HOUSTON, May 21, 2026 (GLOBE NEWSWIRE) -- Devon Energy Corporation (NYSE: DVN) announced the successful acquisition of 16,300 net undeveloped acres in the core of the Delaware Basin in Lea and Eddy Counties, New Mexico, for approximately $2.6 billion, or approximately $161,500 per net acre, through the Bureau of Land Management (“BLM”) Oil and Gas Lease Sale. This acquisition bolsters the premier Delaware Basin positions in the industry, extends inventory life, and is accretive to net asset [Read more]
News
China kept building its crude stockpile in April despite Iran crisis: Russell
China continued to build its massive stockpile of crude oil in April, even though imports dropped to the lowest in nearly four years. China's surplus crude amounted to about 430,000 barrels per day in April as the 20% drop in imports was outweighed by refinery processing sliding to the lowest since August 2022. The ongoing building of inventories by the world's biggest crude importer underlines that China is in quite a different situation to the rest of the world, which is burning through [Read more]
Oil market clock is ticking as supply crunch looms: Bousso
The oil industry has shown remarkable resilience in the face of the largest energy supply shock in modern history, pulling multiple levers to cushion the blow of the Iran war. But barring a breakthrough in peace talks, the global market may be only months away from a breaking point. The world’s biggest and most liquid commodity market has entered a phase of unprecedented uncertainty since the outbreak of the Iran war and the near-hermetic closure of the Strait of Hormuz – previously the conduit [Read more]
Oil rebounds on Iran peace deal uncertainty and inventory drawdowns
Oil prices edged up on Thursday, paring some previous losses as investors monitored peace talks between the U.S. and Iran, while supply tightness and U.S. inventory drawdowns provided some support. Brent crude futures rose 78 cents, or 0.74%, to $105.80 a barrel by 0341 GMT, and U.S. West Texas Intermediate futures were up 84 cents, or 0.85%, at $99.10. Both benchmarks dropped more than 5.6% on Wednesday to an over one-week low after U.S. President Donald Trump said negotiations with Iran [Read more]
Deep under China’s coal basins, PetroChina is unlocking gas from rocks
Thousands of metres below its vast coal basins, China is tapping an unconventional fuel source in a multi-billion-dollar effort to unleash new supplies of natural gas and further Beijing's goal for energy independence. State energy giant PetroChina's experts forecast the company could produce 30 billion cubic metres (1.06 trillion cubic feet) of coal rock gas by 2035, topping last year's record shale gas output, which made up 10% of the country's production. The push to develop coal rock [Read more]
Headwater Exploration Inc. announces results of annual shareholder meeting
CALGARY, AB, May 20, 2026 /CNW/ - Headwater Exploration Inc. ("Headwater") (TSX: HWX) is pleased to announce that each of the nominees listed in Headwater's management information circular dated April 2, 2026 were elected as directors of Headwater at its annual meeting of shareholders (the "Meeting") held today, May 20, 2026. In addition, all other matters considered at the Meeting were approved by Headwater's shareholders. On a vote by ballot, each of the following nine nominees [Read more]
Bonterra Energy Corp. Announces Approval of All Resolutions at Annual Meeting of Shareholders and Voting Results
CALGARY, Alberta, May 20, 2026 (GLOBE NEWSWIRE) -- Bonterra Energy Corp. (TSX: BNE; OTCID: BNEFF) (“Bonterra” or the “Company”), a Calgary based oil and gas producer, announced that at its annual meeting of shareholders held on May 20, 2026, a total of 12,995,745 shares, representing 35.53% of common shares outstanding, were represented in person or by proxy. Shareholders approved all resolutions listed in the management information circular dated April 1, 2026, including the election of each of [Read more]
Whitecap Resources Inc. receives TSX approval for renewed normal course issuer bid
CALGARY, AB, May 20, 2026 /CNW/ - Whitecap Resources Inc. ("Whitecap") (TSX: WCP) is pleased to announce that the Toronto Stock Exchange (the "TSX") has accepted Whitecap's notice of intention to commence a normal course issuer bid (the "NCIB"). The NCIB allows Whitecap to purchase up to 120,706,244 common shares (representing 10% of Whitecap's public float, as defined by the TSX, as of May 11, 2026) over a period of twelve months commencing on May 25, 2026. On May 11, 2026, Whitecap had [Read more]
Tuktu Resources Ltd. Announces First Quarter 2026 Results
Calgary, Alberta--(Newsfile Corp. - May 20, 2026) - Tuktu Resources Ltd. (TSXV: TUK) ("Tuktu" or the "Company") is pleased to announce its financial and operating results for the three months ended March 31, 2026. Selected financial and operating information should be read in conjunction with Tuktu's unaudited interim condensed financial statements and related management's discussion and analysis ("MD&A") for the three months ended March 31, 2026, copies of which are available on the [Read more]
US oil and gas auction for New Mexico leases draws record $4 billion in bids
A Trump administration sale of oil and gas drilling rights on federal lands in New Mexico and Texas generated $4 billion in winning bids, the Interior Department said on Wednesday. The sale's total obliterated that of previous onshore government oil and gas auctions at a time when the Iran war has cut global supplies and raised demand for U.S. crude oil. The previous record total for a Bureau of Land Management oil and gas lease sale was $972 million in 2018, according to trade group Western [Read more]
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