Following an announcement that Strathcona Resources Ltd. intends to begin a takeover bid for MEG Energy Corp., executive chair Adam Waterous emphasized the degree to which he believes the businesses are alike and fit “hand-in-glove.”
Strathcona Resources Ltd. intends to begin a takeover bid for MEG Energy Corp.
During the first and second quarters of 2025, Strathcona Resources Ltd. said it acquired approximately 23.4 million MEG Energy Corp. shares through open market purchases, representing approximately 9.20 per cent of the issued and outstanding MEG shares as of May 5, 2025 or approximately 9.98 per cent assuming completion in full of MEG’s current normal course issuer bid.
While he couldn’t comment directly on the news that Strathcona Resources Ltd. intends to begin a takeover bid for MEG Energy Corp., South Bow Corporation president and CEO Bevin Wirzba doesn’t expect his company’s business to be impacted if a deal were to happen.
U.S. President Donald Trump’s on again-off again global trade war is adding to turmoil in commodity markets, creating opportunities for Keyera Corp.’s marketing business to increase margins, company executives said at its first quarter 2025 earnings call.
U.S. operators with low carbon investments in hydrogen production or carbon capture and storage are pushing ahead while awaiting any changes to incentives under the proposed new federal budget.
Do you have a few minutes? Help us understand the current trends in oilfield services and data usage in the Western Canadian Sedimentary Basin.
DOB Energy has published the April edition of the On The Move newsletter.
DOB Energy will not publish on Monday, May 19, due to the Victoria Day holiday.
Crude oil pipeline capacity in the Western Canadian Sedimentary Basin continues to exceed crude oil supply, and, as a result, the demand for uncommitted capacity on South Bow Corporation’s Keystone Pipeline is expected to remain low in the near term.
ARC Resources Ltd.’s $1.6 billion acquisition of Strathcona Resources Ltd.’s Kakwa assets will add production and cash flows, while extending ARC’s plateau production at Kakwa for up to three years, the company said.
Occidental Petroleum Corporation and its subsidiary 1PointFive announced an agreement with XRG, ADNOC’s investment company, to evaluate a potential joint venture to develop a direct air capture (DAC) facility in South Texas.
Drilling rig activity in Western Canada and the Top 10 active operators as of May 16, 2025, as reported this morning by Rig Locator.
The U.S. rig count is down two from last week to 576 with oil rigs down one to 473, gas rigs down one to 100 and miscellaneous rigs unchanged at three.
This week a worker was injured while at an NGTL compressor station near Stettler, noted the Canada Energy Regulator (CER).
Bonterra Energy Corp. successfully expanded its Charlie Lake operations north of the Peace River with the drilling and completion of a three-well horizontal pad and construction of a new oil battery, pipeline and water disposal well, ahead of schedule and on budget.
The first quarter was “very active” operationally Logan Energy Corp. progressed its organic growth program and major infrastructure build.
In Q1 2025, Prairie Provident Resources Inc. drilled three gross (3.0 net) new wells in the Basal Quartz formation.
In total, 322 gross wells (4.7 net wells) were drilled on Freehold Royalties Ltd.’s royalty lands in Q1-2025, a 12 per cent increase (12 per cent on a net basis) compared to the previous quarter.
Lotus Creek Exploration Inc. invested a total of $9.6 million of capital during the first quarter.