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Baytex Announces Granting of Exemptive Relief Regarding Its Normal Course Issuer Bid Program
Baytex Announces Granting of Exemptive Relief Regarding Its Normal Course Issuer Bid Program Calgary, Alberta--(Newsfile Corp. - July 14, 2025) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) ("Baytex") today announced it obtained an exemption order from the Canadian securities regulators which permits Baytex to purchase up to 10 percent of the "public float" (within the meaning of the rules of the Toronto Stock Exchange (the "TSX")) of its common shares through the New York Stock Exchange and other U.S.-based trading systems as part of Baytex's shareholder return strategy, including the current normal course issuer bid announced on June 24, 2025 (the "Current Bid"). Absent this exemptive relief, Baytex's purchases under a normal course issuer bid on markets other than the TSX would be limited to not more than 5 percent of its outstanding common shares over any twelve-month period.The exemptive relief is applicable to the Current Bid and any other normal course issuer bid commenced by Baytex and which expire on or before July 11, 2028 and is conditional upon, among other things, purchases being made in compliance with applicable U.S. rules and National Instrument 23-101 - Trading Rules and at a price not higher than the market price at the time of purchase. The aggregate number of common shares purchased by Baytex over any exchange or market over the relevant 12-month period of a particular normal course issuer bid may not exceed 10 percent of the public float, as specified in Baytex's notice accepted by the TSX in respect of the relevant normal course issuer bid, including the Current Bid. Baytex Energy CorpBaytex Energy Corp. is an energy company based in Calgary, Alberta and offices in Houston, Texas. The company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Baytex's common shares trade on the Toronto Stock Exchange and the New York Stock Exchange under the symbol BTE.For further information about Baytex, please visit our website at www.baytexenergy.com or contact:Brian Ector, Senior Vice President, Capital Markets and Investor RelationsToll Free Number: 1-800-524-5521Email: investor@baytexenergy.comTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/258687
Par Pacific Announces Second Quarter 2025 Earnings Release and Conference Call Schedule
Par Pacific Announces Second Quarter 2025 Earnings Release and Conference Call Schedule HOUSTON, July 14, 2025 (GLOBE NEWSWIRE) -- Par Pacific Holdings, Inc. (NYSE: PARR) ("Par Pacific") today announced that it will release its second quarter 2025 results after the New York Stock Exchange closes on Tuesday, August 5, 2025. This release will be followed by a conference call for investors on Wednesday, August 6, 2025, at 9:00 a.m. Central Time (10:00 a.m. Eastern). The full text of the release will be available on Par Pacific's website at http://www.parpacific.com. Par Pacific Second Quarter 2025 Earnings Conference CallWednesday, August 6, 20259:00 a.m. Central time (10:00 a.m. Eastern)Dial-in number: 1-833-974-2377 (toll-free) or 1-412-317-5782 (toll) Individuals who would like to participate should dial the applicable dial-in number at least 10 minutes before the scheduled conference call time. To access the live audio webcast and related presentation materials, please visit the Investors section of Par Pacific's website at http://www.parpacific.com. A replay will be available shortly after the call and can be accessed by dialing 1-877-344-7529 (toll-free) or 1-412-317-0088 (toll). The passcode for the replay is 7519957. The replay will be available until August 20, 2025. About Par Pacific Par Pacific Holdings, Inc. (NYSE: PARR), headquartered in Houston, Texas, is a growing energy company providing both renewable and conventional fuels to the western United States. Par Pacific owns and operates 219,000 bpd of combined refining capacity across four locations in Hawaii, the Pacific Northwest and the Rockies, and an extensive energy infrastructure network, including 13 million barrels of storage, and marine, rail, rack, and pipeline assets. In addition, Par Pacific operates the Hele retail brand in Hawaii and the "nomnom" convenience store chain in the Pacific Northwest. Par Pacific also owns 46% of Laramie Energy, LLC, a natural gas production company with operations and assets concentrated in Western Colorado. More information is available at www.parpacific.com. Investor Contact:Ashimi PatelVP, Investor Relations & Sustainability(832) 916-3355apatel@parpacific.com
Halliburton Announces New Chief Accounting Officer
Halliburton Announces New Chief Accounting Officer HOUSTON, Jul. 14 /BusinessWire/ -- Halliburton Company (NYSE:HAL) today announced a change to the company's senior executive leadership as part of its succession management process. Effective July 16, 2025, Stephanie Holzhauser will assume the role of senior vice president and chief accounting officer. She replaces Charles Geer Jr. who is departing for an executive role at another company. "Stephanie plays a critical role in the finance and accounting organization and in the company's success," said Eric Carre, executive vice president and chief financial officer of Halliburton. "I am excited to see her take on this new opportunity and bring her strategic thinking, strong execution, and dynamic leadership to the role. Her appointment reflects both her outstanding contributions and our confidence in her ability to lead our accounting organization into the future." Holzhauser began her career at Halliburton as an intern before joining the company as an associate accountant in 2004. Throughout her tenure, she held various roles of increasing responsibility in external reporting, technical accounting along with both the Completion and Production and Drilling and Evaluation divisions and most recently was the vice president of operations finance encompassing the hemispheres, divisions and financial planning and analysis teams. She holds a bachelor's degree and master's degree in accounting from Louisiana State University. About Halliburton Halliburton is one of the world's leading providers of products and services to the energy industry. Founded in 1919, we create innovative technologies, products, and services that help our customers maximize their value throughout the life cycle of an asset and advance a sustainable energy future. Visit us at www.halliburton.com; connect with us on LinkedIn, YouTube, Instagram, and Facebook. View source version on businesswire.com: https://www.businesswire.com/news/home/20250713256389/en/ back
Oceaneering Awarded Contract by Esso Exploration Angola (Block 15) Limited for ROV Services and Integrated Solutions
Oceaneering Awarded Contract by Esso Exploration Angola (Block 15) Limited for ROV Services and Integrated Solutions HOUSTON, Jul. 14 /BusinessWire/ -- Oceaneering International, Inc. (NYSE:OII) announced that its subsidiaries, Oceaneering Angola, S.A. and Oceaneering Marine Technologies Ltd. (collectively, "Oceaneering"), have been awarded a contract by Esso Exploration Angola (Block 15) Limited ("Esso"), an affiliate of ExxonMobil, for services in support of Esso's offshore operations in Angola Block 15. The contract, which commenced on July 1, 2025, is expected to generate $80 million to $90 million in revenue over its three-year term. This contract was re-awarded following a competitive bidding process. The scope of work includes the provision of multiple work-class ROVs, ROV tooling, intervention workover control systems (IWOCS), satellite communication systems, and subsea inspection, hydrate remediation, and engineering services. These services will be deployed from Esso-supplied facilities, intervention vessels, and drilling rigs. Subsea Robotics Senior Vice President Martin McDonald stated, "Securing this contract renewal with Esso, a key customer, through a competitive process reinforces our position as a trusted partner in Angola's offshore energy sector. This award not only reflects our capabilities in country for subsea robotics and intervention services but also supports our continued growth in a strategically important region." Statements in this press release that express a belief, expectation, or intention, as well as those that are not historical fact, are forward-looking. The forward-looking statements in this press release include statements concerning Oceaneering's work scope, contract value, and contract duration. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on current information and expectations of Oceaneering that involve a number of risks, uncertainties, and assumptions, including risks and uncertainties related to counterparty performance under contracts and market conditions and other economic factors affecting Oceaneering's business. Should one or more of these risks or uncertainties materialize, or should the assumptions underlying the forward-looking statements prove incorrect, actual outcomes could vary materially from those indicated. These and other risks are more fully described in Oceaneering's latest annual report on Form 10-K and its other periodic filings with the Securities and Exchange Commission. Oceaneering is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, and manufacturing industries. For more information on Oceaneering, please visit www.oceaneering.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20250714155940/en/ back
Emerita Continues to Expand the El Cura Deposit, Intersecting Mineralization in 80% of Drill Holes, Including 6.9 Meters Grading 1.2 g/t Gold, 0.4% Copper
Emerita Continues to Expand the El Cura Deposit, Intersecting Mineralization in 80% of Drill Holes, Including 6.9 Meters Grading 1.2 g/t Gold, 0.4% Copper TORONTO, July 14, 2025 (GLOBE NEWSWIRE) -- Emerita Resources Corp. (TSX-V: EMO; OTCQB: EMOTF; FSE: LLJA) (the "Company" or "Emerita") continues to intersect copper-gold mineralization with associated zinc-lead-silver at its ongoing drilling campaign at its El Cura deposit. El Cura is part of Emerita's wholly owned Iberian Belt West project ("IBW" or the "Project"; Figure 1) which includes three identified Volcanogenic Massive Sulfide (VMS) deposits: La Romanera, El Cura and La Infanta. Results contained in this news release are from El Cura deposit. Recent results from the ongoing drilling campaign at El Cura include: Drillhole EC051 encountered 6.9m grading 0.4% copper, 0.5% lead, 0.2% zinc, 1.23 g/t gold and 28.06 g/t silver, including a 3.9m interval grading 0.5% copper, 0.8% lead, 0.3% zinc, 1.75 g/t gold and 41.35 g/t silver;Drillhole EC053 encountered 3.1m grading 0.9% copper, 1.3% lead, 1.1% zinc, 1.33 g/t gold and 53.46 g/t silver;Drillhole EC056 encountered a 3.0m grading 0.6% copper, 1.7% lead, 3.0% zinc, 1.79 g/t gold and 69.19 g/t silver. Figure 1. IBW property and locations of La Romanera, El Cura and La Infanta deposits. View Figure 1 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/6f4c63bc-6914-4f8a-b325-ef83957a702b Table 1 summarizes the results which demonstrate copper-gold rich mineralization continues to occur within wider intervals of polymetallic base metal mineralization at El Cura: Table 1: Recent drilling results received for the El Cura deposit. Discussion Of the reported holes, EC051, -053, and -056 are deeper holes, that tested the central area of the deposit at depth, below previous drilling. These drillholes intersected