Mergers and Acquisitions:

• Total Energy Services Inc. (TSX:TOT) announced the US$6.4MM cash acquisition of a fleet of surface rental equipment in Oklahoma via its U.S. subsidiary, Total Oilfield Rentals Inc. The acquisition consists of 280 pieces of rental equipment and inventory of ancillary equipment. The acquisition increases its major rental fleet by 30% in the U.S.

• E&P: The board at MEG Energy (TSX:MEG) recommended its shareholders to reject the ~$6B hostile takeover offer from Strathcona Resources (TSX:SCR).

Financing:

• Calgary based Arkon Solutions Corp., a manufacturer of chemical solutions, announced a $15.7MM credit facility to refinance existing debt and for working capital purposes. The facility was structured as a committed asset-based revolver and term loan to provide additional liquidity to accelerate growth initiatives and to launch new products.

Other:

• Trigon Pacific Terminals announced a Final Investment Decision (FID) to proceed with a 2.5MM mtpa LPG export facility in Prince Rupert, BC. The $750MM facility is expected to begin exports in late 2029.

• The Alberta government to invest over $20MM to launch the Alberta Drilling Accelerator program to be delivered through Emissions Reduction Alberta (ERA). The funding will assist companies advance technologies, reduce emissions, and increase responsible energy production globally. The program will officially launch in fall 2025.

• The Quebec government removed its floor price on gasoline in efforts to bring down gasoline costs for consumers. The floor price was introduced in the 1990s to protect small service stations from being undercut by larger industry participants.

• The World Bank revised its 2025 global growth forecast from 2.7% to 2.3%, citing higher tariffs and increased uncertainty posing “significant headwinds” for all economies. The World Bank also forecasts global inflation to be 2.9% in 2025 given tariff increases and tightening labour markets.