Financing:

• North American Construction Group (TSX:NOA) has agreed to sell $225MM of 7.75 per cent Senior Unsecured Notes due May 1, 2030, through a private placement. Proceeds will be used to repay debt under its existing credit agreement and for general corporate purposes.

 Other:

• SLB (NYSE:SLB), Halliburton (NYSE:HAL) and Baker Hughes (NASDAQ:BKR) flagged worsening market conditions in their respective first-quarter results. SLB cited weaker demand in Latin America, economic uncertainty, volatile oil prices, and rising tariff risks as key challenges, while Halliburton warned of a second-quarter earnings hit from tariffs and reduced North American activity. Baker Hughes also projected deeper spending cuts by global producers amid lower demand expectations and falling crude prices.

• Dow Inc. (NYSE:DOW) is delaying construction on its Path2Zero integrated ethylene cracker and derivatives project in Fort Saskatchewan due to market uncertainty fueled by U.S. trade tariffs.

• According to the Alberta Energy Regulator, the number of licenses for new Canadian gas wells issued in the first quarter rose 26 per cent from the previous quarter to 308, the highest quarterly total in two years. For oil wells, the number fell 24 per cent to 293, the lowest since 2021. Licenses for bitumen wells fell by six to 37.

• The Trump administration will fast-track permits for energy and mining projects on federal lands, cutting approval times to 28 days under an emergency order aimed at boosting domestic energy supplies. The move covers fossil fuels, uranium, critical minerals, and hydropower, but excludes solar and wind projects.