mineralization at depths0f 383m below surface (EC051); 363m below surface (EC053); and 366m below surface (EC056). EC052 encountered a fault zone at the expected target zone, leading to poor core recovery in that section of the drill hole. The current drilling program is designed to expand the El Cura resource, concentrating on deeper areas and targeting down plunge to the west, following the interpreted extension of the deposit. There are currently 3 drill rigs testing El Cura. Cross sections are included in Figure 4, and photos of selected examples of copper-gold rich mineralization are shown in Figure 5. A fourth drill is being reassigned to test targets closer to La Infanta deposit to the east, including some condemnation drilling of targets in areas where infrastructure for project development could be constructed. Figure 2. Plan view map showing drill hole traces of El Cura drilling. Hole traces in this release are colored red. View Figure 2 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/e05ba166-7305-4c26-a26e-1725e1ba189a Figure 3. Vertical longitudinal section of El Cura deposit, oriented east-west, looking north. Holes EC051, EC052, EC053, EC055 and EC056. The deposit outline is indicated in green. View Figure 3 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/835332c2-0259-4b3c-9c1f-5c1423d34193 Figure 4. Geological cross sections. A: Section 649700E showing hole EC053. B: Section 649750E showing hole EC056. View Figure 4 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/40ae0ea3-0651-48e2-be77-8bcd9ab92de8 Figure 4 continued. Geological cross sections. C: Section 649750E showing hole EC056. D: Section 649850E showing hole EC051. View Figure 4 continued here: https://www.globenewswire.com/NewsRoom/AttachmentNg/ab23832c-1b62-467c-86a9-f5dcf2623c54 Figure 5. Photos of El Cura drillcore as described in this release: A: EC051; Fine grained massive sulphide.Visible chalcopyrite along fracture planes and irregular veinlet. View Figure 5 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/93f40491-5774-4ef7-a117-cce13d0f1de3 Figure 5 continued. Photos of El Cura drillcore described in this release: B: EC053; Massive sulphide lens with galena and sphalerite, crosscut by a late quartz-carbonate vein.; C: EC056; Polymetallic massive sulfide with galena and sphalerite mm to cm vein-sets within a massive pyrite matrix. View Figure 5 continued here: https://www.globenewswire.com/NewsRoom/AttachmentNg/93691095-f406-4468-9f42-d1faf34911d8 Joaquin Merino, P.Geo., President of Emerita, states, "Our drill program, is focused on expanding El Cura deposit. The program is validating our geological model for the mineralization in the deposit. Every successful hole is potentially extending the resource or improving the quality of this deposit, which enhances the greater IBW Project's overall mineral resources. We are currently mobilizing a drill rig that is designed to drill at lower angles to delineate the upper portions of the deposit where it remains open for potential expansion." Quality Assurance/Quality Control Drilling at El Cura is HQ size and core is placed into core trays at the drill site and transported directly from the site to Emerita's coreshack (15Km) from El Cura. Once the cores are received at Emerita's coreshack they are photographed, and geotechnical logging is performed. Geological, mineralogical and structural logging follows, and mineralized zones are identified. The samples are marked every 1m or less, and respecting lithological contacts, with most of the samples 1.0m long. The zone immediately above and below the mineralized zones are also sampled. Core samples are sawed in half and half of the core is returned to the core tray for future reference. Once the core samples are cut, bagged and tagged, they are shipped to the ALS laboratory in Seville by Emerita personnel where sample preparation is done. In Seville, ALS performs the mechanical preparation of the samples and then the pulps are sent to ALS Ireland (ICP) and ALS Romania (fire assay). The analysis at ALS Lab corresponds to the ME-ICPore (19 elements) package, together with the Au-AA23 fire assay (Gold). 10% of the analyzed samples correspond to control samples (fine blanks, coarse blanks, high, medium and low-grade standards). In addition, 10% of pulps are reanalyzed at a second independent certified laboratory (AGQ Lab Sevilla). When the analysis is completed, the certificates are received from the laboratory and the QA/QC protocol identifies any deviation or anomaly in the results and the entire batch is re-assayed in such cases. Once the data is approved by the QA/QC protocol assays are entered directly into the database. Qualified Person Scientific and technical information in this news release has been reviewed and approved by Mr. Joaquin Merino, P.Geo., President of the Company and a Qualified Person as defined by NI 43-101. About Emerita Resources Corp. Emerita is a natural resource company engaged in the acquisition, exploration, and development of mineral properties in Europe, with a primary focus on exploring in Spain. The Company's corporate office and technical team are based in Sevilla, Spain with an administrative office in Toronto, Canada. For further information, contact:Ian Parkinson+1 647 910-2500 (Toronto)info@emeritaresources.com www.emeritaresources.com Cautionary Note Regarding Forward-looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the prospectivity of the IBW project and El Cura, the mineralization and the IBW project, the economic viability of the IBW project, the metallurgy of the IBW project, the Company's exploration program, the Company's future exploration plans and the Company's future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward- looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Emerita, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in the mining industry. Although Emerita has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Emerita does not undertake to update any forward-looking information, except in accordance with applicable securities laws. NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
DNOW Announces Second Quarter 2025 Earnings Conference Call
DNOW Announces Second Quarter 2025 Earnings Conference Call HOUSTON, Jul. 14 /BusinessWire/ -- DNOW Inc. (NYSE:DNOW) has scheduled a conference call to discuss the results for the second quarter of 2025 on Wednesday, August 6, 2025 at 8:00 am (US Central Time). Financial results for the second quarter ending June 30, 2025 are expected to be released that morning before the market opens. The call will be broadcast through the Investor Relations link on DNOW's web site at ir.dnow.com on a listen-only basis. Listeners should log in prior to the start of the call to register for the webcast. A replay of the call will be available online for thirty days following the conference. Participants may also join the conference call by dialing 1-888-660-6431 within North America or 1-929-203-2118 outside of North America, Access Code: 7372055, fifteen minutes prior to the scheduled start time and asking for the "DNOW Earnings Conference Call." DNOW is a supplier of energy and industrial products and packaged, engineered process and production equipment with a legacy of over 160 years. Headquartered in Houston, Texas, with approximately 2,575 employees and a network of locations, we offer a broad set of supply chain solutions combined with a suite of digital offerings branded as DigitalNOW® that provide customers access to highly complementary digital commerce, data and information management channels. Our locations provide products and solutions to exploration and production, midstream transmission and storage companies, refineries, chemical companies, utilities, mining, municipal water, manufacturers, engineering and construction as well as companies operating in the decarbonization, energy evolution and renewables end markets. View source version on businesswire.com: https://www.businesswire.com/news/home/20250714662031/en/ back
Expro Secures Contract With Woodside Energy for Trion Deepwater Project
Expro Secures Contract With Woodside Energy for Trion Deepwater Project Expro to deliver advanced tubular running and cementing services for Woodside's first ultra-deepwater development offshore Mexico. HOUSTON, Jul. 14 /BusinessWire/ -- Expro (NYSE:XPRO) has been awarded a major three-year contract by Woodside Petróleo Operaciones de México, S. de R.L. de C.V. (Woodside Energy) in support of the Trion deepwater oil and gas development offshore Mexico. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250714259100/en/Expro's Well Construction Under the agreement, Expro will provide industry-leading tubular running services (TRS) and cementing services for what will be Mexico's first deepwater oil production facility - a major milestone in the region's energy evolution. Woodside and Expro have a long-standing partnership, with Expro supporting well construction activities in Mexico during the exploration phase. This latest collaboration further strengthens their well-established presence in deepwater operations across the country. As part of the project, Woodside Energy will manage operations from its Tampico shore base and office, while Expro is actively establishing a new hub in the area, supporting local employment and contributing to the economic growth of the area. The contract enables Expro to deploy its differentiated well construction technologies, designed to offer a seamless solution from top drive to target depth. Services will include TRS casing, completion and drilling support, as well as the provision of casing accessories, cement heads, and Expro's Skyhook® system. In addition to technical execution, Expro's approach is aimed at optimizing well performance, driving cost-efficiencies, and enhancing operational reliability throughout the project lifecycle. Jeremy Angelle, Vice President of Well Construction said, "With our extensive track record and a reputation as a trusted provider of TRS solutions, we are proud to play a key role in this world-class development. This contract win reflects not only the strength of our technical capabilities and commercial offering but also our legacy of supporting Trion exploration wells through Frank's TRS and VERSAFLOTM systems. This project represents an exciting opportunity to showcase our innovative technologies on a historic deepwater development, and we look forward to building a strong, long-term partnership with Woodside in Mexico." Trion is a greenfield development located in the Perdido Fold Belt, approximately 180 km off Mexico's coastline in the Gulf of Mexico, in water depths of around 2,500 meters. Representing the first deepwater oil production in Mexico, the project is a joint venture between Woodside Energy and Petróleos Mexicanos (PEMEX), with first oil targeted for 2028. Notes to editors Working for clients across the well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and what the company considers to be best-in-class safety and service quality. The company's extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well intervention and integrity solutions. With roots dating to 1938, Expro has more than 8,500 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in more than 50 countries. For more information, please visit and connect with Expro on Twitter @ExproGroup and LinkedIn @Expro. SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This press release, and oral statements made from time to time by representatives of the Company, may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, the success and safety of the Company's tubular running and cementing services technologies, the Company's environmental, social and governance goals, targets and initiatives, and future growth, and are indicated by words or phrases such as "anticipate," "outlook," "estimate," "expect," "project," "believe," "envision," "goal," "target," "can," "will," and similar words or phrases. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company's expectations and judgments and are subject to certain risks and uncertainties, many of which are unforeseeable and beyond our control. The factors that could cause actual results, performance or achievements to materially differ include, among others the risk factors identified in the Company's Annual Report on Form 10-K, Form 10-Q and Form 8-K reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, historical practice, or otherwise. View source version on businesswire.com: https://www.businesswire.com/news/home/20250714259100/en/ back
