Mergers and Acquisitions:

• New York based Terramont Infrastructure Partners announced the acquisition of a majority interest in Calgary based Bull Moose Capital Ltd., a provider of natural gas compression and power generation solutions. The acquisition will better position Bull Moose to expand geographically and to increase focus on larger energy infrastructure projects.

• Vitzrocell, a South Korean portable power solutions provider announced the $33.4MM acquisition of Calgary based Innova Power Solutions Inc., a manufacturer of high-temperature, downhole battery packs for oil and gas drilling. The acquisition will strengthen Vitzrocell’s technological offerings and market presence in the high-temperature battery sector.

• E&P: Topaz Energy Corp. (TSX:TPZ) announced the $71.7MM acquisition of gross overriding royalty interests on 134,000 acres of North Montney drilling land from Tourmaline Oil Corp. (TSX:TOU).

Financing:

• Ensign Energy Services Inc. (TSX:ESN) announced the renewal and expansion of a $950MM credit facility maturing on September 29, 2028. The facility will be used to repay the remainder of its existing term facility and streamlining its capital structure. No mandatory repayments or reductions in availability are required if Ensign remains in compliance with its covenants.

Other:

• Imperial Oil Ltd. (TSX:IMO) announced restructuring efforts to reduce workforce by 20% by the end of 2027 as it seeks to maximize the benefits from technology deployment.

• LNG Canada begun the startup of its second LNG processing unit, Train 2. The unit can process up to 6.5 million tonnes of LNG per annum.

• OPEC+ announced a 137,000 bbl/d increase in production commencing November, below the 500,000 bbl/d hike previously expected as it commits to a gradual, coordinated adjustment approach.