WTI CRUDE 84.21 $/bbl ▲ +0.98 (+1.18%) | BRENT CRUDE 90.91 $/bbl ▲ +1.69 (+1.89%) | GASOLINE 3.23 $/gal ▼ -0.16 (-4.78%) | HEATING OIL 4.03 $/gal ▼ -0.09 (-2.28%) | OIL SERVICES ETF 384.36 $/sh ▲ +9.18 (+2.45%) | LNG 262.48 $/sh ▼ -2.47 (-0.93%) | URANIUM ETF 40.13 $/sh ▲ +1.46 (+3.78%) | LITHIUM ETF 69.18 $/sh ▲ +2.26 (+3.38%) |
Oil and Energy Market Context - Macro Drivers Key macro instruments that drive oil price movements - dollar, yields, risk appetite DXY US Dollar Index 101.18 pts ▲ 0.19 (+0.19%) headwind for oil Oil priced in USD — rising dollar pressures oil | WTI WTI Crude Oil 84.21 $/bbl ▲ 0.98 (+1.18%) positive for oil US benchmark crude price | BRENT Brent Crude 90.91 $/bbl ▲ 1.69 (+1.89%) positive for oil Global benchmark crude price | NAT GAS Natural Gas 2.86 $/MMBtu ▲ 0.00 (+0.14%) positive for oil Henry Hub natural gas price | XLE Energy Sector ETF 58.30 $/sh ▲ 0.37 (+0.63%) positive for oil Energy sector equity benchmark | SPX S&P 500 7,506.51 pts ▲ 63.23 (+0.85%) positive for oil Broad risk appetite indicator |
| ▲ Rising DXY or yields typically pressure oil prices | ▲ Falling yields or geopolitical risk support energy markets | Live data - fetched at send time |
Market Commentary TAG OIL | TSXV: TAO | OTCQB: TAOIF • Proven oil producer operating in Egypt's Western Desert with active drilling across the BED-1 and SERQ concessions at the Abu Roash 'F' reservoir. • Financially strong and pursuing accelerated growth through acquisition across the Middle East and North Africa region. Find out more → |
Interesting Company News Today Sintana Energy: Latin-America Updates(TSX-V:SEI, AIM:SEI, OTCQX:SEUSF) Sintana Energy, Inc. announced that ANCAP, the Uruguayan state-owned energy company and regulator, has agreed to a suspension of the initial exploration subperiod of the AREA OFF-1 block, offshore Uruguay, for 1 year, extending the first exploration subperiod to expire on 23 August 2027. The suspension was requested by Chevron Mexico Finance LLC, Sucursal Uruguay, due to the time taken for environmental authorisation of the AREA OFF-1 3D seismic acquisition campaign. An initial season of seismic acquisition was completed prior to the end of April 2026, with a second season scheduled to commence in Q4 2026. On 14 February 2025, Challenger Energy Group plc, a member of the Sintana group of companies, submitted an expression of interest for an offshore hydrocarbon exploration permit in the North Argentine Basin (CAN - 200). On 15 July 2026, Decree 590/2026 was published, instructing the National Secretariat of Energy to call for an International Public Tender based on Challenger Energy's expression of interest. The company projects that Challenger will proceed to participate in this process, in compliance with Argentine law and authorities. Pharos Energy: Publication and Posting of Scheme Document(LSE:PHAR) Pharos Energy plc is the subject of a recommended cash acquisition by Ratio Petroleum Energy LP, with an offer price of up to 28 pence per Pharos Share. The acquisition will be effected by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006. The Scheme Document was published and posted to shareholders on 21 July 2026, and the Court Meeting and General Meeting are scheduled for 17 August 2026 at the offices of Ashurst Perkins Coie UK LLP, London. The Scheme requires the approval of a majority in number representing 75 per cent. or more in value of votes cast by Scheme Shareholders at the Court Meeting, and the passing of the Resolution by the requisite majority at the General Meeting. The Scheme is also subject to the satisfaction or waiver of conditions, including Regulatory Conditions in Egypt and Vietnam. The Scheme is currently expected to become Effective in H1 2027. If the Scheme becomes Effective, applications will be made to cancel the admission to trading in Pharos Shares on the Main Market and to re-register Pharos as a private limited company. Capricorn Energy: Publication and Posting of Scheme Document(TSX:CNE) Capricorn Energy plc is the subject of a recommended cash acquisition by Genel Energy No.9 Limited, a company indirectly owned by Genel Energy plc, for US$4.74 in cash for each Capricorn Share held. The Acquisition Value consists of US$3.75 in cash (the "Acquisition Price") and a special dividend of US$0.99, which is intended and expected to be declared prior to the Effective Date. The Court Meeting and General Meeting to approve the Scheme are scheduled for 18 August 2026 at the offices of Ashurst Perkins Coie UK LLP, London Fruit & Wool Exchange, 1 Duval Square, London E1 6PW, with the Court Meeting at 12.00 p.m. and the General Meeting at 12.15 p.m. Scheme Shareholders must submit Forms of Proxy by no later than 12.00 p.m. on 14 August 2026 for the Court Meeting and 12.15 p.m. on 14 August 2026 for the General Meeting. The Scheme is currently expected to become Effective during the second half of 2026, subject to the satisfaction or waiver of the Conditions set out in the Scheme Document and the sanction of the