The U.S. Department of Energy (DOE) has extended its collaboration with Norway’s Royal Ministry of Energy on water power research and development. The extension builds on the previously signed memorandum of understanding under which the two countries planned and coordinated activities. The DOE said in a media release the cooperation aims to reduce energy costs and strengthen grid reliability and security.   “Strong partnerships drive innovation, and innovation strengthens America’s energy future”, U.S. Energy Secretary Chris Wright said. “Hydropower is a tremendous resource – one that supports reliable, affordable power across the country and holds vast potential to bolster America’s grid. “By signing this Memorandum of Understanding with Norway, we are building upon our two nations’ shared expertise and advanced marine energy technologies to support President Trump’s pro-growth energy agenda for the American people”. “Hydropower and marine energy have the potential to reduce energy costs and improve the resilience of our electric grid”, Lou Hrkman, Principal Deputy Assistant Secretary for Energy Efficiency and Renewable Energy, added. “Our collaboration with Norway – another country that is rich in water power resources – will help us expand our generation capacity, upgrade existing facilities, and cultivate the technical expertise we need to make the most of these opportunities”. In 2020, the DOE and Norway’s Royal Ministry of Energy signed a five-year MOU Annex, under which the DOE’s Water Power Technologies Office would conduct hydropower research and development with the Norwegian Research Centre for Hydropower Technology, the DOE said. The current MOU Annex broadens this collaboration to include marine energy, which could supply locally sourced power to millions of Americans in densely populated areas, the DOE said. Through the extended MOU, both parties will share key information, tools, and technologies aimed at lowering barriers to developing, testing, and advancing marine energy and new hydropower solutions. To contact

The United States Department of the Interior (DOI) is proposing updates to land regulations to promote combined production from multiple leases, saying the practice “reduces environmental impacts, lowers operating costs and increases overall efficiency”. The proposed changes to the Bureau of Land Management oil and gas regulations “will implement the One Big Beautiful Bill’s directive to the Secretary of the Interior to approve onshore commingling applications”, the DOI said in an online statement. Commingling is currently restricted to license areas that have “identical mineral ownership, royalty rates and revenue distribution”, the DOI said. “These requirements create unnecessary barriers in many areas of the West where mineral ownership is complex and varied. “The proposed changes would allow commingling even when these conditions differ, unlocking energy potential that is currently tied up in regulatory red tape”. “Thanks to major advancements in metering and measurement technologies, operators can now accurately track production and allocate royalties even at the individual wellhead”, the DOI added. “These technologies meet the precision standards required by the Bureau of Land Management and ensure that all mineral owners receive their fair share”. It estimates up to $1.8 billion in industry savings annually under the updated regulations. “Those savings would give operators the ability to reinvest in new energy production, helping drive domestic energy development while reducing the need for duplicative infrastructure”, the DOI said. “This rule would also allow for greater flexibility in how production is combined and measured, which will not only increase efficiency but also reduce surface disturbance, benefiting both industry and the environment”. “The Bureau of Land Management intends to move quickly to update the relevant regulations under 43 CFR Subpart 3173, with a formal rulemaking process to follow, including opportunities for public comment”, the DOI said. Interior Secretary Doug Burgum commented, “This is about common

Strathcona Resources Ltd. has closed its Montney asset sale in Western Canada, consisting of Groundbirch, Kakwa, and Grande Prairie assets, for a total value of approximately $2.09 billion (CAD 2.86 billion), including closing adjustments. Strathcona said it is now a pure-play heavy oil company producing approximately 120 million barrels per day (MMbpd) with a 50-year 2P reserve life index. The company has plans to grow to 195 MMbpd by 2031, according to a news release. After deducting all debt, Strathcona said it currently has approximately CAD 200 million in positive net cash and marketable securities, inclusive of approximately 4.6 million shares in Tourmaline Oil Corp. and 23.4 million shares in MEG Energy Corp. ARC Resources Ltd. acquired the condensate-rich Montney assets in Alberta’s Kakwa in an all-cash transaction valued at approximately CAD 1.6 billion. The assets are “underpinned by a substantial drilling inventory and include owned and operated infrastructure, reinforcing ARC’s position as Canada’s largest Montney and condensate producer,” the company said in a separate statement. For the remainder of 2025, the assets are expected to deliver average production between 35,000 and 40,000 barrels of oil equivalent per day (boepd), consisting of approximately 50 percent crude oil and liquids and 50 percent natural gas, ARC said. The acquisition increases ARC’s Kakwa production 24 percent to over 210,000 boepd and increases the Montney inventory duration at Kakwa from 12 years to over 15 years, according to the statement. The transaction includes 100 percent ownership of two natural gas processing facilities and condensate handling infrastructure. In addition, the assets include a 19 percent interest in a third-party natural gas processing facility with deep-cut natural gas liquids (NGL) recovery, ARC said. ARC said its development plans for the assets will target the Montney, which is approximately 100 percent working interest land. ARC will

