August 31, 2026

Canadian Energy Services Newsletter

Mergers and Acquisitions

Oilfield Services

Clairmont-based FluidPRO Oilfield Services Ltd. announced the acquisition of Calgary-based Canadian Energy Group’s Stimulation Services division. The acquisition expands FluidPRO’s offerings into stimulation services and complements its transportation, acid hauling and blending, vacuum and hydrovac, rentals, and logistics divisions.

Midstream & Logistics

Enbridge Inc. (TSX:ENB) announced the US$600MM cash acquisition of Salt Creek Midstream’s crude oil gathering business to expand its presence in the Permian Basin. The acquired assets will directly link Permian crude production with Enbridge’s Ingleside Energy Centre.

E&P

Advantage Energy Ltd. announced the $316MM divestiture of its Wembley assets in AB, which includes 32 net sections of Montney lands, 11.8MM boe of proved developed producing reserves, 27.9MM boe of proved reserves, and 46.1MM boe of total proved plus probable reserves.

E&P

Calgary-based Acerta Energy Ltd. announced the acquisition of Astara Energy Corp., a Calgary-based E&P producer with 5,000 boe of production. The acquired assets will double Acerta’s oil production to 6,200 bpd and complement its Cardium light oil position.

Other

Policy & Power

The New Brunswick government is launching a review of its ban on hydraulic fracturing as part of plans to explore ways to strengthen the provincial economy. Concurrently, the provincial government granted conditional approval for a 500 MW natural gas plant, which is scheduled to begin operations in 2028.

Midstream & Transportation

According to Trans Mountain Corp., the Trans Mountain pipeline ran at 94% capacity during Q2 2026. During Q2, the pipeline carried an average of 840,000 bpd, a 19% increase from the 703,000 bpd during the same period last year.

Market Data

North American Drilling Rig Activity	For the Week Ending		Change Week-Over-Week	Previous Year	Change Year-Over-Year
	28-Aug-26	21-Aug-26		28-Aug-25
Canada
Active Rig Count	220	226	(2.7%)	186	18.3%
Rig Fleet Size	334	334	-	371	(10.0%)
Utilization Rate	66%	68%	(1.8%)	50%	15.7%
USA
Active Rig Count	588	588	0.0%	538	9.3%

US Crude and Natural Gas	For the Week Ending		Change Week-Over-Week	Previous Year	Change Year-Over-Year
	21-Aug-26	14-Aug-26		21-Aug-25
Crude
Production (kbpd)	13,843	13,830	0.1%	13,382	3.4%
Storage Level (kbbl)	428,910	428,815	0.0%	420,684	2.0%
Injection/(Withdrawal) (kbbl)	95	4,405	-	-	-
Natural Gas
Storage Level (Bcf)	3,184	3,169	0.5%	3,199	(0.5%)
Injection/(Withdrawal) (Bcf)	15	16	(6.3%)	13	15.4%

Commodity Prices	Current Week	Previous Week	Change Week-Over-Week	Previous Year	Change Year-Over-Year
	28-Aug-26	21-Aug-26		29-Aug-25
Crude Oil ($US/bbl)
WTI	83.43	86.65	(3.7%)	64.00	30.4%
Brent	89.37	93.60	(4.5%)	68.12	31.2%
WCS	71.05	74.71	(4.9%)	51.66	37.5%
Discount to WTI ($)	12.38	11.94	3.7%	12.34	0.3%
Discount to WTI (%)	14.8%	13.8%	1.1%	19.3%	(4.4%)
Natural Gas
Nymex ($US/MMBtu)	2.88	2.75	4.7%	3.02	(4.6%)
Aeco ($C/MMBtu)	0.75	0.95	(21.1%)	0.65	15.4%