Mergers & Acquisitions:

• TerraVest Industries Inc. (TSX:TVK) announced the acquisition of Calgary based Superior Pressure Vessels Inc., a manufacturer and service provider of pressurized transport tanks and trailers to enhance manufacturing capabilities in its Compressed Gas Equipment division.

• AKITA Drilling Ltd. (TSX:AKT-A) closed the acquisition of Fox Drilling Ltd. from Paramount Resources Ltd. The acquisition consists of six triple drilling rigs, five of which are high-spec AC walking rigs.

• E&P: Equinor ASA (OSE:EQNR) announced the acquisition of BP’s (LON:BP) 37.2% interest in the Bay du Nord project in offshore Newfoundland and Labrador to become the sole owner of the project. The project is targeting a FID in early 2027 with first oil by 2031.

• E&P: Obsidian Energy Ltd. (TSX:OBE) closed the previously announced $112MM acquisition of Highwood Asset Management Ltd.’s Belly River light oil assets in the Wilson Creek area of Willesden Green.

Financing:

• Stampede Drilling Inc. (TSXV:SDI) announced the receipt of upfront capital from its customer, Greenland Energy Company (NASDAQ:GLND). The capital provided will be used to fund modifications and enhancements required to prepare Stampede’s rigs for Arctic environment and drilling conditions as part of a 5-year contract between both parties.

Other:

• The federal government and the Alberta government announced plans to build a new oil pipeline from Alberta to the Pacific coast. The proposed 1MM bpd pipeline will be built by Trans Mountain Corp. in coordination with Pembina Pipeline Corp. (TSX:PPL), and is expected to break ground in Sep. 2027.

• The federal government and the BC government agreed to accelerate the development of four major LNG export projects: LNG Canada Phase 2, Ksi Lisims LNG, Cedar LNG and Woodfibre LNG. However, the MOU announced maintains the tanker ban off BC’s northern coast.

• Pembine Pipeline Corp. (TSX:PPL), Morgan Stanley Infrastructure Partners, and Kineticor Asset Management announced a positive final investment decision on the Greenlight Electricity Centre, a 932 MW gas-fired combined cycle power generation facility in Sturgeon County. The project is intended to serve a major data centre development. The project will be owned by the parties based on the following equity percentages; 47.5%, 47.5% and 5%.

• According to Shell plc’s LNG Outlook 2026, global LNG demand is forecasted to increase by 700MM tonnes annually by 2050, a 65% increase from 2025 levels.