The Government of Canada on Oct. 1 listed the Pacific Link project as a Project of National Interest under the Building Canada Act, advancing work to secure permissions needed to begin pipeline design and construction as early as Sept. 1, 2027. Pacific Link, formerly known as the West Coast oil pipeline, is a proposed 1 million-b/d crude oil pipeline that would transport Alberta oil to Canada’s west coast for export to Asia-Pacific and other global markets. With the Project of National Interest designation, Pembina Pipeline Corp., Calgary, along with the Governments of Alberta and Canada, and Trans Mountain Corp., will advance the project under a streamlined regulatory review process. Pembina said the listing “provides greater certainty through a clearer, more efficient and predictable federal review process that will maintain environmental standards and Indigenous consultation, which will be led by the Major Projects Office and supported by the Canada Energy Regulator.” Trans Mountain Corp. is responsible for the regulatory process, stakeholder and Indigenous engagement, construction of the project, and subsequent operation of the asset. Pembina’s economic interest through construction will be 10%, with the opportunity to acquire up to an additional 10% once the project enters commercial operation.

Harmattan Energy Ltd., an affiliate of Chevron Corp., has agreed to a deal with Custos Energy (Pty) Ltd. subsidiary Trago Energy (Pty) Ltd. for interest in Petroleum Exploration License 90 (PEL 90) offshore Namibia.   Under the agreement, Trago will transfer all of its participating interest (10%) in PEL 90 in Namibia’s Orange Basin to license-operator Chevron, in exchange for $11 million in cash at completion. Further contingent consideration is payable on achievement of appraisal and production milestones, including revenues associated with commercial production currently estimated at 1.5-2.5 million bbl of oil (dependent upon commodity price assumptions), Custos said. With the deal, Chevron adds interests that help offset a famout deal entered into with Equinor.  In August, the operator agreed to divest to Equinor a 17.4% portion of its interest in the license, which contains a drill-ready prospect—Nabba-1X—slated for drilling before yearend. The well is part of a broader multi-well exploration program planned by Chevron across Sub-Saharan Africa. Nabba-1X will be Chevron’s second well offshore Namibia following Kapana-1X, where the company gathered geological data but did not encounter commercial hydrocarbons. Completion of Trago Energy’s farm-out to Chevron is conditional upon various governmental, regulatory, and third-party approvals.

US President Donald Trump on Sept. 30 said South Korea plans to invest $54 billion in the long-delayed Alaska LNG project as part of a broader package of up to $200 billion in South Korean investment in US energy projects. The announcement does not represent a final investment commitment. South Korean officials said the two countries agreed only to review the project’s commercial viability. South Korea separately finalized a $22.3-billion investment in a 6.47-Gw gas-fired power plant in Encinal, Tex., that would supply electricity to an adjacent AI data center campus. Proposed participation in Alaska LNG and a separate framework involving eight US nuclear reactors remain subject to feasibility reviews. The Alaska LNG project would transport North Slope gas through an 807-mile pipeline to a liquefaction and LNG export terminal at Nikiski on the Kenai Peninsula. Designed capacity is up to 20 million tpy of LNG, primarily for Asian markets. Glenfarne Group is lead developer and majority owner, holding a 75% stake acquired in 2025 from Alaska Gasline Development Corp. (AGDC), which retained 25%. The project originated in 2014 as a joint effort between AGDC, ExxonMobil, ConocoPhillips, bp, and TransCanada. After the producers withdrew, AGDC became sole owner in 2017 until Glenfarne assumed control. FERC approved the project in 2020, and federal permitting was completed in 2025. A final investment decision (FID), however, has been delayed by high capital costs and the need to secure sufficient LNG offtake commitments. Glenfarne has preliminary agreements covering about 13 million tpy and has said roughly 16 million tpy is needed to support financing. The company plans to develop Alaska LNG in two financially independent phases. The first would build a pipeline supplying North Slope gas to Alaska consumers, while the second would add LNG export infrastructure. Glenfarne is targeting a pipeline investment decision

