First, tensions continue rapidly escalating with Venezuela and anxious leftists in Cuba and Nicaragua who rely on Venezuelan oil are starting to shake a little in their jack boots. Joining me now is Florida Congresswoman Maria Elva Salazar. She's member of the House Foreign Affairs Committee.Great to see you, Congresswoman. Thanks so much for being here. So the US has just designated the Maduro regime essentially because of their association with this group a foreign terrorist organization.That that is big ...

French oil major TotalEnergies said on Tuesday it will challenge a French Competition Authority ruling that fined the company over its petroleum supply practices in Corsica. ...

Core Insights - Prairie Provident Resources Inc. reported its financial and operational results for Q3 2025, highlighting a net loss of $6.9 million, which is a reduction of $12.0 million compared to Q3 2024 [6][7]. Financial Highlights - Revenue from petroleum and natural gas sales for Q3 2025 was $9.394 million, down from $12.554 million in Q2 2025 and $9.651 million in Q3 2024 [6]. - The net income (loss) for YTD 2025 was $(19.535) million, compared to $(6.841) million for YTD 2024 [6]. - Adjusted Funds Flow (AFF) for Q3 2025 was $(557,000), a decrease from $3.117 million in Q2 2025 and an increase from $264,000 in Q3 2024 [6][8]. Operational Highlights - Average production for Q3 2025 was 2,295 boe/d, which is a 6% increase or 122 boe/d compared to Q3 2024, primarily due to increased Basal Quartz production [7]. - Operating expenses for Q3 2025 were $30.39 per boe, reflecting a 13% increase from Q3 2024 [7]. - The operating netback for Q3 2025 was $1.9 million, or $9.18 per boe, representing a 27% decrease compared to Q3 2024 [7]. Subsequent Events - On October 31, 2025, the company completed a preferred share financing, raising $26.5 million in gross proceeds and amended its debt agreements to extend maturities by 24 months and defer cash interest obligations through 2026 [3]. - The company spud a three-leg open-hole Ellerslie horizontal well on November 13, 2025, and began construction of a water disposal facility to reduce operating costs and maximize production [4].

Core Insights - NuVista Energy Ltd. reported strong financial and operational results for Q3 and year-to-date 2025, with record production levels and significant cost savings achieved through disciplined execution of its development plan [1][4][6]. Operational Highlights - Daily production for Q3 2025 was 67,680 Boe/d, slightly below guidance of 68,000 – 70,000 Boe/d, but production has ramped up to over 100,000 Boe/d following the commissioning of the Pipestone Gas Plant [3][5]. - The production composition included 31% condensate, 9% natural gas liquids (NGLs), and 60% natural gas, exceeding guidance [3][21]. - The company invested $141.1 million in net capital expenditures during Q3, supporting the drilling of 8 wells and completion of 15 wells, with a total of 29 wells drilled and 43 completed year-to-date [3][4]. Financial Performance - Adjusted funds flow for Q3 was $143.5 million ($0.73/share), a 3% increase from Q3 2024, and $469.7 million ($2.35/share) year-to-date, reflecting a 13% increase [3][14]. - Net earnings for Q3 were $36.5 million ($0.19/share), a 39% decrease from Q3 2024, while year-to-date net earnings reached $229.2 million ($1.15/share), an 11% increase [3][14]. - Operating netback was $27.51/Boe, a 38% increase compared to Q3 2024, and corporate netback was $23.07/Boe, a 27% increase [3][14]. Shareholder Returns - The company has returned over $100 million to shareholders through share buybacks, with an additional $51 million spent in Q3 2025 [6][8]. - Since the inception of the Normal Course Issuer Bid (NCIB) program in 2022, NuVista has repurchased over $580 million in shares, reducing total shares outstanding by approximately 20% [6][8]. Transaction Announcement - NuVista entered into an arrangement agreement with Ovintiv Inc. for the acquisition of all outstanding common shares, valuing NuVista at approximately $3.8 billion, including net debt [8][9]. - The transaction has been unanimously approved by the Board of Directors and is expected to close in Q1 2026, pending regulatory approvals [9][10]. Future Guidance - The company maintains its fourth quarter production guidance of approximately 100,000 Boe/d and an average production guidance of approximately 83,000 Boe/d for 2025 [5][25].

