turning it into timely action is where traditional workflows fall short. Traditional production optimization workflows often rely on manual surveillance, reactive troubleshooting, and static setpoints that struggle to keep pace with changing field conditions. With increasing [Read more]

Iran's foreign ministry said in a statement on Tuesday that the United States has violated the ceasefire with strikes in Iran's southern Hormozgan province. The U.S. military carried out strikes on Monday in southern Iran against targets including boats attempting to lay mines and missile launch sites, in what it described as defensive actions. Iranian media reported early on Tuesday that sounds of explosions were heard in Bandar Abbas in the province. "The United States committed a [Read more]

Brent crude futures rose nearly 2% in early Asian trade on Tuesday after the U.S. military carried ​out strikes in southern Iran in what it ​described as defensive actions, keeping markets on edge as a deal to end the war eludes both sides. Brent futures climbed $1.40, or 1.5%, to $97.56 a barrel as of 0006 GMT, after settling 7% lower in the previous session. U.S. West Texas Intermediate crude fetched $91.25, up slightly from Monday's last traded price but down $5.30, or 5.5% from [Read more]

The U.S. military carried out strikes on Monday in southern Iran against targets including boats attempting to lay mines and missile launch sites, in what it described as defensive actions. U.S. Central Command said in a statement the strikes were designed "to protect our troops from threats posed by Iranian forces." "U.S. Central Command continues to defend our forces while using restraint during the ongoing ceasefire," said Navy Captain Tim Hawkins, a Central Command [Read more]