Marathon Petroleum Helps Honor Heroism at National Medal of Honor Museum
Marathon Petroleum Helps Honor Heroism at National Medal of Honor Museum NORTHAMPTON, MA / ACCESS Newswire / July 11, 2025 / Key PointsThrough its sponsorship, Marathon Petroleum supports the National Medal of Honor Museum's mission to inspire visitors with stories of courage, sacrifice and integrity.The museum opened in Arlington, Texas, and honors the bravery and sacrifice of America's most distinguished military heroes.Marathon Petroleum employees attended a special preview event and described the experience as deeply personal and profoundly moving.The National Medal of Honor Museum (NMOHM) officially opened its doors to the public on March 25 in Arlington, Texas, offering a powerful tribute to the nation's most courageous military heroes.Because Marathon Petroleum Corporation (MPC) is a supporting sponsor of the NMOHM, several MPC employees were invited to a special Corporate Partner Day, where they had the opportunity to explore the museum and reflect on the extraordinary stories it preserves. For many attendees, the experience was deeply moving. Veteran Chris Staats, MPC Vice President of Refining in Martinez, California, said the visit was an incredible experience."I am proud of what I did serving my country and understand the hardships of military life," said Staats. "But the Medal of Honor awardees have experiences on a different level. Their actions display a level of character and courage that is truly amazing. The museum allowed me to share in their experience in a very personal and private way."Other veterans who were part of the MPC group were also especially grateful for the opportunity to see the museum, and appreciated the company's commitment to honoring our nation's heroes."MPC played a role in supporting the NMOHM through multiple donations, ultimately reaching the Leaders Circle level," said Tim Aydt, Executive Vice President Refining. "We felt like this would be another important way to show support for our veteran community both inside and external to MPC.""We are incredibly grateful for the support of partners like Marathon, whose commitment helps us honor the legacy of our nation's Medal of Honor Recipients and share their stories with people across the country," said Chris Cassidy, NMOHMF President and CEO.The NMOHM has welcomed thousands of visitors and continues to educate, engage and uplift through the powerful stories of America's heroes, helping their legacies endure for generations to come."Having a space dedicated to these extraordinary individuals brings the values of courage, sacrifice and integrity to life," said Cassidy. "The response has been remarkable. People leave feeling inspired to serve others and reminded of the best in each of us."View additional multimedia and more ESG storytelling from Marathon Petroleum on 3blmedia.com.Contact Info:Spokesperson: Marathon PetroleumWebsite: https://www.3blmedia.com/profiles/marathon-petroleum-corporationEmail: info@3blmedia.comSOURCE: Marathon PetroleumView the original press release on ACCESS Newswire
Transaction in Own Shares
Transaction in Own Shares Transaction in Own Shares 11 July, 2025 o o o o o o o o o o o o o o o o Shell plc (the `Company') announces that on 11 July, 2025 it purchased the following number of Shares for cancellation. Aggregated information on Shares purchased according to trading venue: These share purchases form part of the on- and off-market limbs of the Company's existing share buy-back programme previously announced on 2 May 2025. In respect of this programme, BNP PARIBAS SA will make trading decisions in relation to the securities independently of the Company for a period from 2 May 2025 up to and including 25 July 2025. The on-market limb will be effected within certain pre-set parameters and in accordance with the Company's general authority to repurchase shares on-market. The off-market limb will be effected in accordance with the Company's general authority to repurchase shares off-market pursuant to the off-market buyback contract approved by its shareholders and the pre-set parameters set out therein. The programme will be conducted in accordance with Chapter 9 of the UK Listing Rules and Article 5 of the Market Abuse Regulation 596/2014/EU dealing with buy-back programmes ("EU MAR") and EU MAR as "onshored" into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by the Financial Services Act, 2021 and relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310), from time to time ("UK MAR") and the Commission Delegated Regulation (EU) 2016/1052 (the "EU MAR Delegated Regulation") and the EU MAR Delegated Regulation as "onshored" into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by the Financial Services Act, 2021 and relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310), from time to time. In accordance with EU MAR and UK MAR, a breakdown of the individual trades made by BNP PARIBAS SA on behalf of the Company as a part of the buy-back programme is detailed below. Enquiries Media: International +44 (0) 207 934 5550; U.S. and Canada: https://www.shell.us/about-us/news-and-insights/media/submit-an-inquiry.html LEI number of Shell plc: 21380068P1DRHMJ8KU70 Classification: Acquisition or disposal of the issuer's own shares Attachment RNS Report SHELL 2025 07 11
Houston American Energy Corp. Secures $100 Million Equity Line of Credit to Fuel Growth and Support Strategic Acquisitions
Houston American Energy Corp. Secures $100 Million Equity Line of Credit to Fuel Growth and Support Strategic Acquisitions HOUSTON, TX, July 11, 2025 (GLOBE NEWSWIRE) -- Houston American Energy Corp. (NYSE American: HUSA) ("HUSA" or the "Company") today announced it has secured a Common Stock Purchase Agreement with an institutional investor, establishing an equity line of credit of up to $100 million. The Company intends to use the proceeds to accelerate its growth strategy, including strategic acquisitions, scaling operations, and expanding its presence in the low-carbon fuels and chemicals sector. "This capital commitment is a significant milestone for Houston American Energy and a validation of our long-term vision," said Ed Gillespie, CEO of the Company. "It provides us with enhanced flexibility to execute our growth strategy and advance our project pipeline." Under the terms of the 24-month agreement, HUSA has the right to sell up to $100 million of its common stock to an institutional investor. The timing and amount of sales will be at the Company's discretion, subject to a $2 million cap per drawdown, trading and volume limitations and other conditions. Shares will be sold at a 4% discount to the volume weighted average price ("VWAP") of the Company's stock over a specified period. "This agreement provides us with the financial agility to expand our operations, pursue strategic growth opportunities, and scale our business to meet the evolving needs of the energy sector," added Gillespie. The Company will file a registration statement with the U.S. Securities and Exchange Commission ("SEC") to register the resale of shares. The agreement was structured as a committed equity facility under Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D. Additional details regarding the agreement will be available in a Form 8-K to be filed by the company with the SEC. About Houston American Energy Corp. Houston American Energy Corp. (NYSE American: HUSA) is an independent energy company with a growing and diversified portfolio across both conventional and renewable sectors. Historically focused on the exploration and production of oil and natural gas, the Company is actively expanding into high-growth segments of the energy industry. In July 2025, HUSA acquired Abundia Global Impact Group, a technology-driven platform specializing in the conversion of waste plastics into low-carbon fuels and chemical feedstocks. This strategic acquisition reflects HUSA's broader commitment to meeting global energy demands through a balanced mix of traditional and alternative energy solutions and positions the Company to capitalize on emerging opportunities in sustainable fuels and energy transition technologies. This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking information generally is accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking information is based on management's current expectations and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking information in this news release includes, but is not limited to, statements about the future growth of the Company in the low-carbon fuels and chemicals sector as well as plans for strategic acquisitions and scaling operations. Actual results may differ materially from those indicated by these forward-looking statements as a result of a variety of factors, including, but not limited to: (i) risks and uncertainties impacting the Company's business including, risks related to its current liquidity position and the need to obtain additional financing to support ongoing operations, the Company's ability to continue as a going concern, the Company's ability to maintain the listing of its common stock on NYSE American, the Company's ability to predict its rate of growth, the Company's ability to hire, retain and motivate employees, the effects of competition on the Company's business, including price competition, technological, regulatory and legal developments, developments in the economy and financial markets, risks related to whether the Company is able to sell any shares under the Common Stock Purchase Agreement, the timing of filing a registration statement with respect to the resale of such shares, and (iii) other risks as set forth from time to time in the Company's filings with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are beyond the control of the Company. With respect to the forward-looking information contained in this news release, the Company has made numerous assumptions. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. A complete discussion of the risks and uncertainties facing the Company's business is disclosed in our Annual Report on Form 10-K and other filings with the SEC on www.sec.gov. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law. For additional information, view the company's website at www.houstonamerican.com or contact Houston American Energy Corp. at (713) 222-6966.