Core Viewpoint - Suncor Energy has announced a quarterly dividend increase of approximately 5%, reflecting strong operational performance and a commitment to shareholder value [1][2]. Group 1: Dividend Announcement - The Board of Directors approved a quarterly dividend of $0.60 per common share, marking a 5% increase from the previous dividend [1]. - The dividend will be payable on December 24, 2025, to shareholders of record as of December 3, 2025 [2]. Group 2: Operational Performance - The company has achieved record performance across its assets due to continued operational improvements, resulting in strong free funds flow per share and significant share repurchases [2]. - The decision to raise the dividend is supported by the Board's confidence in the company's improved operational performance and solid financial foundation [2]. Group 3: Company Overview - Suncor Energy is Canada's leading integrated energy company, involved in oil sands development, offshore oil production, and petroleum refining in Canada and the U.S. [3]. - The company is also focused on advancing the transition to a lower-emissions future through investments in lower emissions intensity power and renewable feedstock fuels [3]. - Suncor's common shares are listed on both the Toronto and New York stock exchanges [3].

Core Viewpoint - Sable Offshore Corp. is currently involved in litigation with the California Coastal Commission, with a tentative ruling indicating the denial of Sable's claims against the Commission, which the company intends to appeal [1][2][3]. Legal Proceedings - The Santa Barbara Superior Court's tentative ruling, released on October 14, 2025, suggests that Sable's claims will be denied, but this ruling will not affect the resumption of petroleum transportation through the Las Flores Pipeline System [1]. - Sable is pursuing damages exceeding approximately $347 million due to cease and desist orders issued during its anomaly repair program on the Las Flores Pipeline System [2]. Business Strategy - Despite the disappointing ruling, Sable's business strategy remains focused on resuming petroleum transportation through the Las Flores Pipeline System and selling production from the Santa Ynez Unit via an Offshore Storage & Treating Vessel (OS&T) [3]. - Sable emphasizes the importance of resuming operations to mitigate the economic impact on California's energy sector and to lower gasoline prices for residents [3]. Production and Operations - The anomaly repair program and hydrotesting of the Las Flores Pipeline System were completed in May 2025, in compliance with the Federal Consent Decree [2]. - Sable plans to continue pursuing the OS&T strategy, which was previously used from 1981 to 1994, to process production from the Santa Ynez Unit, which produced over 160 million barrels of oil equivalent during that period [3]. Company Overview - Sable Offshore Corp. is an independent oil and gas company based in Houston, Texas, focused on the responsible development of the Santa Ynez Unit in federal waters offshore California [4].

Core Viewpoint - Valeura Energy Inc. reported strong operational performance in Q3 2025, highlighted by a successful ten-well drilling campaign at the Nong Yao field, leading to increased oil production and a solid financial position [4][6][9]. Production Update - Average working interest share oil production before royalties increased to 23.0 mbbls/d in Q3 2025, a 6.2% rise from Q2 2025, with rates reaching approximately 24.8 mbbls/d by the end of the quarter [8][9]. - Oil sales totaled 2.16 million bbls in Q3 2025, reflecting an 8.7% increase from Q2 2025, with an average realized price of US$72.06/bbl, a US$2.52/bbl premium over Brent [9][10]. Financial Position - The company reported a cash position of US$248.3 million with no debt, facilitating ongoing investments for growth [6][10]. - A net crude receivable of US$36.7 million is expected to be received in mid-October, reflecting the timing of payment [10]. Drilling Campaign - The ten-well drilling campaign at the Nong Yao field resulted in production increasing from approximately 7,996 bbls/d to 11,562 bbls/d over the seven-day period ending September 30, 2025 [11]. - The campaign was completed safely, on time, and on budget, with the drilling rig now mobilized to the Jasmine field for further development [22][23]. Future Projects - Progress is being made on the Wassana redevelopment project, targeting first oil in Q2 2027, aimed at increasing production and reducing unit costs [7][24]. - A strategic farm-in agreement in the Gulf of Thailand is anticipated to expedite development and gas production, formalizing a significant relationship with stakeholders [7][25].

