Oil & Gas and Mining News

CALGARY — Oil producer Veren Inc. saw its share price plunge by more than 14 per cent on Thursday, on news that the company is lowering its production forecast for 2024 and grappling with "under-performance" from some of its wells.

CALGARY — Cenovus Energy Inc.'s West White Rose project off the coast of Newfoundland has reached a major milestone with the completed refurbishment of the massive vessel that will operate in the expanded offshore oilfield.

CALGARY — Canadian Natural Resources Ltd. said Thursday it has further reduced its natural gas drilling activity due to persistent low prices in Western Canada.

TORONTO — The Canadian dollar is trading against the U.S. dollar at levels not seen since 2020 as the combined pressures of economic outlooks, elections, and energy prices weigh. Here's what you need to know.

CALGARY — Precision Drilling Corp.

EDMONTON — Premier Danielle Smith says Alberta has applied for a judicial review of Ottawa's exemption of the carbon levy on home heating oil.

CALGARY — Precision Drilling Corp. says it earned $39 million in the third quarter of 2024, nearly double what it earned in the same time period last year. Canada's largest oil-and-gas drilling rig company says the profit works out to $2.

EDMONTON, ALBERTA, CANADA — Alberta Premier Danielle Smith says a potential budget deficit next year is not off the table as oil prices sit below what was projected.

Global oil prices are falling sharply after a retaliatory strike by Israel over the weekend targeted Iranian military sites rather than its energy infrastructure as had been feared.

TORONTO — Ontario is moving to extend a 5.7-cent cut to the provincial gas tax until next summer. Premier Doug Ford says his government will soon put forward legislation that, if passed, will keep the tax at nine cents per litre until June 30.