Sitio Royalties Schedules Second Quarter 2025 Earnings Release
Sitio Royalties Schedules Second Quarter 2025 Earnings Release DENVER, Jul. 11 /BusinessWire/ -- Sitio Royalties Corp. (NYSE:STR) ("Sitio") today announced that it will report operating and financial results for the second quarter 2025 on Wednesday, August 6, 2025, after the close of trading on the New York Stock Exchange. Due to the pending merger with Viper Energy, Inc. (NASDAQ:VNOM), Sitio will not host a conference call. About Sitio Royalties Corp. Sitio is a shareholder returns-driven company focused on large-scale consolidation of high-quality oil & gas mineral and royalty interests across premium basins, with a diversified set of top-tier operators. With a clear objective of generating cash flow from operations that can be returned to shareholders and reinvested, Sitio has accumulated over 270,000 NRAs through the consummation of over 200 acquisitions to date. More information about Sitio is available at www.sitio.com. Forward Looking Statements This news release contains statements that may constitute "forward-looking statements" for purposes of federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "seeks," "possible," "potential," "predict," "project," "prospects," "guidance," "outlook," "should," "would," "will," and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties that could cause our actual results, performance, and financial condition to differ materially from our expectations and predictions. See "Risk Factors" in Sitio's publicly filed documents with the SEC for a discussion of risk factors that affect Sitio's business. Any forward-looking statement made in this news release speaks only as of the date on which it is made. Factors or events that could cause actual results to differ may emerge from time to time, and it is not possible to predict all of them. Sitio undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future development, or otherwise, except as may be required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20250711191101/en/ back
Phillips 66 Announces Quarterly Dividend
Phillips 66 Announces Quarterly Dividend HOUSTON, Jul. 10 /BusinessWire/ -- The board of directors of Phillips 66 (NYSE:PSX) has declared a quarterly dividend of $1.20 per share on Phillips 66 common stock. The dividend is payable on Sept. 2, 2025, to shareholders of record as of the close of business on Aug. 19, 2025. About Phillips 66 Phillips 66 (NYSE: PSX) is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company's portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn. View source version on businesswire.com: https://www.businesswire.com/news/home/20250710515877/en/ back
Vermilion Energy Inc. Announces Closing of the Saskatchewan Asset Sale
Vermilion Energy Inc. Announces Closing of the Saskatchewan Asset Sale CALGARY, AB, July 10, 2025 /PRNewswire/ - Vermilion Energy Inc. ("Vermilion") (TSX: VET) (NYSE: VET) is pleased to confirm the closing of the previously announced sale of Saskatchewan assets for gross proceeds of $415 million. The assets are comprised of approximately 10,500 boe/d (86% oil and liquids) of non-core light oil production in Saskatchewan and Manitoba. This transaction marks another significant step in Vermilion's strategic plan to high-grade the asset portfolio that began three years ago, shifting our focus toward long-duration, scalable assets with deep inventory of high return on capital opportunities. Net cash proceeds from the sale will strengthen Vermilion's balance sheet and provide further capital allocation flexibility for core Canadian and European assets. About Vermilion Vermilion is a global gas producer that seeks to create value through the acquisition, exploration and development of liquids-rich natural gas in Canada and conventional natural gas in Europe while optimizing low-decline oil assets. This diversified portfolio delivers outsized free cash flow through direct exposure to global commodity prices and enhanced capital allocation optionality. Vermilion's priorities are health and safety, the environment, and profitability, in that order. Nothing is more important than the safety of the public and those who work with Vermilion, and the protection of the natural surroundings. In addition, the Company emphasizes strategic community investment in each of its operating areas. Vermilion trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbol VET. For further information please contact:Dion Hatcher, President & CEO; Lars Glemser, Vice President & CFO; and/or Kyle Preston, Vice President, Investor RelationsTEL (403) 269-4884 | IR TOLL FREE 1-866-895-8101 | investor_relations@vermilionenergy.com | www.vermilionenergy.com View original content to download multimedia:https://www.prnewswire.com/news-releases/vermilion-energy-inc-announces-closing-of-the-saskatchewan-asset-sale-302502697.html SOURCE Vermilion Energy Inc.
Crescent Energy Schedules Second Quarter 2025 Earnings Release and Conference Call
Crescent Energy Schedules Second Quarter 2025 Earnings Release and Conference Call HOUSTON, Jul. 10 /BusinessWire/ -- Crescent Energy Company (NYSE:CRGY) today announced plans to host a conference call and webcast at 10 a.m. CT, on Tuesday, August 5, 2025, to discuss its second quarter 2025 financial and operating results. The Company plans to release results after market close on Monday, August 4, 2025. The release and supplemental slides will be available on the company's website at www.crescentenergyco.com. Conference Call Information Time: 10 a.m. CT (11 a.m. ET) Date: Tuesday, August 5, 2025 Conference Dial-In: 877-407-0989 / 201-389-0921 (Domestic / International) Webcast Link: www.crescentenergyco.com A webcast replay will be available on the website following the call. About Crescent Energy Crescent is a differentiated U.S. energy company committed to delivering value for shareholders through a disciplined growth through acquisition strategy and consistent return of capital. Our long-life, balanced portfolio combines stable cash flows from low-decline production with deep, high-quality development inventory. Our activities are focused in Texas and the Rocky Mountain region. For additional information, please visit www.crescentenergyco.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20250710936862/en/ back
Empire Petroleum Announces Commencement of Previously Announced Rights Offering
Empire Petroleum Announces Commencement of Previously Announced Rights Offering TULSA, Okla., Jul. 10 /BusinessWire/ -- Empire Petroleum Corporation (NYSE American:EP) ("Empire" or the "Company"), an oil and gas company with current producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana, announced today that it has commenced its previously announced subscription rights offering ("Rights Offering") pursuant to which it intends to raise gross proceeds of up to approximately $5.0 million, including up to $2.5 million from the exercise of warrants issued as part of the Rights Offering. The Company is distributing at no charge to holders of its common stock, par value $0.001 per share ("Common Stock"), as of the close of business on July 10, 2025 (the record date for the Rights Offering), one subscription right for each share of Common Stock held. Each subscription right entitles the holder to purchase one unit at a subscription price of $5.30 per unit, each unit consisting of 0.0139 shares of Common Stock and one warrant exercisable for 0.0136 shares of Common Stock at $5.46 per share. As a result, a stockholder must hold at least 72 shares of Common Stock to receive subscription rights to purchase at least one unit. The subscription rights and warrants are non-transferable, and will not be listed for trading on any stock exchange or market. In addition, holders of subscription rights who fully exercise their subscription rights are entitled to over-subscribe for additional units, subject to proration. The Rights Offering is expected to expire at 5:00 p.m., Eastern Time, on July 25, 2025 ("Expiration Date"), subject to extension or earlier termination. Phil E. Mulacek, Chairman of the Board of Empire and one of the Company's largest shareholders, has indicated that he intends to participate in the Rights Offering and fully subscribe to the units corresponding to his subscription rights. He has also indicated that he intends to fully exercise his over-subscription rights to purchase his pro rata share of the underlying securities related to the Rights Offering that remain unsubscribed at the Expiration Date. Holders of subscription rights who hold their shares directly will receive a prospectus, a prospectus supplement, a letter from Empire describing the Rights Offering, and a subscription rights certificate. Those holders who intend to exercise their subscription rights and over-subscription rights should review all of these materials, properly complete and execute the subscription rights certificates, and deliver the subscription rights certificates and full payment to Securities Transfer Corporation, the subscription agent for the Rights Offering, at the address set forth in the prospectus supplement. The Rights Offering is more fully described in the prospectus supplement filed with the Securities and Exchange Commission ("SEC") on July 10, 2025. A copy of the prospectus, prospectus supplement or further information with respect to the Rights Offering may be obtained by contacting Securities Transfer Corporation, the subscription and information agent for the Rights Offering, at (469) 633-0101. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer, solicitation or sale of securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. About Empire Petroleum Empire Petroleum Corporation is a publicly traded, Tulsa-based oil and gas company with current producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana. Management is focused on organic growth and targeted acquisitions of proved developed assets with synergies with its existing portfolio of wells. More information about Empire can be found at www.empirepetroleumcorp.com. Safe Harbor Statement This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitations, statements with respect to the Company's estimates, strategy and prospects. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's reports filed with the SEC, including its Form 10-K for the fiscal year ended December 31, 2024, and its other filings with the SEC. Readers and investors are cautioned that the Company's actual results may differ materially from those described in the forward-looking statements due to a number of factors, including, but not limited to, the Company's ability to acquire productive oil and/or gas properties or to successfully drill and complete oil and/or gas wells on such properties, general economic conditions both domestically and abroad, and other risks and uncertainties related to the conduct of business by the Company. Other than as required by applicable securities laws, the Company does not assume a duty to update these forward-looking statements, whether as a result of new information, subsequent events or circumstances, changes in expectations, or otherwise. View source version on businesswire.com: https://www.businesswire.com/news/home/20250710963321/en/ back
Chevron Supports Central and West Texas Flood Relief Efforts