The acquired position includes about 16,500 net acres in Eddy and Lea counties, NM, most of which is held by production, along with more than 156 future drilling locations (normalized to 2-mile laterals) across nine or more prospective benches. Matador said 59 drilling permits have already been approved on the Delaware basin acreage. The company said assets associated with the acquisition are producing an estimated 12,200 boe/d in the third quarter, about 55% of which is oil. Matador added that production from the acquired properties has exceeded underwriting estimates by roughly 10% since June 1, largely due to strong performance from recently drilled wells in Eddy County. According to company materials, the acquisition adds an estimated 55 MMboe of proved reserves, 67% of which is oil, with a PV-10 value of about $816 million.  Matador said the Paloma acquisition, together with its pending acquisition of Ridge Runner Resources II LLC acreage and acreage added in the May 2026 federal lease sale, is expected to increase its Delaware basin position to about 240,000 net acres in fourth-quarter 2026, nearly 20% above its October 2025 acreage position. Chairman and chief executive officer Joseph Wm. Foran said the acquired acreage holds some of the highest hydrocarbon resources per acre in the Lower 48 and is expected to provide opportunities for upstream and midstream value creation as it is integrated into its wholly-owned midstream system and its 51%-owned San Mateo Midstream system.

WASHINGTON—The U.S. Department of Energy (DOE) today announced its annual funding opportunity of up to $400 million to advance the frontiers of scientific knowledge and lay the foundation for future technologies and innovation. The funding delivers on President Trump’s Executive Order Restoring Gold Standard Science by supporting rigorous, transparent, and mission-driven research across DOE’s Office of Science to strengthen America’s scientific and technological leadership. “Foundational research is where the breakthroughs that shape America’s future begin,” said DOE Under Secretary for Science Darío Gil. “Through this investment, we are empowering our nation’s researchers to pursue bold ideas, push the boundaries of discovery, and build the scientific foundations for tomorrow’s technologies—strengthening America’s global leadership in science and innovation.” The funding will support research across DOE’s Office of Science and its major programs to tackle some of the nation’s greatest scientific challenges and accelerate discoveries in areas critical to America’s future. Research will span Advanced Scientific Computing Research, Basic Energy Sciences, Biological and Environmental Research, Fusion Energy Sciences, High Energy Physics, Nuclear Physics, and Isotope R&D and Production. The Notice of Funding Opportunity (NOFO), informally known as the “Open Call,” is issued annually at the beginning of each Fiscal Year (FY). It provides a vehicle for DOE’s Office of Science to solicit applications from institutions for research support in areas not covered by more specific, topical NOFOs issued by the office in FY 2027. More details about this Notice of Funding Opportunity can be found here. DOE’s Office of Science is the nation’s largest supporter of basic research in the physical sciences, funds research at hundreds of universities nationwide, and stewards 10 of DOE’s National Laboratories.

The company disclosed the transaction as part of an operational update following the recent closing of its acquisition of WildFire Energy. Chris Stavros, Magnolia chairman, president, and chief executive officer, said integration of the WildFire assets is progressing as planned as the company works to build a larger Eagle Ford and Austin Chalk position across South Texas. Production, capital outlook Third-quarter 2026 production is expected to average 116,000-118,000 boe/d (about 42% oil), reflecting the WildFire acquisition and the impact of the divested properties, Magnolia said. Drilling and completion (D&C) capital spending for the quarter is expected to total $155-165 million. For fourth-quarter 2026, the first full quarter reflecting the WildFire acquisition, production is forecast at 159,000-161,000 boe/d with oil accounting for 49-50% of volumes. D&C spending is expected to be about $235 million. For 2027, Magnolia expects both oil production and total production to grow 4-5% from a second-quarter 2026 pro forma base of about 78,000 bo/d and 158,000 boe/d, respectively, after accounting for volumes associated with the asset sale. The company currently estimates 2027 D&C capital spending of $900-950 million, including the impact of modest oilfield service cost inflation.