Stories in this section
Oil in this edition
On September 9 Enbridge announced a definitive agreement to acquire Tallgrass Energy's crude oil business for US$2.55 billion cash. Assets include 75 percent of the Pony Express pipeline, Rockies storage, and marketing arm Stanchion Energy. Close is expected later in 2026.
CNQ declared on August 5 a quarterly dividend of $0.625 per share payable October 2 to shareholders of record at the close today, September 11. Second-quarter production averaged a record 1,677,000 boe per day with $6.9 billion of adjusted funds flow.
Suncor said August 6 that Peter Zebedee will become President and Chief Financial Officer on September 14 with oversight of all non-operating functions. He is slated to become President and CEO in April 2027 when Rich Kruger moves to Executive Vice Chair.
CNQ declared on August 5 a quarterly dividend of $0.625 per share payable October 2 to shareholders of record September 11. Second-quarter production averaged a record 1,677,000 boe per day with $6.9 billion of adjusted funds flow.
Suncor said August 6 that Peter Zebedee will become President and Chief Financial Officer on September 14 with oversight of all non-operating functions. He is slated to become President and CEO in April 2027 when Rich Kruger moves to Executive Vice Chair.
On September 8 Tamarack Valley and Headwater announced an all-stock combination valued at $10 billion. Headwater shareholders get one Tamarack share each. Run-rate Clearwater production exceeds 80,000 boe per day. Non-core assets move into a new Tributary Exploration vehicle.
CNQ declared on August 5 a quarterly dividend of $0.625 per share payable October 2 to shareholders of record September 11. Second-quarter production averaged a record 1,677,000 boe per day with $6.9 billion of adjusted funds flow.
Suncor said August 6 that Peter Zebedee will become President and Chief Financial Officer on September 14 with oversight of all non-operating functions. He is slated to become President and CEO in April 2027 when Rich Kruger moves to Executive Vice Chair.
Enbridge brought the Houston Oil Terminal into service in July 2026. EHOT has three lateral pipelines and four above-ground tanks with 2.5 million barrels of initial shell capacity, linking Alberta heavy crude to Gulf Coast refineries and export docks.
On August 6 Suncor said Peter Zebedee will become President and Chief Financial Officer on September 14, 2026, with oversight of all non-operating functions. He is slated to become President and CEO in April 2027 when Rich Kruger moves to Executive Vice Chair.
On July 29 Whitecap reported record Q2 2026 funds flow of $1.4 billion, or $1.11 per share, and raised annual production guidance to 384,000 to 386,000 boe per day. Operating costs fell about 13 percent since the Veren deal closed.
CNQ declared on August 5 a quarterly dividend of $0.625 per share payable October 2 to shareholders of record September 11. Q2 production averaged a record 1,677,000 boe per day with $6.9 billion of adjusted funds flow.
On September 1 Paramount declared a cash dividend of $0.05 per common share, payable September 29 to shareholders of record September 15. The amount matches Paramount's monthly dividend cadence.
Surge confirmed August 17 that a $0.043333 dividend for August production pays September 15 to record holders August 31. July 29 Q2 paper kept 2026 exit guidance at 24,000 boepd and capital at $175 million with heavier waterflood spend.
On July 30 Baytex reported Q2 production of 71,243 boe per day and raised full-year guidance to about 71,000 boe per day. Capital stayed at about $625 million. Gilby Duvernay and Peavine heavy oil drove the increase.
Imperial declared a third-quarter dividend of 87 cents per share on July 31, payable October 1 to shareholders of record September 4. The amount matches Q2. Imperial cited 31 consecutive years of annual dividend increases.
On August 26 Ovintiv said it entered more than 60 transactions year to date adding about 41,000 net acres across the Permian and Montney for roughly $460 million. The deals add 240 net 10,000-foot equivalent locations. About half the spend is in each basin.
Suncor declared a quarterly dividend of C$0.60 per share on August 4, payable September 25 to shareholders of record at the close today, September 4. The amount matches the prior quarter.
On August 6 CNQ reported record Q2 production of 1,677,000 boe per day and lifted 2026 guidance to 1,637,000 to 1,682,000 boe per day. Adjusted funds flow was $6.9 billion. Medium and long-term oilsands growth stays paused until the trilateral MOU becomes definitive agreements targeted for November.
On July 29 Cenovus lifted full-year 2026 upstream guidance to 970,000 to 1,010,000 boe per day, up 25,000 boe per day. Oil sands unit operating costs were cut to $10.75 to $11.75 per boe. Capital stayed $5.0 billion to $5.3 billion. July production was on track to pass one million boe per day for the month.
