M&A:

• E&P: US based MidOcean Energy announced the acquisition of a 20 per cent interest in PETRONAS’ Canadian LNG and upstream holdings. The acquisition includes a 20 per cent interest in the North Montney Upstream Joint Venture, and a 20 per cent stake in the North Montney LNG Limited Partnership. The latter owns PETRONAS’ 25 per cent interest in the LNG Canada project.

• E&P: Bonterra Energy Corp. announced the acquisition of an asset adjacent to its existing Charlie Lake operations from a private company for $15.7MM. The acquired assets have 760 boed of existing production and are synergistic to its current infrastructure footprint.

Other:

• Ovintiv (TSX:OVV) announced an agreement with Pembina Pipeline Corp.’s (TSX:PPL) subsidiary to provide liquefaction and transportation at the Cedar LNG project for 12 years. Cedar LNG is expected to begin commercial operations in late 2028.

• The federal government announced new regulations to reduce methane emissions from the oil and gas sector and landfills. The Enhanced Methane Regulations apply to all upstream production, processing and transmission facilities, which includes gas plants and pipelines. With a focus on strengthening leak detection and repair requirements as well as establishing new standards on venting, the new regulations will be implemented in January 2028.

2026 E&P CapEx Updates: