Trio Petroleum (TPET) has acquired certain Saskatchewan heavy oil assets from NovaCor Exploration. The Acquired Assets are located in west-central Saskatchewan and include producing heavy oil wells, associated equipment and infrastructure, and additional development and optimization opportunities. The acquired assets consist of four wells along with a water disposal facility. Three of the wells are currently producing approximately 30 barrels per day, with the fourth well expected to produce approximately ...

Malibu, California, Jan. 05, 2026 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: TPET) ("Trio" or the "Company"), an oil and gas company, today is pleased to announce that its wholly owned Canadian subsidiary, Trio Petroleum Canada, Corp. (the "Company"), has acquired certain Saskatchewan heavy oil assets (the "Acquired Assets") from NovaCor Exploration Ltd. ("NovaCor"). The Acquired Assets are located in west-central Saskatchewan and include producing heavy oil wells, associated equipment and infr ...

Key Takeaways Baytex has reshaped its portfolio, cut debt and improved cash flow visibility ahead of 2026.CNQ offers stable, low-decline production with consistent shareholder returns and disciplined spending.BTE's EPS is projected to grow 9.5% in 2025, while CNQ is expected to see a 0.8% earnings decline.As Oil/Energy investors look toward 2026, balance-sheet strength, capital discipline and earnings visibility are becoming just as important as production growth. Baytex Energy ((BTE) and Canadian Natural R ...

2026 Budget & Guidance - Development capital expenditures are budgeted between $180 million and $190 million[10] - The company forecasts average production between 39,000 and 41,000 barrels of oil equivalent per day (boe/d)[10] - Oil and liquids are expected to comprise approximately 81% of the production mix[10] - Adjusted Funds Flow (AFF) is projected to be between $325 million and $375 million, or $1.75 to $2.00 per share[10] - Free Funds Flow (FFF) is forecasted between $120 million and $170 million, or $0.65 to $0.95 per share, resulting in a free funds flow yield of 25% to 35%[10] - Net debt at the end of 2026 is estimated to be between $645 million and $695 million, with a net debt to adjusted EBITDA ratio of 1.4x to 1.7x[10] Sensitivity Analysis - A $5.00 change in WTI oil price is expected to impact AFF by approximately $50 million[13] - A 1,000 barrel per day change in oil production is projected to impact AFF by approximately $25 million[13] - A $0.01 change in the CAD/USD exchange rate is expected to impact AFF by approximately $8 million[13] - A $0.50 change in AECO gas price is projected to impact AFF by approximately $3 million[13] Development Program Highlights - Approximately 33% of the 2026 development capital is allocated to Open Hole Multi-Lateral (OHML) locations in Southeast Saskatchewan (SE SK)[9, 15] - The company plans for 32 OHML locations in 2026 and has identified over 300 OHML locations in SE SK[15] - The company plans for 23 conventional wells[19]

Core Viewpoint - Baytex Energy Corp. has announced the sale of its U.S. Eagle Ford assets for US$2.305 billion to focus on its higher-return Canadian operations, enhancing its financial position and shareholder returns [1][2][5]. Transaction Details - The transaction is valued at approximately $3.25 billion in cash and is expected to close in late 2025 or early 2026, pending regulatory approvals [1][5]. - A US$200 million deposit will be made by the buyer, which may be forfeited under certain conditions [5]. Strategic Focus - The divestiture allows Baytex to concentrate on its Canadian assets, particularly in heavy oil development and the Pembina Duvernay, which are expected to drive long-term value creation [6][8]. - The company aims to maintain a disciplined growth strategy with an annual production growth target of 3-5% at WTI prices of US$60-65 per barrel [11]. Financial Position - Post-transaction, Baytex will have a net cash position and plans to repay outstanding credit facilities and senior notes, resulting in an industry-leading financial position [6][8]. - The company intends to return a significant portion of the proceeds to shareholders, potentially through share buybacks and maintaining its current dividend of $0.09 per share [6][8]. Production and Reserves - The Canadian portfolio produced 65,000 boe/d in the first nine months of 2025, reflecting a 5% growth compared to 2024 [9]. - The Eagle Ford assets being sold had proved plus probable reserves of 401 million boe as of December 31, 2024, with Q3 2025 production averaging 82,765 boe/d [13]. Future Outlook - Baytex plans to provide detailed guidance for 2026 and a three-year outlook following the transaction's completion, highlighting its streamlined Canadian asset base [12]. - The company has identified approximately 212 drilling locations in the Pembina Duvernay and expects to transition to a one-rig drilling program targeting production of 20,000-25,000 boe/d by 2029-2030 [10].

Core Points - Cardinal Energy Ltd. has announced a monthly dividend of $0.06 per common share, payable on December 15, 2025, to shareholders of record on November 28, 2025 [1] - The production from the Reford Central Production Facility has averaged approximately 4,000 bbl/d of heavy oil, exceeding initial forecasts during the ramp-up phase [2] - The company emphasizes disciplined reservoir management to maximize value and long-term recovery from its thermal project in Reford, Saskatchewan [2][6] Dividend Information - The November dividend of $0.06 per common share is designated as an "eligible dividend" for Canadian income tax purposes [1] - The dividend payment reflects the company's commitment to returning value to shareholders [1] Production Update - Initial production rates from the Reford facility are encouraging, with an average of 4,000 bbl/d, indicating strong early performance [2] - The company is focused on sustainable oil production with low decline rates in Western Canada [6] Company Overview - Cardinal Energy Ltd. operates in the oil and natural gas sector, with a focus on low decline sustainable oil production [6] - The company has completed its first thermal project in Reford and has transitioned to the production phase [6]

