Mergers and Acquisitions:

• The Competition Bureau reached a mutual agreement with Schlumberger NV (NYSE:SLB) over the latter's proposed acquisition of ChampionX Corporation (NASDAQ:CHX). As part of the agreement, Schlumberger will sell US Synthetic, a ChampionX subsidiary that manufactures PCD cutters and bearings. In addition, Schlumberger will also license intellectual property relating to quartz transducers owned by another ChampionX subsidiary, Quartzdyne.

Financing:

• Stampede Drilling Inc. (TSXV:SDI) entered into an amending agreement to its updated credit agreement, extending the term from September 20, 20226 to September 20, 2028. Stampede has access to a $20MM non-revolving term loan, a $15MM revolving credit facility, and a $15MM additional revolving credit facility.

Other:

• The federal government to offer counter-tariff relief to Canadian oil and gas drilling companies that import frac sand from the U.S. The counter-tariffs were imposed in response to the U.S. tariffs on Canadian exports. Enserva estimates the frac sand tariff would amount to $275MM in additional industry costs annually.

• According to Stats Canada, annual inflation in June was 1.9 per cent, up from the 1.7 per cent recorded in May. The increase was driven by price increases for passenger vehicles and used cars. Gasoline prices were relatively unchanged month over month. Excluding energy, the annual inflation was 2.7 per cent.