Scheme by the Court. Prior to the Scheme becoming Effective, applications will be made to the London Stock Exchange and the Financial Conduct Authority to cancel the admission of Capricorn Shares to trading and to the Official List, with the last day of dealings expected to be the Business Day immediately prior to the Effective Date. The Capricorn Directors unanimously recommend that all Scheme Shareholders vote in favour of the Scheme at the Court Meeting and that all Capricorn Shareholders vote in favour of the resolution at the General Meeting. Sky Quarry Moves its Foreland Refinery near Ely, Nevada into Production(NASDAQ: SKYQ) Sky Quarry Inc. has moved its Foreland Refinery near Ely, Nevada into its production phase, with approximately 10,000 barrels of crude and in-process inventory on-site and more than 100,000 barrels of total storage capacity. The company describes Foreland as the only refinery in Nevada, configured to produce diesel, vacuum gas oil (VGO), naphtha, and asphalt for western U.S. markets, in a state that imports more than 90% of its transportation fuels. Sky Quarry has launched an initiative to catalyze new drilling in Nevada's Railroad Valley, with a 2025 U.S. Geological Survey assessment estimating Nevada holds approximately 1.4 billion barrels of undiscovered, technically recoverable oil beneath federal lands. The company appointed Ray Hansen, a 35-year refining veteran formerly of HF Sinclair, CITGO, and Chevron, as President of its wholly owned subsidiary Foreland Refining Corporation. The company expects the production phase to be judged on operational performance, cash-generating capability, and its strategic position within the Western fuel market. Management targets ramping production and preparing PR Spring for its next stage of development. At its peak, Railroad Valley wells produced roughly 5,000 barrels per day, and the company believes more wells with that kind of productivity are still possible. American Battery Materials Announces Anticipated Uplisting to the NYSE American Stock Exchange(OTC:BLTH) American Battery Materials Inc. announced that its shares of common stock and warrants are expected to be approved for listing on the NYSE American LLC stock exchange. The Company expects that its common stock will begin trading on the NYSE American under the symbol “BLTH” and its warrants under the symbol “BLTH WS” at the opening of trading on or about July 24, 2026, subject to final authorization of the Company’s listing application and continued compliance with the exchange rules. The Company expects its shares of common stock will continue to be quoted on the OTC Markets’ OTCID Market until the close of the market on or about July 23, 2026. Upon effectiveness of the Company’s Registration Statement and listing on the NYSE American, quotation of the common stock on the OTCID will terminate. Stockholders of the Company do not need to take any action prior to the listing of the Company’s shares on the NYSE American. American Battery Materials, Inc. (OTC: BLTH) is a U.S.-based environmentally responsible critical minerals extraction company focused on direct lithium extraction (DLE), as well as production of other minerals for refining, processing and distribution. The company projects that its listing on the NYSE American is subject to final authorization and continued compliance with the exchange rules. OBSIDIAN ENERGY | TSX: OBE • Strategic Belly River acquisition consolidates Obsidian as the largest Belly River producer. • ~$100M capital program increase targeting 15% production growth in 2027. • Light and heavy oil assets across Peace River, Willesden Green and Viking. Explore Obsidian → |
Zenith Energy: Financing in Norway(LSE: ZEN; OSE: ZENA) Zenith Energy Ltd. has completed a private placement of common shares with institutional investors in Norway, raising an aggregate total amount of approximately £2,116,000 (equivalent to approx. NOK 27,500,000 or US$2,848,000) and issuing a total of 50,000,000 new common shares. The financing was completed at a subscription price of NOK 0.55 per new common share, representing a discount of approximately 0.36 per cent to the closing price of the company's common shares on Euronext Growth Oslo on July 20, 2026. Following admission, the company will have 764,756,457 common shares in issue, each carrying one vote. In connection with the financing, the company has issued 50,000,000 share purchase warrants on a one-for-one basis, with each warrant entitling the holder to subscribe for one common share at an exercise price of NOK 0.675 (equivalent to approximately £0.0519), with a duration of two years from the date of issue. The company plans to use the funds to provide finance for due diligence and construction of a new biogas project, additional funding for legal expenses in connection with international arbitration proceedings, advance the continued development of its solar energy portfolio, and for general working capital purposes. The company's solar portfolio is approaching