On August 26 Ovintiv said its 2026 ground game has more than 60 deals for about 41,000 net acres in the Montney and Permian at about $460 million. That is 240 net 10,000-foot locations. Remaining closes are aimed at year-end. The company reports in U.S. dollars. These are inventory adds, not a production raise.
On July 23 Headwater said second-quarter volumes hit a record 24,567 boe/d, up 10 percent. Adjusted funds flow was $117.7 million. The dividend is $0.12, payable October 15. Current Marten Hills West talk is more than 18,000 boe/d with more than 8,500 barrels a day on secondary recovery. That is not year-end 16,000 barrels supported.
On July 28 Tamarack said Charlie Lake closed June 15 for $803.8 million before adjustments. Second-quarter corporate volumes were 69,229 boe/d. Clearwater was 53,598 boe/d. Run-rate after the sale is more than 54,000 boe/d, 92 percent liquids. Net cash was $132.6 million. Annual guidance is now 61,500 to 63,000 boe/d.
On July 30 Baytex said second-quarter volumes were 71,243 boe/d, 88 percent oil and NGLs, above the old 69,000 to 71,000 guide. Full-year production is now about 71,000 boe/d. Exploration and development spend is still about $625 million. Net cash was $566 million. The first Gilby Duvernay pad is a June IP30, not a 2026 reserve add.
On August 6 Kelt said second-quarter volumes hit a company record 50,388 boe/d, 39 percent oil and NGLs. Realized oil was $131.65 a barrel. Gas was $2.14 per Mcf. Five wells off the 7-8 pad were aimed at late August. Full-year production guidance did not move.
On July 29 Athabasca said Leismer is on track for about 31,000 barrels a day at year-end 2026 and 40,000 by the end of 2027. Corner Phase 1 is a $560 million, 15,000-barrel modular plant with first steam aimed at early 2029. Sanction waits on Alberta's new oil sands fiscal framework.
Ovintiv's July 23 Q2 release put volumes at 615,000 boe/d and oil and condensate at 206,000 barrels a day. Anadarko closed for about $2.82 billion. Full-year oil and condensate is now 210,000 to 212,000 barrels a day. Capital did not move.
Imperial's July 31 Q2 release showed $2,190 million of net income and 414,000 barrels a day upstream. Kearl did 257,000 barrels gross. After the quarter, Ottawa, Alberta, and oil-sands companies signed a non-binding trilateral memo. Pathways still needs real agreements.
On August 21, Cenovus walked Saskatchewan residents through a proposed diluent solvent-aided expansion at Spruce Lake. The company says it would add about 10,000 barrels a day and cut GHG per barrel by 30 percent. Construction is slated to start later this year.
Suncor's August 4 Q2 release said monthly share repurchases move from $350 million to $500 million starting this month. Rich Kruger is slated to become executive vice chair in April 2027. Peter Zebedee is the named successor. Elliott, a large holder, blessed both moves.
CNQ's August 6 Q2 release said oil sands mining averaged about 625,000 barrels a day, 106 percent upgrader utilization, and the highest mining netback the company has posted in a quarter. Eight operational and financial records, by their count.
WCP's July 29 Q2 release raised annual production to 384,000 to 386,000 boe a day. CFO Thanh Kang restated that range at an ATB Cormark event on August 20, with a $75 WTI and C$2/GJ AECO deck that pencils $2.2 billion of free cash flow.
Analyzing Eric Nuttall's insights, this piece discusses the expected decline in U.S. shale production if WTI prices drop below $60, and how this could impact global oil supply and prices, particularly in the context of anticipated incremental supply by Q4/2025.
This article explores the forecasted increase in global oil demand and its impact on oil supply, which has already risen by 330 kb/d in May to 105 mb/d. It delves into the potential price volatility and market adjustments necessary to meet the growing demand.
Analyzing the decline in U.S. crude exports to Europe and Asia, this article explains the shift towards cheaper medium-sour barrels and its implications for global oil markets and refining strategies.
Discussing the interplay between OPEC production levels, U.S. shale output, and global demand, this article provides insights into the potential price dynamics and inventory trends in the oil market for the remainder of 2025.
September 11, 2026
September 10, 2026
September 9, 2026
September 8, 2026
September 7, 2026
September 6, 2026
September 5, 2026
September 4, 2026
September 3, 2026
September 2, 2026
September 1, 2026
August 28, 2026
August 27, 2026
August 26, 2026
August 25, 2026
August 24, 2026
August 23, 2026
August 22, 2026
August 21, 2026
August 18, 2026
June 17, 2025
June 12, 2025