CALGARY - Whitecap Resources Inc. says it's made good progress toward integrating the people and assets it acquired through its combination with Veren Inc. this spring. The deal closed in mid-May and chief executive Grant Fagerheim says there have been "plenty of early wins" on cutting corporate costs and improving Whitecap's credit profile. Whitecap says it expects production this year to come in at the high end of its forecast range of between 295,000 and 300,000 barrels of oil [Read more]
News
US mulls limited authorizations for oil firms in Venezuela, sources say
U.S. President Donald Trump's administration is preparing to grant new authorizations to key partners of Venezuela's state-run oil company PDVSA, starting with Chevron, which would allow them to operate with limitations in the sanctioned OPEC nation, four sources close to the matter said on Thursday. If granted, the authorizations to the U.S. oil major, and possibly also to PDVSA's European partners, would mark a policy shift from a pressure strategy Washington adopted earlier this year on [Read more]
US gas producer CNX Resources boosts 2025 output estimate without extra spending
U.S. energy firm CNX Resources said in its second quarter earnings that it plans to produce more natural gas this year than previously expected to meet growing demand while spending the same amount of money. Earlier this week, two other big U.S. gas producers, EQT and Range Resources, both said in their second quarter earnings that they too would produce more energy in 2025 than previously expected to meet rising demand. Demand for gas to produce power for data centers in the U.S. and for [Read more]
Methane Emissions Intensity of Permian Basin Declined by More than Half in Two Years, New S&P Global Commodity Insights Analysis Finds
New analysis provides the most accurate public, basin-wide estimate of methane emissions for the Permian HOUSTON, July 24, 2025 /PRNewswire/ -- The methane intensity of oil and gas production in the Permian Basin—an area responsible for half of U.S. oil production and one fifth of natural gas—declined by more than 50% during the 2022-2024 period as improved operations, better equipment and the utilization of AI and other advanced technologies led to reductions across all observable plume [Read more]
Converging Exxon and Chevron operations could spur next mega-merger: Bousso
Exxon Mobil and Chevron's recent major acquisitions raise a provocative question: does the U.S. still need two energy titans, or might it be more efficient for the two to join forces? An $800 billion combination would certainly evoke memories of Standard Oil, the conglomerate John D. Rockefeller created in 1870 that dominated the American oil industry before the Supreme Court branded it an illegal monopoly in 1911, forcing it to break up into multiple companies from which Exxon and Chevron [Read more]
Oil prices rise on US trade optimism, drop in crude inventories
Oil prices rose on Thursday, buoyed by optimism over U.S. trade negotiations that would ease pressure on the global economy and a sharper-than-expected decline in U.S. crude inventories. Brent crude futures gained 21 cents, or 0.3%, to $68.72 a barrel by 0335 GMT. U.S. West Texas Intermediate crude futures climbed 22 cents, or 0.3%, to $65.47 per barrel. Both benchmarks were little changed on Wednesday as markets monitored developments in U.S.-European Union trade talks, following [Read more]
Headwater Exploration Inc. announces second quarter operating and financial results and declares quarterly dividend
CALGARY, AB, July 23, 2025 /CNW/ - Headwater Exploration Inc. (the "Company" or "Headwater") (TSX: HWX) is pleased to announce its operating and financial results for the three and six months ended June 30, 2025. Selected financial and operational information is outlined below and should be read in conjunction with the unaudited condensed interim financial statements and the related management's discussion and analysis ("MD&A"). These filings will be available at www.sedarplus.ca and the [Read more]
Gran Tierra Energy Inc. Provides Release Date for its 2025 Second Quarter Results
CALGARY, Alberta, July 23, 2025 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) announces that the Company will release its 2025 second quarter financial and operating results on Wednesday July 30, 2025, post-market. Gran Tierra will host its second quarter 2025 results conference call on Thursday, July 31, 2025, at 9:00 a.m. Mountain Time, 11:00 a.m. Eastern Time. How to Participate in the 2025 Second Quarter Conference [Read more]
Whitecap, fresh off Veren deal, reports higher production in Q2
CALGARY - Whitecap Resources Inc., fresh off its $15-billion combination with Veren Inc., has reported higher revenues and oil and gas production in its latest quarterly results. The Calgary-based oil and gas producer says net income was $310.6 million for the three months ended June 30, up from $244.5 million during the same 2024 quarter. That amounted to 33 cents per diluted share compared with 41 cents per share a year earlier. Petroleum and natural gas revenues were $1.37 billion, [Read more]
Whitecap beats Q2 oil and gas revenue estimates
Overview * Whitecap Q2 oil & gas rev beats analysts' expectations, driven by operational performance * Company's production exceeds internal forecasts, supported by asset-level outperformance * Whitecap maintained strong balance sheet, net debt to annualized funds flow ratio at 1.0 times Outlook * Whitecap expects 2025 production at high end of 295,000-300,000 boe/d * Company forecasts H2 2025 production of 363,000-368,000 boe/d * Whitecap maintains 2025 capital budget [Read more]
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