Mergers and Acquisitions:

• TransAlta Corp. (TSX:TA) announced the US$95MM acquisition of Far North Power Corp. and its four natural gas power plants in Ontario. The plants, located in Iroquois Falls, Kingston, North Bay, and Kapuskasing respectively, will add 310 megawatts in capacity to TransAlta’s portfolio.

• Black Diamond Group Ltd. (TSX:BDI) closed the $165.8MM acquisition of Royal Camp Services Ltd., a remote accommodation and catering solutions provider. Royal also owns Summit Camps, an integrated camp services provider and has a partnership with Primco Dene of the Cold Lake First Nations to operate various camps in the Cold Lake and Christina Lake areas.

Other:

• Enbridge Inc. (TSX:ENB) reached a final investment decision on its Mainline Optimization Phase 1 project to increase capacity as it ramps up for increased customer demand. The project is expected to cost US$1.4B and will add 150,000 bbl/d of Mainline system capacity and 100,000 bbl/d at its Flanagan South Pipeline. The project is expected to be completed in 2027.

• The federal government announced the fast tracking of the KSI Lisims LNG facility. The project has a planned capacity of 12MM metric tons per year, which would represent the second largest LNG export terminal nationwide after LNG Canada.

2026 E&P CapEx Updates:

Financial Results: