Mergers and Acquisitions:

• Tidewater Midstream (TSX:TWM) has agreed to acquire the North Segment of Pembina's (TSX:PPL) Western Pipeline System for approximately $1.2MM in cash, plus assuming about $30MM in future abandonment and reclamation liabilities. The 377 km crude oil pipeline originates in Taylor, BC and terminates in Prince George, BC.

• Stampede Drilling (TSXV:SDI) has agreed to sell components from a previously acquired A/C triple drilling rig for $5MM in cash, plus additional drilling equipment valued at approximately $290,000.

 Other:

• Pieridae Energy Limited (TSX:PEA) has officially changed its name to Cavvy Energy Ltd., effective May 9, 2025, following approval from shareholders and the TSX. Its shares will begin trading under the new name and ticker symbol “CVVY” on May 13.

• LNG Canada has completed cooldown operations at its Kitimat, B.C. facility and is preparing to produce its first LNG in June, marking a major milestone for Canada’s first LNG export terminal. The project is expected to produce 14 million metric tonnes per year once fully operational.

• Suncor Energy (TSX:SU) has started a three-month outage at its Base Mine upgrader near Fort McMurray to begin replacing coke drums originally installed in 1967. The multi-year project aims to extend the life of the facility by another 30 years.

• Canada recorded a merchandise trade deficit of $506MM in March, narrowing from a $1.4B shortfall in February, as exports to countries outside the U.S. rose despite a decline in U.S.-bound shipments due to new tariffs.

• The Canadian unemployment rate rose to 6.9 per cent in April, a level last seen in November 2024.