Delfin Midstream Inc. is moving closer to a positive final investment decision (FID) for its deepwater port project in Louisiana with the signing of two agreements. Delfin entered into an agreement with Siemens Energy Inc. to reserve manufacturing capacity for four SGT-750 gas turbine mechanical drive packages, the company said in a news release. The equipment will be used to drive the mixed-refrigerant compressors for Delfin’s liquefied natural gas (LNG) liquefaction system. Delfin said it also agreed to an Early Works program with Samsung Heavy Industries and Black & Veatch Inc. to further detail floating liquefied natural gas (FLNG) vessel design specifications as the basis for the lump-sum, turn-key engineering, procurement, construction, and integration (EPCI) contract and to prepare both contractors for the execution of the project. Financial terms of the contracts were not disclosed. The work will de-risk project execution and ensure both contractors are prepared for immediate project execution following a positive FID, expected in the fall of 2025, Delfin said. Delfin CEO Dudley Poston said, “This is an incredibly exciting time for the development of Delfin’s critical energy infrastructure project. Following the successful issuance of the deepwater port license by MARAD, all workstreams are on schedule and the project is currently on track for FID in the fall of 2025. By making this large investment to lock-in critical manufacturing capacity, we have secured our execution schedule with the anticipated delivery of our first FLNG vessel from Samsung Heavy Industries shipyard in 2029”. Siemens Energy executive board member Karim Amin said, “Siemens Energy is excited to support Delfin’s energy infrastructure project by providing the critical Gas Turbine Mechanical Drive packages the Company needs as it moves towards delivering the first offshore LNG project in the United States. The modular design, high power-to-weight ratio and ability to operate under

Executives from oil and gas firms have revealed where they expect the Henry Hub natural gas price to be at various points in the future in the second quarter Dallas Fed Energy Survey, which was released recently. The survey asked participants what they expect Henry Hub natural gas prices to be in six months, one year, two years, and five years. Executives from 116 oil and gas firms answered this question and gave a mean response of $3.66 per million British thermal units (MMBtu) for the six month mark, $3.81 per MMBtu for the one year mark, $4.12 per MMBtu for the two year mark, and $4.50 per MMBtu for the five year mark, the survey showed. Executives from 117 oil and gas firms answered this question in the first quarter Dallas Fed Energy Survey and gave a mean response of $3.71 per MMBtu for the six month mark, $3.98 per MMBtu for the year mark, $4.30 per MMBtu for the two year mark, and $4.83 per MMBtu for the five year mark, that survey showed. The second quarter Dallas Fed Energy Survey also asked participants what they expect the Henry Hub price to be at the end of this year. Executives from 133 oil and gas firms answered this question and gave an average response of $3.66 per MMBtu, the survey highlighted. The low forecast was $1.75 per MMBtu, the high forecast was $5 per MMBtu, and the average Henry Hub natural gas daily spot price during the survey was $3.30 per MMBtu, the survey pointed out. Executives from 127 oil and gas firms answered this question in the first quarter Dallas Fed Energy Survey and gave an average response of $3.78 per MMBtu, that survey showed. The low forecast came in at $2 per MMBtu, the high forecast

Calgary, Alberta-based Trican Well Service Ltd. said it has entered into an agreement to acquire privately owned fracturing and coiled tubing services provider Iron Horse Energy Services, which operates primarily in the Cardium, Charlie Lake, Mannville Stack, Viking, Montney and Shaunavon plays in the Western Canadian Sedimentary Basin (WCSB). Trican aims to acquire all of the issued and outstanding shares of Iron Horse for approximately $56.6 million (CAD 77.35 million) in cash and approximately 33.76 million common shares of Trican, the company said in a news release. Iron Horse “extends Trican’s fracturing footprint and adds industry-leading coiled tubing integrated fracturing expertise,” according to the release. The acquisition will add over four fracturing spreads and 10 coiled tubing units, which will augment Trican’s services offering throughout the WCSB across the drilling, completion, and production lifecycles, the company said. Following the acquisition, Iron Horse will operate as a wholly owned division of Trican, continuing to serve its existing customers while increasing its footprint with the support of Trican’s resources. Trican said it expects to retain all of the existing management and employees of Iron Horse. The acquisition is expected to close in the second half. Iron Horse Chairman and CEO Tom Coolen will be appointed to the board of directors of Trican after closing, according to the release. Other than Competition Act Approval, and TSX listing approval of the common shares of Trican to be issued pursuant to the Acquisition, no approval, order, consent of or filing with any government agency is required on the part of Iron Horse or Trican, in connection with the completion of the acquisition, Trican said. “Iron Horse is one of [the] few North American fracturing companies that has consistently demonstrated operational and financial performance that aligns with Trican. The acquisition will provide significant EBITDA, free cash