Exploration & Production (E&P)

Lower oil prices drag ConocoPhillips Q4 profit below estimates

February 5, 2026

(Oil Price) – ConocoPhillips (NYSE: COP) booked lower-than-expected earnings for the fourth quarter as higher production was unable to offset the decline in oil prices. ConocoPhillips reported on Thursday fourth-quarter adjusted earnings of $1.3 billion, or $1.02 per share. That was nearly halved compared with adjusted earnings of $2.4 billion, or $1.98 per share, for the fourth quarter of 2024. The earnings for

VAALCO Energy to sell non-core Canadian assets for $35 million

February 5, 2026

(World Oil) – VAALCO Energy has agreed to sell its non-core producing properties in Canada for approximately CAD $35 million (about USD $25.6 million), as the company continues to streamline its portfolio and focus capital on higher-return upstream opportunities. The assets, which currently produce about 1,850 boed working interest, are expected to close within 30 days, subject to customary conditions. The transaction

Marathon Petroleum beats earnings expectations as refining margins surge

February 3, 2026

(Oil Price) – Marathon Petroleum (NYSE: MPC) beat fourth-quarter earnings expectations by a mile as refining margins surged in the latter part of 2025. One of the biggest U.S. refiners on Tuesday reported fourth-quarter adjusted net income of $1.2 billion, or $4.07 per share, trouncing the analyst consensus estimate of $2.72 earnings per share in The Wall Street Journal. The fourth quarter of 2025 adjusted

Ovintiv Announces Closing of NuVista Energy Acquisition

February 3, 2026

(Oil & Gas 360) – DENVER, Feb. 3, 2026 /CNW/ – Ovintiv Inc. (NYSE: OVV) (TSX: OVV) (“Ovintiv” or the “Company”) announced today that it has completed its acquisition of all of the common shares (“NuVista Shares”) of NuVista Energy Ltd. (TSX: NVA) (“NuVista”) in a cash and stock transaction valued at $2.7 billion. The acquisition is expected to add approximately 930 net 10,000-foot equivalent well

Devon Energy and Coterra Energy to Combine, Creating a Premier Shale Operator

February 2, 2026

(Oil & Gas 360) – OKLAHOMA CITY & HOUSTON–(BUSINESS WIRE)– Devon Energy (“Devon”) (NYSE: DVN) and Coterra Energy (“Coterra”) (NYSE: CTRA) today announced the signing of a definitive agreement to merge in an all-stock transaction. The combination will create a leading large-cap shale operator with a high-quality asset base anchored by a premier position in the economic core of the Delaware Basin.

Exxon affiliate Imperial to end Canada’s Norman Wells oil production in 2026

February 2, 2026

(World Oil) – Imperial, a majority-owned affiliate of ExxonMobil, said it will end hydrocarbon production at its Norman Wells operations in Canada’s Northwest Territories in the third quarter of 2026, as the field reaches the end of its productive life. The decision follows continued production decline at the century-old asset, which includes producing wells located on natural and artificial islands in the Mackenzie River

Equinor exits Vaca Muerta with $1.1 billion sale to Vista Energy

February 2, 2026

(Oil Price) – Equinor will sell all its assets in Argentina’s Vaca Muerta basin to Vista Energy in a cash and stock deal worth $1.1 billion, the Norwegian energy major said on Monday as it continues to high-grade its international portfolio. The deal includes Equinor’s 30% non-operated interest in the Bandurria Sur asset and its 50% non-operated interest in the Bajo del Toro

Oil prices slump on U.S.-Iran talks; OPEC+ holds production

February 2, 2026

(Investing) – Oil prices fell sharply Monday as geopolitical tensions between the U.S. and Iran eased, prompting traders to lock in profits after a recent jump in prices. At 08:20 ET (13:20 GMT), Brent oil futures for April tumbled 5.1% to $65.82 a barrel and U.S. West Texas Intermediate crude fell 5.2% to $61.76 per barrel. Oil prices rose to near six-month highs

CanCambria Energy Announces Second Upsize and Closing of Non-Brokered Private Placement for Gross Proceeds of $3,275,350

January 30, 2026

(Oil & Gas 360) – Vancouver, BC – January 29, 2026 – CanCambria Energy Corp. (TSXV: CCEC) (FSE: 4JH) (OTCQB: CCEYF) (“CanCambria” or the “Company”) is pleased to announce today that, further to its news releases dated January 5, 2026 and January 15, 2026, it has closed a second upsize of its non-brokered private placement (the “Offering”) for gross proceeds of

SM Energy completes Civitas merger, expands Permian and U.S. shale footprint

January 30, 2026

(World Oil) – SM Energy Company has closed its all-stock merger with Civitas Resources, Inc. following shareholder approval at special meetings held Jan. 27. The combined company will continue operating under the SM Energy name. The transaction creates a larger, oil-focused U.S. independent with a broader footprint across core shale basins, including an expanded position in the Permian Basin. Management has previously outlined plans

Chevron beats profit estimates as it commits to Venezuela

January 30, 2026

(Oil Price) – Chevron Corporation (NYSE: CVX) reported on Friday consensus-beating earnings for the fourth quarter as it pledged to boost presence in Venezuela, where it is currently the only U.S. company authorized to operate. Chevron reported today adjusted earnings of $3.0 billion, or $1.52 per share, for the fourth quarter of 2025. While the profit was lower compared to the same period

Exxon beats Wall Street profit targets with help from higher production, refining

January 30, 2026

(BOE Report) – Exxon Mobil beat Wall Street targets in fourth-quarter earnings reported on Friday, with higher oil production in profitable Permian Basin and Guyana assets helping to boost the No. 1 U.S. oil producer’s results. Adjusted earnings for the October to December quarter were $1.71 per share, beating a consensus estimate of $1.68 per share from analyst data compiled by

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