Chevron Supports Central and West Texas Flood Relief Efforts HOUSTON, Jul. 10 /BusinessWire/ -- Chevron today announced a donation of $250,000 to three community partners, Community Foundation of the Texas Hill Country, Team Rubicon and the Fuel Relief Fund, to support flood relief efforts in Central and West Texas. Community Foundation of the Texas Hill Country will receive $100,000 to support local organizations providing rescue, relief and recovery services. Team Rubicon will receive $100,000 to assess damage, manage volunteers and prepare for large-scale debris removal in the impacted areas. Fuel Relief Fund will receive $50,000 to supply fuel for volunteer equipment and assist displaced residents and emergency responders. In addition to the donation, Chevron is introducing a 2:1 employee match contribution program, up to $250,000. This initiative allows Chevron to amplify its own employees' giving to broaden its impact. "Chevron has a long history of responding to the needs in communities where we operate. Our partnership with these outstanding organizations will help provide essential aid to those impacted by the catastrophic floods," said Laura Lane, Chevron Chief Corporate Affairs Officer. "We also extend our sincere appreciation and gratitude to the volunteers and first responders who have worked tirelessly on the front lines of the relief efforts. They are who make us all Texas strong, Texas proud." Chevron maintains a significant presence in Texas. With its corporate headquarters in Houston, the company also operates crude oil fields, a refinery, technical facilities and a network of pipeline assets throughout the state. About Chevron Chevron is one of the world's leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to enabling human progress. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We aim to grow our oil and gas business, lower the carbon intensity of our operations, grow new energies businesses and invest in emerging technologies. More information about Chevron is available at www.chevron.com. About Community Foundation of the Texas Hill Country The Community Foundation of the Texas Hill Country is dedicated to improving the quality of life in the Texas Hill Country by supporting charitable organizations and initiatives that address the region's most pressing needs. Visit The Community Foundation for more information. About Team Rubicon Team Rubicon (TR) is a veteran-led humanitarian organization that serves global communities before, during and after disasters and crises. Their vision is to support humanity and build resiliency for vulnerable communities across the world. Founded following the Haiti earthquake in 2010, the organization has grown to almost 180,000 volunteers across the United States and has launched over 1,100 operations both domestically and internationally. By pairing the skills and experiences of military veterans with first responders, medical professionals and technology solutions, TR aims to provide the greatest service and impact possible. Around the world, disasters are a part of life. No corner of the globe is spared from severe weather-be it crippling winter storms, catastrophic hurricanes, or unchecked wildfires. When disaster strikes, TR works alongside local governments and agencies to provide services to those who are most vulnerable. Visit www.teamrubiconusa.org for more information. About Fuel Relief Fund Fuel Relief Fund (FRF) is a volunteer-driven, 501(c)3 nonprofit organization based in the United States. In addition to our dedicated team at headquarters and Boards of Directors in the United States and the Netherlands, the FRF family consists of highly skilled and trained operational volunteers with fuel and emergency management backgrounds as well as fuel supply chain management experts with decades of experience. Visit About FRF | Fuel Relief Fund for more information. View source version on businesswire.com: https://www.businesswire.com/news/home/20250710141746/en/ back
Ovintiv to Host its Second Quarter 2025 Results Conference Call and Webcast on July 25, 2025
Ovintiv to Host its Second Quarter 2025 Results Conference Call and Webcast on July 25, 2025 DENVER, July 10, 2025 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced plans to hold its second quarter 2025 results conference call at 8:00 a.m. MT, on Friday July 25, 2025. The Company plans to release its financial and operating results after market close, Thursday July 24, 2025. In addition to the release, supplemental slides and financial statements will be available on the Company's website, located at www.ovintiv.com. To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/3Pu99jK to receive an instant automated call back. You can also dial direct to be entered to the call by an Operator. Please dial 888-510-2154 (toll-free in North America) or 437-900-0527 (international) approximately 15 minutes prior to the call. The live audio webcast of the event, including slides, also will be available on Ovintiv's website, under Investors/Presentations and Events, and will be archived for approximately 90 days. Further information on Ovintiv Inc. is available at www.ovintiv.com, or by contacting: Investor contact: (888) 525-0304investor.relations@ovintiv.com Media contact: (403) 645-2252 View original content to download multimedia:https://www.prnewswire.com/news-releases/ovintiv-to-host-its-second-quarter-2025-results-conference-call-and-webcast-on-july-25-2025-302502694.html SOURCE Ovintiv Inc.
NextNRG Reports Preliminary June 2025 Revenue Growth of 231% Year-Over-Year
NextNRG Reports Preliminary June 2025 Revenue Growth of 231% Year-Over-Year AI-Driven Energy Pioneer Delivers Sixth Consecutive Record Month Company on Clear Path to $100 Million Revenue Run-Rate with Canadian Acquisition MIAMI, July 10, 2025 (GLOBE NEWSWIRE) -- NextNRG, Inc. (Nasdaq: NXXT), a pioneer in AI-driven energy innovation transforming how energy is produced, managed, and delivered through its Next Utility Operating System®, smart microgrids, wireless EV charging, and mobile fuel delivery, today announced preliminary unaudited financial results for June 2025. June 2025 Highlights: Revenue: $6.98 million, up 231% year-over-year and 6% month-over-monthGallons delivered: Over 2.04 million gallons, up 270% year-over-year and 4% month-over-monthYear-to-date revenue through June reached approximately $35.87 million, representing a 33% increase over full-year 2024 revenue of approximately $27 million "We're thrilled to report our sixth consecutive record month, with June's 231% year-over-year revenue growth demonstrating the scalability of our AI-driven energy platform and strong market demand for our integrated solutions," said Michael D. Farkas, Executive Chairman and CEO of NextNRG. "With our pending acquisition of ReFuel Mobile in Canada and expanding domestic operations across six U.S. states with 144 active fuel delivery trucks, we are positioned to achieve $100 million in forward 12-month revenues. More importantly, our improving operational efficiency and recurring revenue contracts provide a direct pathway to profitability in 2026 a critical milestone that will transform NextNRG from a high-growth company into a sustainable, cash-generating enterprise. The combination of our proven mobile fueling platform, microgrid pipeline, and strategic international expansion creates multiple revenue streams that support both our near-term growth targets and long-term profitability objectives." NextNRG's robust growth continues to be driven by strong adoption from commercial fleets and strategic partnerships in its mobile fueling operations. The company is also preparing to deploy its Next Utility Operating System®, AI-powered microgrid systems, and wireless EV charging products in key markets to diversify its revenue streams. The pending acquisition of ReFuel Mobile, Canada's #36 fastest-growing company with 1,166% three-year revenue growth, is expected to close by August 1, 2025, and will immediately contribute to NextNRG's recurring revenue base while providing a strategic platform for international expansion. Note on Preliminary ResultsThe financial results for June 2025 are preliminary and unaudited. Final results may differ and will be confirmed upon the completion of standard month-end closing procedures. About NextNRG, Inc.NextNRG Inc. (NextNRG) is Powering What's Next by implementing artificial intelligence (AI) and machine learning (ML) into renewable energy, next-generation energy infrastructure, battery storage, wireless electric vehicle (EV) charging and on-demand mobile fuel delivery to create an integrated ecosystem. At the core of NextNRG's strategy is its Next Utility Operating System®, which leverages AI and ML to help make existing utilities' energy management as efficient as possible, and the deployment of NextNRG smart microgrids, which utilize AI-driven energy management alongside solar power and battery storage to enhance energy efficiency, reduce costs and improve grid resiliency. These microgrids are designed to serve commercial properties, healthcare campuses, universities, parking garages, rural and tribal lands, recreational facilities and government properties, expanding energy accessibility while supporting decarbonization initiatives. NextNRG continues to expand its growing fleet of fuel delivery trucks and national footprint, including the acquisition of Yoshi Mobility's fuel division and Shell Oil's trucks, further solidifying its position as a leader in the on-demand fueling industry. NextNRG is also integrating sustainable energy solutions into its mobile fueling operations. The company hopes to be an integral part of assisting its fleet customers in their transition to EV, providing fuel delivery while advancing efficient energy adoption. The transition process is expected to include the deployment of NextNRG's innovative wireless EV charging solutions. To find out more visit: www.nextnrg.com Forward-Looking StatementsThis press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement describing NextNRG's goals, expectations, financial or other projections, intentions, or beliefs is a forward-looking statement and should be considered an at-risk statement. Words such as "expect," "intends," "will," and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, including, but not limited to, those related to NextNRG's business and macroeconomic and geopolitical events. These and other risks are described in NextNRG's filings with the Securities and Exchange Commission from time to time. NextNRG's forward-looking statements involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although NextNRG's forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by NextNRG. Except as required by law, NextNRG undertakes no obligation to update any forward-looking statements for any reason. As a result, you are cautioned not to rely on these forward-looking statements. Investor Relations ContactNextNRG, Inc.Sharon CohenSCohen@nextnrg.com
Obsidian Energy Announces Second Half 2025 Capital Program and Guidance
