BOE Report

Headlines

Andy O’Brien, the insider poised to lead ConocoPhillips

0 Comments

ConocoPhillips on Thursday named finance chief Andy O'Brien as CEO, succeeding Ryan Lance, who will transition to executive chair on September 1 after more than a decade leading the U.S. oil producer. O'Brien takes the reins of a company that has one of the strongest balance sheets among independent exploration and production companies. Here are some details about O'Brien: LONG-TIME CONOCO VETERAN O'Brien joined legacy Conoco in 1997 and has spent nearly three decades with the [Read more]

Oil traders double down on Iran deal bet as odds worsen: Bousso  

0 Comments

Global crude prices have fallen back towards $80 a barrel on expectations that a U.S.-Iran dealwill reopen the Strait of Hormuz, echoing the market response before the largely failed mid-June ceasefire. But the global energy market is now far more precarious, making traders' optimism even less justified. Brent crude oil has tumbled from its recent high of roughly $100 a barrel on July 23 to around $80 after U.S., Iranian and Gulf officials indicated they were closing in on a new arrangement that [Read more]

Iran warns Gulf states: tell Trump to desist or we hit you hard

0 Comments

Iran has made a concerted diplomatic push with Gulf states, warning them explicitly that Tehran will hit their oil, power and water plants unless they convince Donald Trump to end U.S. strikes on Iran and instead seek a negotiated end to the war. The warning envisaged attacks on the energy facilities, oil fields, refineries, electricity grids, water infrastructure, transport networks and other strategic assets of Washington's closest Arab allies, according to a senior Iranian official. The [Read more]

Lycos Energy Inc. announces closing of previously announced strategic acquisition of Sparky waterflood assets, $34.5 million equity financing and expanded credit facility

CALGARY, AB, Aug. 6, 2026 /CNW/ -- Lycos Energy Inc. ("Lycos" or the "Company") (TSXV: LCX) is pleased to announce the closing of its previously announced acquisition of high netback assets under waterflood targeting the Sparky formation in the Greater Provost area of Alberta for cash consideration of $70.0 million, prior to closing adjustments (the "Acquisition"). Lycos is also pleased to announce the closing of the previously announced bought deal equity financing, including the full [Read more]

Proposed Hormuz passage deal not feasible for shipping industry, sources say

0 Comments

A proposed deal between Iran and Oman that would give Tehran control over ships entering the Gulf through the Strait of Hormuz is not easily workable due to U.S. sanctions and restrictive insurance clauses on any payments, four industry sources said. Until U.S.-Israeli airstrikes at the end of February unleashed war in Iran, the narrow waterway between the Gulf and the Indian Ocean was the main route for about a fifth of world oil supplies and other vital goods. It was freely open to all ships [Read more]

Canadian Natural Resources beats quarterly profit estimates

0 Comments

Canadian Natural Resources surpassed expectations for second-quarter profit on Thursday, benefiting from higher oil and natural gas production. Canadian oil sands producers have shown resilience during the global oil industry downturn, buoyed by years of investment that have made them among the lowest-cost operators in North America. Oil prices, buoyed by Middle East supply fears after months of Israel-Iran strikes, have handed Canadian Natural Resources and its oil sands peers a windfall, [Read more]

Elliott Issues Statement on Suncor Leadership Transition

  WEST PALM BEACH, Fla., Aug. 6, 2026 /CNW/ -- Elliott Investment Management L.P. ("Elliott"), which manages funds that together hold a significant investment in Suncor Energy, Inc. (NYSE: SU) ("Suncor" or the "Company"), today issued the following statement: Elliott congratulates Rich Kruger on his announced upcoming transition from President and CEO of Suncor to the role of Executive Vice Chair, effective April 2027. We are also confident that Peter Zebedee is the right [Read more]

Tourmaline announces renewal of normal course issuer bid

CALGARY, AB, Aug. 6, 2026 /CNW/ -- Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") is pleased to announce that the Toronto Stock Exchange (the "TSX") has approved the renewal of Tourmaline's normal course issuer bid (the "NCIB"). The NCIB allows Tourmaline to purchase up to 15,544,068 common shares (representing 4% of its 388,601,707 issued and outstanding common shares as of July 31, 2026) over a period of twelve months commencing on August 10, 2026. The NCIB will [Read more]

Japex to buy US tight oil and gas assets for $320 million

0 Comments

Japan Petroleum Exploration said on Thursday it will acquire all equity interests in four Fundare companies holding tight oil and gas assets in Colorado and Wyoming for about $320 million. * The acquisition, expected to close in the October-December quarter, follows the purchase of adjacent Verdad Resources assets in February and is expected to lower costs through operational synergies and improve development efficiency. The Fundare companies produced an average of 9,500 barrels of oil [Read more]

ConocoPhillips completes $1.7 bln asset sale, hits divestiture target early

0 Comments

ConocoPhillips said on Thursday it has completed the sale of $1.7 billion of noncore Lower 48 assets in July, helping the U.S. oil producer reach its $5 billion asset disposition target ahead of schedule. Here are some details: * Asset sales have become a key step for large shale producers looking to streamline operations, strengthen balance sheets and boost shareholder payouts while prioritizing returns over production growth. * The company disclosed the sale while reporting [Read more]