Tuesday, October 27, 2026
HH: $3.03 +0.3%

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What moved on Canadian listed names

A few notes each day on what actually happened: a deal close, a dividend date, a guidance tweak. Written here, not copied off a wire. 240 pieces if you need to catch up.

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Oil

Ovintiv Agrees to Buy Logan Energy for $1.40 Cash. Logan Oil Spin Is Not Closing Day

Logan Energy said October 26 it signed an arrangement agreement for Ovintiv Canada to acquire all Logan shares for $1.40 cash each, valuing Logan at about $1.26 billion including net debt, alongside a spin-out of Logan Oil Corp. to shareholders. Total headline consideration is about $1.48 per share when the spin and warrants are included. This is a signed plan of arrangement. It is not shareholder approval and not an effective close.

Markets

Canadian Natural Targets November 5 for Q3. Horizon Turnaround Is Not Today's Filing

Canadian Natural Resources lists November 5, 2026 for third-quarter results on its investor events page, with a conference call at 9:00 a.m. Calgary time. The November date is the company calendar. It is not filed Q3 cash flow and not a Horizon maintenance completion certificate.

Oil

Imperial Sets October 30 Q3 Call at 9:00 a.m. MT. Kearl Volumes Are Not in This Note

Imperial Oil said October 20 it will host a third-quarter 2026 earnings call on Friday, October 30, after that morning's results release. Chairman and CEO John Whelan and investor relations will take analyst questions on a webcast starting at 9:00 a.m. Mountain. This is the call invitation. It is not Q3 net income.

Oil

Suncor Sells East Coast Stakes to Ithaca for C$1.2 Billion. Buyback Pace Rises

Suncor Energy said October 4 it agreed to sell its interests in Terra Nova, White Rose, and West White Rose to Ithaca Energy for C$1.2 billion upfront plus up to C$350 million in contingent payments, while lifting its share repurchase target to C$750 million per month from C$500 million. The deal is a portfolio carve-out. It is not a Fort Hills operating update.

Markets

Ensign Books November 6 for Q3 2026. The Release Is Not Rig Count Yet

Ensign Energy Services said October 26 it will report third-quarter 2026 results on Thursday, November 6, with a conference call the same morning at 10:00 a.m. Mountain. The Calgary services name is calendar-only today. It is not quarterly financials and not a fleet utilization update.

LNG

Woodfibre Deetken Study Cites $13.6 Billion Output. First LNG Is Still 2027

Woodfibre LNG said October 22 a Deetken Insight report puts nearly $13.6 billion in Canadian economic output from construction so far and $11.6 billion in projected government revenue over 40 years. Enbridge Inc. owns 30 percent. The project is about 75 percent complete. That is an impact study, not first cargo.

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Trends

Macro read-through from the archive

When the book moves, we rebuild the sector view — gas, oil, pipes, power — from everything we have filed. Members get the full dashboard, the notebook, and a promoted company.

WTI is $100.85/bbl, -0.9% on the session. Brent is $109.78/bbl. Henry Hub is $3.03/MMBtu, +0.3%. Dutch TTF is €96.08/MWh, about $31.47/MMBtu (-0.6%). The seaborne bid is still far above the North American prompt. Latest: Ovintiv Agrees to Buy Logan Energy for $1.40 Cash. Log...

Last analysis: Oct 27, 2026 2:07 AM UTC · October 2026

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Analysis from Oct 27, 2026 2:07 AM UTC
HH $3.03/MMBtu this session (+0.3%). TTF ~$31.47/MMBtu.
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Pipelines latest

Updated October 21, 2026

Natural gas compressor station in a canyon
Pipelines

Enbridge Put Aspen Point In Service. Sunrise Is Still Later

Enbridge said Tuesday its $1.2 billion Aspen Point expansion on Westcoast is complete and in service, adding 535 million cubic feet a day. The company hosted an event at CS-1B Wǫchiigii south of Taylor. That is gas on an existing corridor. It is not Sunrise, not CGL Phase 2, and not a CNW earnings note.

September 30, 2026 3 min read
Natural gas compressor station and yard piping
Pipelines

TC Energy Is Taking CGL Phase 2 Ahead. First Gas Is Still the 2030s

TC Energy said this morning Coastal GasLink Phase 2 will proceed after LNG Canada and its joint-venture participants called a positive FID on the Kitimat expansion. That met the condition on TC Energy's earlier conditional FID. Construction is early 2027. In-service is the early 2030s.