Obsidian Energy Announces Second Half 2025 Capital Program and Guidance Development capital expenditures of $110 to $120 million resulting in 28 net operated wells drilledInfrastructure projects are underway in Open Creek and Nampa fields allowing for future growthIntend to initiate ~$10 million Canadian Exchange Offer to Acquire Obsidian Energy Common Shares for Common Shares of InPlay Oil Corp.Calgary, Alberta--(Newsfile Corp. - July 10, 2025) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to announce our second half 2025 capital plan and financial guidance that builds on the success of our first half 2025 program at Peace River and resumes drilling at Willesden Green. "With the disposition of our Pembina asset during the second quarter, coupled with the recent tariff and OPEC+ induced commodity price volatility, we have adapted our approach to 2025 accordingly," commented Stephen Loukas, Obsidian Energy's President and CEO. "Post-disposition, due to our enhanced liquidity position as well as the continued discount that our shares trade to intrinsic-value, we have opted to moderate our near-term production growth via the reduction in capital expenditures and have chosen to drive growth in per-share metrics via incremental share buybacks. Moreover, during the second half we are extending infrastructure to our Open Creek field which will, upon completion, allow us to aggressively grow our Cardium and Belly River production volumes as market conditions improve. Furthermore, we plan on building an all-season road to our Nampa field that will bring ~200 barrels per day of currently shut-in oil back on production and enable pursuit of a full field development plan."Mr. Loukas continued, "Our disciplined level of spending will initially keep average production roughly flat to our post Pembina disposition of ~27,700 boe/d while building to ~29,000 boe/d as we exit 2025, with the option to further grow production during the first quarter of 2026 should market conditions prove conducive. Our second half program in Peace River is centred on key development fields in Harmon Valley South ("HVS") and Dawson, following up on recent success in these areas. Initial drilling operations began in mid-June at HVS targeting the Bluesky. At Dawson we are furthering development in the heart of the field, where results in the Clearwater continue to exceed expectations. The second half of the year will also see us return to development at Willesden Green as we target the proven Cardium formation and continue to delineate the emerging Belly River play at both our Crimson and Open Creek fields. Lastly, regarding our ~33 percent share holding in InPlay Oil Corp. ("InPlay"), despite being subject to restrictions on the sale of our InPlay shares to third parties until October 7, 2025, we have had several third parties express interest in this position. We believe our significant InPlay position can ultimately be monetized at a premium to current trading levels, however, given that as part of our disposition transaction to InPlay we took back a slightly larger equity stake than we had originally contemplated due to market conditions, we intend to monetize ~10 percent of our InPlay share holdings, representing ~3.3 percent of InPlay's total current shares outstanding through an exchange offer to Obsidian Energy shareholders located in the provinces and territories of Canada for common shares of InPlay later this month. This exchange offer provides a mechanism for the Company to buy back shares while allowing us to marginally reduce our InPlay holdings and providing additional optionality as we work through the further monetization of our position."SECOND HALF 2025 GUIDANCE The Company plans between $110 and $120 million in capital expenditures plus an additional $13 to $15 million in decommissioning expenditures in the second half of 2025. Capital expenditures in the second half of 2025 are expected to be $62 million for Peace River and $52 million for Willesden Green. Included in our second half capital expenditures is approximately $8 million of waterflood capital and $10 million to pre-purchase production tanks at a price discount for our first quarter 2026 Peace River program. At our planned exit rate of ~29,000 boe/d, we estimate sustaining capital on a go forward basis will be approximately $180 million, excluding any incremental discretionary waterflood capital.Second half 2025 capital expenditures represent a material reduction of approximately 33 percent from both our first half 2025 program and our second half program in 2024. Production is expected to average 27,700 boe/d in the second half of 2025, which is roughly flat to first half 2025 production, excluding the Pembina disposition that closed in April 2025 (the "Pembina Disposition"). Included in our second half production estimate is the impact of a planned turnaround at our non-operated Pembina Cardium Unit #11 field which is expected to reduce second half 2025 volumes by approximately 300 boe/d. Significantly lower capital expenditures have resulted in expected average production below the ~29,000 boe/d referenced in our May 7, 2025 press release, however we expect to reach this production level later in the second half of 2025.Net operating costs improved in the second half of 2025, primarily driven by the Pembina Disposition, as those assets had a higher cost structure. General & administrative costs increased on a per boe basis in the second half due to our lower production base post the Pembina Disposition, as well as the decision to moderate production growth in the short-term. Our second half 2025 guidance assumes commodity prices of US$65.00/bbl WTI, US$3.50/bbl MSW differential, US$11.50/bbl WCS differential, and $2.50/GJ AECO natural gas. Based on these assumptions, we anticipate funds flow from operations ("FFO") of approximately $113 million with a net debt to FFO ratio of approximately 1.3 times (based on annualized second half FFO and not inclusive of the value of our InPlay shares) and prior to the NCIB. Our second half guidance is presented below. Estimated sensitivities to selected key assumptions on FFO for the second half of 2025 are as follows: SECOND HALF 2025 CAPITAL AND OPERATING PROGRAMThe breakdown of operated wells expected to be rig released during the second half of 2025 is as follows: (1)In addition, Obsidian Energy expects to participate in a total of six non-operated (2.7 net) wells in the second half of 2025. HEAVY OIL ASSETS Over the second half of 2025, the Company has planned $62 million of capital expenditures in Peace River, supporting average production of 13,500 boe/d, a 15 percent increase from the 11,728 boe/d in the second half of 2024.Our second half 2025 Peace River drilling program is focused on our key development fields at HVS (Bluesky formation) and Dawson (Clearwater formation). After an exploration/appraisal focused first half 2025 program, approximately 70 percent of our second half program utilizes existing pads, which allows us to efficiently grow our production by targeting lower risk development areas. Clearwater Formation — The Dawson area remains a key focus for the Company with 18 (18.0 net) wells planned, representing 90 percent of our second half Peace River development program. We have recently commenced drilling with two rigs on existing pads and expect this field to continue its organic growth trajectory. Our waterflood pilot on the Dawson 4-24 Pad continues to progress with all five (5.0 net) wells now on production including the two single-leg injector wells that are temporarily being produced prior to being converted to injection. The third development well on this pad was placed on production in mid-May and reported a 30-day initial production ("IP") rate of 242 boe/d (100 percent oil).Bluesky Formation — In June, we commenced our two (2.0 net) well second half 2025 Bluesky development program on our 14-07 HVS Bluesky Pad, immediately offsetting our initial highly productive well. The first (1.0 net) well that was drilled on this pad, earlier in 2025, produced at a 30-day IP rate of 546 boe/d (100 percent oil).LIGHT OIL ASSETS The Company expects to return to development in our Willesden Green area in the second half of 2025 with a one-rig operated program. Primary activities include development and exploration/appraisal drilling in the Cardium, Belly River and Mannville formations combined with continued participation in a non-operated Pembina Cardium Unit #11 drilling program. Over the second half of 2025, the Company has planned $52 million of capital expenditures in our Light Oil assets, supporting average production of approximately 14,200 boe/d.Willesden Green (Cardium, Belly River and Mannville Formations) — Our Willesden Green second half 2025 drilling program is designed to capitalize on the established Cardium and Mannville formations complemented by the emerging Belly River play, which has strong potential. We have eight (8.0 net) wells planned for the area: four (4.0 net) wells targeting the Cardium formation in the Willesden Green Cardium Unit #2, where we recently increased our working interest in conjunction with our Pembina disposition, three (3.0 net) wells that target the Belly River formation and one (1.0 net) well targeting the Mannville. The balance between formations allows us to optimize returns while strategically appraising and delineating new inventory. In the longer term the presence of both the Cardium and Belly River formations strengthens our development outlook and enhances our ability to tactically grow production and drive additional value creation at Willesden Green.Pembina (Cardium Formation, Non-Operated) — We are planning for continued drilling activity at the Pembina Cardium Unit #11 (~45 percent working interest) in the second half of 2025 as our partner completes the 2025 program. This underexploited area in the heart of the Pembina field has consistently delivered strong economic results; and we look forward to its continued development.HEDGING UPDATEThe Company has recently added new oil and gas contracts to help mitigate the volatile commodity price environment. Currently, we have the following contracts outstanding on a weighted average basis: INTENTION TO LAUNCH SHARE EXCHANGE OFFERThe Company is also pleased to announce that it intends to commence a substantial issuer bid (the "Exchange Offer") pursuant to which it will offer to purchase up to approximately $10 million of its common shares ("OBE Shares") from Obsidian Energy shareholders in the provinces and territories of Canada in exchange for common shares of InPlay ("InPlay Shares"). The Company currently owns 9,139,784 InPlay Shares, representing approximately 32.7% of the issued and outstanding InPlay Shares, which position was acquired in April 2025 as partial consideration in the Pembina Disposition. The maximum number of OBE Shares to be purchased under the Exchange Offer will be set out in the Exchange Offer Documents (as defined below), but is expected to be a fixed number of OBE Shares equal to approximately $10.0 million of OBE Shares based on the volume-weighted average price (the "VWAP") of OBE Shares on the TSX on the trading day prior to the commencement of the Exchange Offer. The number of InPlay Shares to be received as consideration for each OBE Share under the Exchange Offer is expected to be based on (i) the simple arithmetic average of the daily VWAP of the OBE Shares on the Toronto Stock Exchange ("TSX") during the five consecutive trading days ending on and including the second trading day preceding the expiration date of the Exchange Offer (the "Averaging Period"), divided by (ii) a to be determined percentage (the "Specified Percentage") of the simple arithmetic average of the daily VWAP of the InPlay Shares on the TSX during the Averaging Period, subject to a to be determined maximum number of InPlay Shares per OBE Share (the "Upper Limit"). The Specified Percentage and Upper Limit remain to be determined by the Company's Board of Directors, but will be included in the Exchange Offer Documents (as defined below) and, subject to the Upper Limit, the Specified Percentage will be less than one hundred percent and is expected to result in the InPlay Shares being delivered at a discount to their VWAP during the Averaging Period.The Exchange Offer will not be conditional upon any minimum number of OBE Shares being tendered, but will be subject to other conditions and Obsidian Energy will reserve the right, subject to applicable laws, to withdraw or amend the Exchange Offer, if, at any time prior to the payment for deposited OBE Shares, certain events occur as will be described in the formal offer to purchase and issuer bid circular and other related documents (the "Exchange Offer Documents") .Details of the Exchange Offer, including instructions for tendering OBE Shares to the Exchange Offer, will be included in the Exchange Offer Documents. The Exchange Offer is expected to commence and the Exchange Offer Documents are expected to be mailed to shareholders and filed on SEDAR+ at www.sedarplus.ca, on or about July 16, 2025 and the expiration date of the