Core Points - Strathcona Resources Ltd. will release its third quarter 2025 financial and operating results on November 5, 2025, after market close [1] - A conference call to discuss these results is scheduled for November 6, 2025, at 9:00 AM MT (11:00 AM ET) [1][7] - Strathcona is recognized as one of North America's fastest-growing pure play heavy oil producers, focusing on thermal oil and enhanced oil recovery [3] Company Overview - Strathcona Resources Ltd. operates with an innovative growth strategy through the consolidation and development of long-life assets [3] - The company's common shares are listed on the Toronto Stock Exchange under the symbol SCR [3] - For further information, Strathcona Resources maintains a website at www.strathconaresources.com [3]

Group 1 - Obsidian Energy Ltd. (NYSE:OBE) is involved in the exploration, development, and production of oil and natural gas, with a diverse asset portfolio including light oil, heavy oil, and natural gas properties [1][2] - On September 8, 2023, Obsidian Energy announced significant progress in its second half 2025 program, having drilled 13 wells with early production exceeding expectations, contributing to record output in Peace River [2] - The company improved its financial position by selling InPlay Oil shares, redeeming $30 million in debt, and completing its share buyback plan, which reduced its year-end debt forecast to $213 million [2] Group 2 - BMO Capital maintained an Outperform rating for Obsidian Energy with a price target of C$10 following its guidance for the second half of the year [1] - Despite the positive developments, Jim Cramer expressed caution regarding smaller-cap energy companies like OBE, particularly in light of declining oil prices [1]

Core Viewpoint - Hemisphere Energy Corporation reported its financial and operational results for Q2 2025, declared a quarterly dividend, and provided an operations update, highlighting a focus on shareholder returns and balance sheet strength amid market volatility [1][10]. Financial Highlights - Quarterly production reached 3,826 boe/d, with 99% being heavy oil [5]. - Revenue generated was $24.4 million, equating to $70.06/boe [5]. - Total operating and transportation costs were $14.18/boe, resulting in an operating field netback of $14.9 million or $42.77/boe [5]. - Adjusted funds flow from operations (AFF) was $10.3 million, or $29.47/boe [5]. - Free funds flow amounted to $8.1 million, translating to $0.07/share [5]. - The company distributed $2.4 million in base dividends ($0.025/share) and $2.9 million in special dividends ($0.03/share) during the quarter [5][9]. - Capital expenditures for the quarter were $2.2 million, with a focus on preparatory spending for upcoming drilling [5]. Operational Update - The company deferred most capital spending to the latter part of the year due to economic and oil market volatility, focusing on balance sheet strength and shareholder returns [10]. - The drilling program is scheduled to commence late in Q3 2025, including development wells in Atlee Buffalo and a new well in Marsden [11]. - Hemisphere has nearly $14 million in working capital and an undrawn credit line, positioning it to act on acquisition opportunities and continue shareholder returns [12]. Share Capital - As of August 13, 2025, the company had 95,168,202 common shares outstanding, with total fully diluted shares at 100,281,802 [8]. Dividend Declaration - The Board of Directors approved a quarterly base cash dividend of $0.025 per common share, payable on September 12, 2025, to shareholders of record as of August 29, 2025 [9]. Market Position - Hemisphere Energy is focused on maximizing value-per-share growth through sustainable development of its high netback, ultra-low decline conventional heavy oil assets [14].

Core Viewpoint - Strathcona Resources Ltd. reported its second quarter 2025 financial and operational results, highlighting a quarterly dividend declaration of $0.30 per common share and a strategic transition to a pure play heavy oil business following the divestiture of its Montney assets [1][15]. Financial Performance - The company experienced a decrease in production to 181,368 boe/d, a 7% decline from the previous quarter, attributed to a major turnaround at the Tucker property and the divestiture of the Groundbirch Montney property [8]. - Operating Earnings for Q2 2025 were reported at $225.5 million, translating to $1.05 per share, while Free Cash Flow was $32.0 million, or $0.15 per share [4][8]. - Oil and natural gas sales, net of blending costs, totaled $970.8 million, down from $1,184.8 million in Q2 2024 [3][21]. Production and Sales Metrics - Total oil production averaged 128,803 bbls/d, with 71% of production being oil and condensate [3][4]. - The average WTI price was $63.74 per barrel, a significant decrease from $80.57 in the same quarter of the previous year [3][4]. - The effective royalty rate decreased to 10.8% from 16.4% year-over-year, indicating improved cost management [7]. Strategic Actions - The company completed the sale of its Kakwa and Grande Prairie Montney properties, marking a significant step in its transition to focus solely on heavy oil [8]. - A total gain of approximately $760 million from the sale of Montney assets is expected to be recorded in Q3 2025 [8]. - The major turnaround at the Tucker property was completed safely, with production exceeding expectations due to the performance of new lower drainage wells [9]. Future Outlook - Strathcona's 2025 production guidance remains unchanged at a midpoint of 152 – 158 Mboe/d, with a capital budget of $1.2 billion [12]. - The company is targeting first oil from the Meota Central project in Q4 2026, with a projected peak oil rate of approximately 13 Mbbls/d [10]. - The offer for MEG Energy remains outstanding until September 15, 2025, with intentions to return approximately $10 per share to shareholders if the offer is unsuccessful [13][14].