Greenfire Resources said on Monday that it has agreed to acquire privately held Connacher Oil and Gas Limited for around C$1.27 billion ($900 million) in cash. On a combined basis, Greenfire's 2026 production is expected to rise to about 34,000 barrels per day, with combined reserves of 850 million barrels, with a long-term plan to increase production to about 65,000 barrels per day. * Connacher is a thermal oil sands company with a 100% operated interest in the Great Divide oil sands [Read more]
Headlines
Trump says the US will control Strait of Hormuz and get paid for it
President Donald Trump said on Monday that the United States would probably take over the Strait of Hormuz and should be reimbursed for controlling the vital waterway. "We're going to keep the strait, and we'll probably run it. We'll become the guardian of the strait. Maybe we'll call it the guardian angel of the strait. And we should be reimbursed for that," he said in a phone interview on Fox News' "Fox & Friends" program. Control of the Strait of Hormuz, a vital route for global oil [Read more]
Asia’s LNG imports recover, drawing cargoes from needy Europe: Russell
Asia's imports of liquefied natural gas (LNG) are poised to hit a six-month high in July while Europe's imports plunge to their lowest in nearly two years. While some of the strength in Asia is because of seasonal demand during the summer peak, the weakness in Europe underscores just how far the second-biggest consuming region is falling behind in building inventories for winter demand. Asia's imports of the super-chilled fuel are estimated at 23.05 million metric tons in July by commodity [Read more]
Greenfire Resources Announces Intention to Conduct Rights Offering
Calgary, Alberta--(Newsfile Corp. - July 13, 2026) - Greenfire Resources Ltd. (NYSE: GFR) (TSX: GFR) ("Greenfire" or the "Company") today announced its intention to undertake a rights offering of its common shares (the "Rights Offering") in connection with its proposed acquisition of Connacher Oil and Gas Limited (the "Acquisition"). The Company expects to launch the Rights Offering in August 2026 for gross proceeds of at least $575 million, subject to receipt of all necessary approvals and [Read more]
Greenfire Resources Announces Acquisition of Connacher Oil and Gas Limited for C$1.277 Billion in Cash Consideration
Readers are advised to review the "Non-GAAP and Other Financial Measures" section of this press release for information regarding the presentation of financial measures that do not have standardized meaning under IFRS Accounting Standards. Readers are also advised to review the "Forward-Looking Information" section of this press release for information regarding certain forward-looking information and forward-looking statements contained in this press release. All amounts in this press release [Read more]
Enerflex Ltd. Announces Director Resignation
CALGARY, Alberta, July 13, 2026 (GLOBE NEWSWIRE) -- Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) (“Enerflex” or the “Company”) today announced that Fernando Assing will resign from the Board of Directors (the “Board”) effective July 17, 2026, to allow him to focus on other professional commitments, including his responsibilities as Chief Executive Officer of Camin Cargo Control. Mr. Assing joined the Board in August 2020 and has served with distinction, including as a member of the Human Resources [Read more]
Cheap drones turn energy into the global economy’s weak spot: Bousso
Cheap, mass-produced drones have transformed modern warfare, exposing critical energy infrastructure as an Achilles' heel for modern economies. Lessons from the battlefields of Ukraine, Russia and the Middle East have shown how unmanned aircraft can evade traditional air defences, turning oil refineries, power stations, export terminals and pipelines into prime targets. The implications for the energy industry are profound. Facilities that took decades and billions of dollars to build can now be [Read more]
Turbulent month of economic data leaves Bank of Canada right back where it started
OTTAWA - The Bank of Canada is set to make its fifth interest rate announcement of the year on Wednesday following a turbulent few weeks on the global stage and in Canadian economic data. Despite the flurry of developments since the central bank's last rate decision in June, most economists are expecting monetary policymakers to leave the key borrowing rate unchanged at 2.25 per cent. The Bank of Canada has been walking a tightrope lately as forces like U.S. tariffs and the Iran war [Read more]
Iran escalates attacks on US bases in Gulf states, warns of more ‘incidents’ in strait
U.S. and Iranian forces exchanged heavy missile and drone assaults, with Tehran targeting U.S. facilities in states across the Gulf and saying it had again closed the vital Strait of Hormuz, sending oil prices higher. Iran's Revolutionary Guards said on Monday they targeted U.S. military facilities in Bahrain and Kuwait, destroyed radar systems in Oman, and struck fuel tanks and ammunition depots at Prince Hassan Air Base in Jordan in their latest response to another wave of U.S. [Read more]
Hormuz traffic slows to multi-week low as renewed US, Iran strikes raise safety risk
The number of vessels transiting the Strait of Hormuz fell to multi-week lows on Sunday, shipping data showed, as renewed strikes between the U.S. and Iran and attacks on ships in the Middle East heightened safety concerns. Six vessels transited the strait on Sunday, ship-tracking data from Kpler showed, the lowest number in five weeks. Tankers that exited the strait included the Very Large Crude Carrier Humanity, laden with 2 million barrels of Iranian oil and another tanker, Capetan [Read more]
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