Exchange Offer is expected to be on or about August 22, 2025. Shareholders should carefully read the Exchange Offer Documents prior to making a decision with respect to the Exchange Offer. None of Obsidian Energy, its Board of Directors or the depositary for the Exchange Offer makes any recommendation to any shareholder as to whether to deposit or refrain from depositing OBE Shares under the Exchange Offer. Shareholders are urged to evaluate carefully all information in the Exchange Offer, consult their own financial, legal, investment and tax advisors, and make their own decisions as to whether to deposit OBE Shares under the Exchange Offer, and, if so, how many shares to deposit. The disclosure in this press release regarding the Exchange Offer is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell OBE Shares or an offer to sell InPlay Shares or the solicitation of an offer to buy InPlay Shares. The solicitation and the offer to buy OBE Shares, and the solicitation and offer to sell InPlay Shares, will only be made pursuant to the Exchange Offer Documents.THE EXCHANGE OFFER WILL ONLY BE MADE TO SHAREHOLDERS IN THE PROVINCES AND TERRITORIES OF CANADA. THE EXCHANGE OFFER WILL NOT BE MADE TO, AND NO INPLAY SHARES WILL BE DELIVERED TO, SHAREHOLDERS OUTSIDE OF THE PROVINCES AND TERRITORIES OF CANADA, INCLUDING IN THE UNITED STATES OR TO OR FOR THE ACCOUNT OR FOR THE BENEFIT OF A PERSON IN THE UNITED STATES.THE INPLAY SHARES HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES. THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITY (INCLUDING THE OBE SHARES AND/OR INPLAY SHARES), AND SHALL NOT CONSTITUTE AN OFFER, SOLICITATION OR SALE OF THE SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL.In connection with the announcement of the intention to commence the Exchange Offer, the Company has suspended repurchases of OBE Shares under its normal course issuer bid ("NCIB"). Purchases under the NCIB are expected to resume following the expiration of the Exchange Offer.ADDITIONAL READER ADVISORIES SUPPLEMENTAL PRODUCTION DISCOSUREOutlined below is expected average production by product based on the midpoint of our second half 2025 guidance estimates. BUDGET ASSUMPTIONS INFORMATIONCapital ExpendituresAsset level capital does not include $1 million in corporate capital.Commodity Pricing Second half 2025 pricing assumptions include risk management (hedging) adjustments as of July 9, 2025. WTI, Foreign Exchange and AECO price assumptions for second half 2025 are forecasted for July to December, 2025. MSW and WCS differential assumptions for the second half 2025E are forecasted for August to December, 2025. Per Share CalculationsPer share calculations are based on an estimated 67.7 million weighted average shares outstanding for the six months ended December 31, 2025.Per share calculations do not include any impact from the proposed Exchange Offer.OIL AND GAS INFORMATION ADVISORYBarrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet of natural gas to one barrel of crude oil is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency conversion ratio of 6:1, utilizing a conversion on a 6:1 basis is misleading as an indication of value. TEST RESULTS AND INITIAL PRODUCTION RATESTest results and initial production rates disclosed herein, particularly those short in duration, may not necessarily be indicative of long-term performance or of ultimate recovery. Readers are cautioned that short-term rates should not be relied upon as indicators of future performance of these wells and therefore should not be relied upon for investment or other purposes. A pressure transient analysis or well-test interpretation has not been carried out and thus certain of the test results provided herein should be considered preliminary until such analysis or interpretation has been completed.ABBREVIATIONS NON-GAAP AND OTHER FINANCIAL MEASURES Throughout this news release and in other materials disclosed by the Company, we employ certain measures to analyze financial performance, financial position, and cash flow. These non-GAAP and other financial measures do not have any standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures provided by other issuers. The non-GAAP and other financial measures should not be considered to be more meaningful than GAAP measures which are determined in accordance with IFRS, such as net income and cash flow from operating activities as indicators of our performance. The interim consolidated financial statements and MD&A as at and for three months ended March 31, 2025, are available on the Company's website at www.obsidianenergy.com and under our SEDAR+ profile at www.sedarplus.ca and EDGAR profile at www.sec.gov. The disclosure under the section 'Non-GAAP and Other Financial Measures' in the MD&A is incorporated by reference into this news release.Non-GAAP Financial MeasuresThe following measures are non-GAAP financial measures: FFO; net debt; net operating costs; netback; and free cash flow ("FCF"). These non-GAAP financial measures are not standardized financial measures under IFRS and might not be comparable to similar financial measures disclosed by other issuers. See the disclosure under the section 'Non-GAAP and Other Financial Measures' in our MD&A for the three-month period ended March 31, 2025, for an explanation of the composition of these measures, how these measures provide useful information to an investor, and the additional purposes, if any, for which management uses these measures. Non-GAAP RatiosThe following measures are non-GAAP ratios: FFO (basic per share ($/share) and diluted per share ($/share)), which use FFO as a component; net operating costs ($/boe), which uses net operating costs as a component; netback ($/boe), which uses netback as a component; and net debt to FFO, which uses net debt and FFO as components. These non-GAAP ratios are not standardized financial measures under IFRS and might not be comparable to similar financial measures disclosed by other issuers. See the disclosure under the section 'Non-GAAP and Other Financial Measures' in our MD&A in our MD&A for three months ended March 31, 2025, for an explanation of the composition of these non-GAAP ratios, how these non-GAAP ratios provide useful information to an investor, and the additional purposes, if any, for which management uses these non-GAAP ratios.Supplementary Financial MeasuresThe following measure is a supplementary financial measure: G&A costs ($/boe). See the disclosure under the section 'Non-GAAP and Other Financial Measures' in our MD&A for the three months ended March 31, 2025, for an explanation of the composition of these measures.FUTURE-ORIENTED FINANCIAL INFORMATIONThis release contains future-oriented financial information ("FOFI") and financial outlook information relating to the Company's prospective results of operations, operating costs, expenditures, production, FFO, FCF, net operating costs, and net debt, which are subject to the same assumptions, risk factors, limitations, and qualifications as set forth below under 'Forward-Looking Statements'. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, such FOFI, or if any of them do so, what benefits the Company will derive therefrom. The Company has included this FOFI to provide readers with a more complete perspective on the Company's business as of the date hereof and such information may not be appropriate for other purposes. Without limitation of the foregoing, this news release contains information regarding our growth plans, guidance for our second half 2025 capital expenditures; second half 2025 production levels, FFO, FFO per share, FCF, FCF per share, net operating costs, net debt (prior to NCIB) and net debt (prior to NCIB) to FFO ratio, which are based on various factors and assumptions that are subject to change including regarding production levels, commodity prices, operating and other costs and capital expenditure levels, and in the case of the periods other than the second half of 2025, such estimates are provided for illustration purposes only and are based on budgets and plans that have not been finalized and are subject to a variety of contingencies including prior years' results. To the extent that such estimates constitute FOFI or a financial outlook, they were approved by management of the Company on July 9, 2025, and are included to provide readers with an understanding of the Company's anticipated plans and financial results based on the capital expenditures and other assumptions described and readers are cautioned that the information may not be appropriate for other purposes.FORWARD-LOOKING STATEMENTSCertain statements contained in this document constitute forward-looking statements or information (collectively "forward-looking statements") within the meaning of the "safe harbour" provisions of applicable securities legislation. Forward-looking statements are typically identified by words such as "anticipate", "continue", "estimate", "expect", "forecast", "budget", "may", "will", "project", "could", "plan", "intend", "should", "believe", "outlook", "objective", "aim", "potential", "target" and similar words suggesting future events or future performance. In addition, statements relating to "reserves" or "resources" are deemed to be forward-looking statements as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted or estimated and can be profitably produced in the future. In particular, this document contains forward-looking statements pertaining to, without limitation, the following: our expectations for development capital and wells drilled for our second half 2025 program; our ability to monetize our InPlay equity position at a premium to current trading levels, the Company's intentions and expectations with respect to the Exchange Offer, the terms and conditions of the Exchange Offer, the number and aggregate dollar amount of OBE Shares and InPlay Shares to be exchanged under the Exchange Offer, the expected launch and expiration dates of the Exchange Offer and purchases thereunder; our plans and expectations for a pipeline de-bottlenecking project and road in our Nampa field; our expectations for production rate at year-end and sustaining capital on a go forward basis; certain turn-around expectations for 2025; our second half 2025 guidance for production (including mixture and type), capital and decommissioning expenditures, net operating costs, general & administrative costs, FFO and FFO/share, FCF and FCF/share, Net Debt (prior to NCIB) and Annualized Net Debt to FFO (prior to NCIB); our expected sensitivities to changes in WTI, foreign exchange, MSW, AECO and WCS; our guidance for asset level average production, capital expenditures, net operating costs, netbacks, net operation income and the asset level FCF; our future development and exploration/appraisal well opportunities, program and locations; our production expectations from certain fields; how we plan to grow production and drive additional value creation; our hedges; and our expectations for our NCIB.With respect to forward-looking statements contained in this document, the Company has made assumptions regarding, among other things: the duration and impact of tariffs that are currently in effect on goods exported from or imported into Canada, and that other than the tariffs that are currently in effect, neither the U.S. nor Canada (i) increases the rate or scope of such tariffs, reenacts tariffs that are currently suspended, or imposes new tariffs, on the import of goods from one country to the other, including on oil and natural gas, and/or (ii) imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas; that the Company does not dispose of or acquire material producing properties or royalties or other interests therein (except as disclosed herein); that regional and/or global health related events will not have any