Core Insights - Reconnaissance Energy Africa Ltd. is progressing with the drilling of the Kavango West 1X exploration well, with operations currently on schedule and the final casing string set at approximately 2,300 meters, just above the targeted Otavi reservoir [2] Company Operations - The Kavango West 1X well is targeting a significant structural closure in the Otavi section, measuring nearly 20 kilometers long by 3 kilometers wide [2] - Drilling operations advanced ahead of schedule in the shallower section, leading to a temporary deferral while waiting for casing strings for the final section [2] - The company anticipates reaching total depth (TD) of approximately 3,800 meters in the second half of November, with an expected penetration of around 1,500 meters of potential reservoir [2] - An extensive logging program will commence once TD is reached, with results expected to be disclosed around year-end [2] Communication Policy - Communications regarding the Kavango West 1X drilling will be under "tight hole" status until reaching TD, meaning no well results will be provided prior to the final logging of the Otavi reservoir section [3] - Updates during this period will only include the updated drilling depth, and adherence to tight hole status should not be interpreted as negative or positive [3] Company Background - ReconAfrica is a Canadian oil and gas company focused on exploring the Damara Fold Belt and Kavango Rift Basin, holding petroleum licenses over approximately 13 million contiguous acres [4] - The company also operates the Ngulu block in shallow waters offshore Gabon and is committed to minimal habitat disturbance in line with international standards [4]

Core Viewpoint - Sable Offshore Corp. is seeking over $347 million in damages due to delays and damages related to the restart of the Las Flores Pipeline System, following a cease and desist order from the California Coastal Commission [2][3]. Group 1: Legal Actions and Claims - The company is filing a motion to amend its lawsuit to quantify monetary damages in its inverse condemnation claim against the California Coastal Commission [1]. - Sable has also filed a declaratory judgment action against the State of California to confirm that certain provisions of SB 237 do not apply to the Las Flores Pipeline System [2]. Group 2: Operational Updates - Sable is working with the State of California to safely resume petroleum transportation through the Las Flores Pipeline System in accordance with its Federal Consent Decree [3]. - The company has restarted production from the Santa Ynez Unit assets in May 2025, but has not sold commercial quantities of hydrocarbons since June 2015 [7]. Group 3: Historical Context and Future Plans - The Santa Ynez Unit produced over 160 million barrels of oil equivalent from 1981 to 1994 using an accelerated Offshore Storage and Treating Vessel strategy [3]. - Continued delays in the restart plans may lead Sable to pursue the Offshore Storage and Treating Vessel strategy again [3]. Group 4: Company Overview - Sable Offshore Corp. is an independent oil and gas company based in Houston, Texas, focused on developing the Santa Ynez Unit in federal waters offshore California [4].

Core Insights - Valeura Energy Inc. has been ranked No. 1 in the 2025 Report on Business magazine's ranking of Canada's Top Growing Companies, reflecting significant revenue growth and operational success [1][2]. Company Performance - The company achieved a remarkable revenue increase from US$3 million in 2021 to US$689 million in 2024, marking a 20,064% growth over three years [2][4]. - This ranking follows Valeura's previous No. 8 position in 2024, indicating sustained momentum in value creation and operational execution [2]. Leadership Commentary - Dr. Sean Guest, President and CEO, expressed honor in receiving this recognition, emphasizing the disciplined approach to value creation through growth [3][4]. - The company has demonstrated top-tier operational and financial performance since launching its growth strategy in 2020, while being selective in pursuing opportunities [4]. Company Overview - Valeura Energy Inc. is a Canadian public company focused on the exploration, development, and production of petroleum and natural gas in Thailand and Türkiye [6]. - The company aims for value-accretive growth while adhering to high standards of environmental, social, and governance responsibility [6].