September 29, 2026 3 min read
Pipelines

The Santos HOA Still Needs a Pipe to the Coast. Ksi Lisims Has Not Called Construction

Ottawa's September 15 note puts Ksi Lisims at 12 million tonnes a year and about $30 billion. Santos said the project is a proposed 12-million-tonne floating export plant on Nisga'a land, fed from the Montney. No pipe-start or FID landed with the HOA.

September 16, 2026 3 min read
Pipelines

Enbridge Says Line 5 Returned to Service Over the Weekend Through the Bypass

In a September 14 update posted at 11:03 a.m. Central Time, Enbridge said teams safely returned Line 5 to service over the weekend using a temporary bypass around the damaged section near Saxon, Wisconsin. Site remediation continues. The Wisconsin DNR's September 9 halt request is still outstanding.

September 14, 2026 3 min read
Pipelines

Line 5 Is Two Days Past the Restart Target. Enbridge Still Has Not Confirmed Flow

Enbridge's last Line 5 note remains the September 12 update at 4:51 p.m. Central. The bypass passed its overnight pressure test and return to service is underway under a PHMSA plan. There is no Sunday or Monday company update. The company has not said the line is flowing.

September 14, 2026 3 min read
Pipelines

Coastal GasLink Phase 2 Has Commercial Paper. Doubling the Line Still Needs FID

On March 25 TC Energy said Coastal GasLink signed commercial agreements with LNG Canada covering a doubling of gas transmission on the existing Kitimat line. Phase 2 remains subject to an LNG Canada final investment decision and CGL approvals.

September 14, 2026 3 min read
Pipelines

Enbridge Pressure-Tested the Line 5 Bypass Overnight. Return to Service Is Still Underway

In a September 12 update posted at 4:51 p.m. Central Time, Enbridge said crews successfully pressure-tested the temporary bypass overnight and are working through the regulated process of finalizing Line 5's return to service under a PHMSA-approved plan. The company did not say the line is flowing.

September 12, 2026 3 min read
Pipelines

Enbridge's Saturday Line 5 Update: The Bypass Is Welded. Flow Is Not Confirmed

In a September 11 evening update Enbridge said mechanical construction of the Line 5 temporary bypass is finished and that a pressure test ran that day before line fill under a PHMSA-approved plan. The company still targeted return to service September 12. As of Saturday morning there is no confirmation the line is flowing.

September 12, 2026 3 min read
Pipelines

Wisconsin's DNR Asked Enbridge to Halt the Line 5 Bypass. Restart Is Still Tomorrow on the Company Clock

On September 9 DNR Secretary Karen Hyun asked Enbridge to stop temporary bypass work near Saxon, citing missing wetland and waterway approvals. Enbridge said Friday it is still working the spill site and the bypass in parallel toward a September 12 return to service.

September 11, 2026 3 min read
Pipelines

Interprovincial Pipes Now Go to the CER Alone. The Dual Review Is Off the List

The September 9 Physical Activities Regulations amendments send interprovincial and international pipelines, plus designated power lines, to a Canada Energy Regulator assessment instead of an integrated Impact Assessment Act panel.

September 11, 2026 3 min read
Pipelines

Pembina's West Coast HOA Points at September Definitives. FID Is Still Later

On July 2 Pembina signed a non-binding heads of agreement to join a proposed one million barrel a day Alberta-to-West Coast oil corridor with Ottawa, Alberta, and Trans Mountain Corporation. Pembina's economic interest starts at 10 percent. Definitive agreements are targeted for September 2026.

September 2, 2026 3 min read
Pipelines

KKR and Apollo Are Buying 29 Percent of Westcoast. Enbridge Still Runs the Pipe

On August 27 Enbridge said KKR, with Apollo, will put about C$2.7 billion into a joint venture that funds the Aspen Point and Sunrise expansions on Westcoast. Enbridge gets about C$0.7 billion cash at close. The investors take an indirect 29 percent of the system when Sunrise is in service. Close still has conditions. 2026 guidance did not move.

August 28, 2026 3 min read
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