adverse impact on energy demand and commodity prices in the future; global energy policies going forward, including the continued ability and willingness of members of OPEC and other nations to agree on and adhere to production quotas from time to time; our ability to qualify for (or continue to qualify for) new or existing government programs, and obtain financial assistance therefrom, and the impact of those programs on our financial condition; our ability to execute our plans as described herein and in our other disclosure documents, and the impact that the successful execution of such plans will have on our Company and our stakeholders, including our ability to return capital to shareholders and/or further reduce debt levels; future capital expenditure and decommissioning expenditure levels; expectations and assumptions concerning applicable laws and regulations, including with respect to environmental, safety and tax matters; future operating costs and G&A costs and the impact of inflation thereon; future oil, natural gas liquids and natural gas prices and differentials between light, medium and heavy oil prices and Canadian, WTI and world oil and natural gas prices; future hedging activities; future oil, natural gas liquids and natural gas production levels; future exchange rates, interest rates and inflation rates; future debt levels; our ability to execute our capital programs as planned without significant adverse impacts from various factors beyond our control, including extreme weather events such as wild fires, flooding and drought, infrastructure access (including the potential for blockades or other activism) and delays in obtaining regulatory approvals and third party consents; the ability of the Company's contractual counterparties to perform their contractual obligations; our ability to obtain equipment in a timely manner to carry out development activities and the costs thereof; our ability to market our oil and natural gas successfully to current and new customers; our ability to obtain financing on acceptable terms, including our ability (if necessary) to extend the revolving period and term out period of our credit facility, our ability to maintain the existing borrowing base under our credit facility, our ability (if necessary) to replace our syndicated bank facility and our ability (if necessary) to finance the repayment of our senior unsecured notes on maturity or pursuant to the terms of the underlying agreement; the accuracy of our estimated reserve volumes; and our ability to add production and reserves through our development and exploitation activities.Although the Company believes that the expectations reflected in the forward-looking statements contained in this document, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the forward-looking statements contained herein will not be correct, which may cause our actual performance and financial results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things: the risk that (i) the tariffs that are currently in effect on goods exported from or imported into Canada continue in effect for an extended period of time, the tariffs that have been threatened are implemented, that tariffs that are currently suspended are reactivated, the rate or scope of tariffs are increased, or new tariffs are imposed, including on oil and natural gas, (ii) the U.S. and/or Canada imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas, and (iii) the tariffs imposed or threatened to be imposed by the U.S. on other countries and retaliatory tariffs imposed or threatened to be imposed by other countries on the U.S., will trigger a broader global trade war which could have a material adverse effect on the Canadian, U.S. and global economies, and by extension the Canadian oil and natural gas industry and the Company, including by decreasing demand for (and the price of) oil and natural gas, disrupting supply chains, increasing costs, causing volatility in global financial markets, and limiting access to financing; the possibility that we change our budgets (including our capital expenditure budgets) in response to internal and external factors, including those described herein; the possibility that the Company will not be able to continue to successfully execute our business plans and strategies in part or in full, and the possibility that some or all of the benefits that the Company anticipates will accrue to our Company and our stakeholders as a result of the successful execution of such plans and strategies do not materialize (such as our inability to return capital to shareholders and/or reduce debt levels to the extent anticipated or at all); the possibility that the Company ceases to qualify for, or does not qualify for, one or more existing or new government assistance programs, that the impact of such programs falls below our expectations, that the benefits under one or more of such programs is decreased, or that one or more of such programs is discontinued; the impact on energy demand and commodity prices of regional and/or global health related events and the responses of governments and the public thereto, including the risk that the amount of energy demand destruction and/or the length of the decreased demand exceeds our expectations; the risk that there is another significant decrease in the valuation of oil and natural gas companies and their securities and in confidence in the oil and natural gas industry generally, whether caused by regional and/or global health related events, the worldwide transition towards less reliance on fossil fuels and/or other factors; the risk that the financial capacity of the Company's contractual counterparties is adversely affected and potentially their ability to perform their contractual obligations; the possibility that the revolving period and/or term out period of our credit facility and the maturity date of our senior unsecured notes is not extended (if necessary), that the borrowing base under our credit facility is reduced, that the Company is unable to renew or refinance our credit facilities on acceptable terms or at all and/or finance the repayment of our senior unsecured notes when they mature on acceptable terms or at all and/or obtain new debt and/or equity financing to replace our credit facilities and/or senior unsecured notes or to fund other activities; the possibility that we are unable to complete one or more repurchase offers pursuant to our senior unsecured notes when otherwise required to do so; the possibility that we are forced to shut-in production, whether due to commodity prices decreasing, extreme weather events such as wild fires, inability to access our properties due to blockades or other activism, or other factors; the risk that OPEC and other nations fail to agree on and/or adhere to production quotas from time to time that are sufficient to balance supply and demand fundamentals for oil; general economic and political conditions in Canada, the U.S. and globally, and in particular, the effect that those conditions have on commodity prices and our access to capital; industry conditions, including fluctuations in the price of oil, natural gas liquids and natural gas, price differentials for oil and natural gas produced in Canada as compared to other markets, and transportation restrictions, including pipeline and railway capacity constraints; fluctuations in foreign exchange, including the impact of the Canadian/U.S. dollar exchange rate on our revenues and expenses; fluctuations in interest rates, including the effects of interest rates on our borrowing costs and on economic activity, and including the risk that elevated interest rates cause or contribute to the onset of a recession; the risk that our costs increase due to inflation, supply chain disruptions, scarcity of labour and/or other factors, adversely affecting our profitability; unanticipated operating events or environmental events that can reduce production or cause production to be shut-in or delayed (including extreme cold during winter months, wild fires, flooding and droughts (which could limit our access to the water we require for our operations)); the risk that wars and other armed conflicts adversely affect world economies and the demand for oil and natural gas, including the ongoing war between Russian and Ukraine and/or hostilities in the Middle East; the possibility that fuel conservation measures, alternative fuel requirements, increasing consumer demand for alternatives to hydrocarbons, government mandates requiring the sale of electric vehicles and/or electrification of the power grid, and technological advances in fuel economy and renewable energy generation systems could permanently reduce the demand for oil and natural gas and/or permanently impair the Company's ability to obtain financing and/or insurance on acceptable terms or at all, and the possibility that some or all of these risks are heightened as a result of the response of governments, financial institutions and consumers to a regional and/or global health related event and/or the influence of public opinion and/or special interest groups.Additional information on these and other factors that could affect Obsidian Energy, or its operations or financial results, are included in the Company's Annual Information Form (see 'Risk Factors' and 'Forward-Looking Statements' therein) which may be accessed through the SEDAR+ website (www.sedarplus.ca), EDGAR website (www.sec.gov) or Obsidian Energy's website. Readers are cautioned that this list of risk factors should not be construed as exhaustive.Unless otherwise specified, the forward-looking statements contained in this document speak only as of the date of this document. Except as expressly required by applicable securities laws, we do not undertake any obligation to publicly update or revise any forward-looking statements. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.Obsidian Energy shares are listed on both the Toronto Stock Exchange in Canada and the NYSE American in the United States under the symbol "OBE". All figures are in Canadian dollars unless otherwise stated.CONTACTOBSIDIAN ENERGYSuite 200, 207 - 9th Avenue SW, Calgary, Alberta T2P 1K3Phone: 403-777-2500Toll Free: 1-866-693-2707Website: www.obsidianenergy.com; Investor Relations: Toll Free: 1-888-770-2633E-mail: investor.relations@obsidianenergy.com To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258381
Granite Ridge Resources Schedules Second Quarter 2025 Earnings Conference Call
Granite Ridge Resources Schedules Second Quarter 2025 Earnings Conference Call DALLAS, Jul. 09 /BusinessWire/ -- Granite Ridge Resources, Inc. ("Granite Ridge") (NYSE:GRNT) today announced that it will report financial and operating results for the second quarter of 2025 on Thursday, August 7, 2025, after the close of trading on the New York Stock Exchange. Granite Ridge will host a webcast and conference call on Friday, August 8, 2025, at 10:00 a.m. central time to discuss its second quarter 2025 financial and operating results. Instructions on how to access the webcast and conference call are shown below. About Granite Ridge Granite Ridge is a scaled energy company which aims to provide shareholders with exposure similar to energy private equity through operated partnerships and traditional non-operated assets. We own assets in six prolific unconventional basins across the United States. We aim to deliver a diversified portfolio with best-in-class full cycle returns by investing in a large number of high-graded deals developed by proven public and private operators. We focus on success as measured by total shareholder returns, which we seek to balance with a low leverage profile. For more information, visit Granite Ridge's website at www.graniteridge.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20250709393760/en/ back