a 200 MWp development pipeline, and it commenced construction of its first solar energy production facility in July 2026. The company is the largest shareholder in Reveille Resources Plc, a recently London-listed uranium exploration company. Ecopetrol Resumes Tender Offer in Brazil to Complete the Acquisition of a Controlling Equity Stake in Brava Energia(NYSE: EC) Ecopetrol S.A. announced that its Brazilian subsidiary, Ecopetrol Investimentos do Brasil LTDA, published the terms and conditions of the Voluntary Tender Offer (OPAV) for the acquisition of 116,110,717 common shares of Brava Energia S.A., representing approximately 25% of its share capital. The OPAV is expected to remain open until August 5, 2026, when the auction would take place. Ecopetrol is the largest company in Colombia, with more than 19,000 employees, and is responsible for more than 60% of the hydrocarbon production in Colombia. The company acquired 51.4% of ISA's shares, expanding its participation in energy transmission, real-time systems management (XM), and the Barranquilla - Cartagena coastal highway concession. Internationally, Ecopetrol has Drilling and Exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, and Mexico, and, through ISA and its subsidiaries, holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia. The transaction remains subject to the fulfillment of applicable regulatory requirements and certain specific conditions precedent. The company expects to disclose the results of the OPAV together with any other material developments related to the transaction. Omega Oil Gas Prepares for Largest Drilling Campaign to Date at Canyon-3 Well(ASX:OMA) Omega Oil & Gas has confirmed that contractor Helmerich & Payne is mobilising a high-performance rig to the Canyon-3 well on the eastern flank of the Taroom Trough in onshore Queensland to kick off exploration for the new field season. Two well pads have been constructed in PCA 342 (Omega 100% owner and operator), and construction of a third pad has commenced in the southern portion of ATP 2081 (Omega 45%, Tri-Star 30% and Beach Energy (ASX: BPT) 25%). The Canyon-3 campaign is Omega’s largest drilling program to date and will evaluate five stacked tight-sand reservoir intervals through four vertical wells (each taking up to 30 days to complete) and up to two horizontal wells (each to 2,000 metres depth), including fracture stimulation and flow testing. The vertical wells are designed to guide the selection of the highest-quality intervals for horizontal drilling, hydraulic stimulation, and extended production testing. Omega expects the well results to support resource growth within the Canyon PCA area and provide the foundation for a maiden contingent resource booking within ATP 2081. The company describes the campaign as representing the next phase in evaluating what could be a large-scale onshore oil and gas opportunity of international significance. Omega states that the program is fully funded and that they look forward to delivering a steady flow of results as the program progresses. Lycos Energy Inc. Announces Strategic Acquisition of Sparky Waterflood Assets, $30.0 Million Equity Financing, Expanded Credit Facility, Operations Update and Increased 2026 Guidance(TSXV: LCX) Lycos Energy Inc. announced it has entered into a definitive agreement to acquire high netback assets under waterflood targeting the Sparky formation in the Greater Provost area of Alberta for cash consideration of $70.0 million, prior to closing adjustments, with an effective date of June 1, 2026. The acquisition will be funded through a $30.0 million bought deal equity financing and an expanded $75.0 million credit facility, with closing expected on August 6, 2026. Lycos is increasing its previously announced exit 2026 production guidance from 2,500 – 3,000 boe/d to 3,000 – 3,500 boe/d, and its 2026 capital expenditure budget from $35 – 40 million to $50 – 55 million. The acquired assets add approximately 1,000 boe/d of base production supported by proven waterflood operations, with an operating netback of approximately $45/boe (US $70 WTI) and proved plus probable reserves of 4.1 MMboe. After giving effect to the acquisition, the company now expects exit 2026 production of 4,000 – 4,500 boe/d and forecasts Net Debt to Annualized Adjusted Funds Flow to be less than 1.0x at closing, exiting the year at approximately 0.7x. The company will have 128,892,212 Common Shares outstanding after the equity financing, excluding the exercise of the over-allotment, and 131,852,762 Common Shares outstanding assuming the exercise of the over-allotment in full. Eagle Nuclear Energy Provides Second Quarter 2026 Corporate Update(NASDAQ: NUCL) Eagle Nuclear Energy Corp. announced a corporate update for the second quarter ending May 31, 2026, highlighting the advancement of its Aurora Uranium Project and proprietary Small Modular Reactor (SMR) technology platform. The company reported a cash balance of $28.1 million and no outstanding interest-bearing debt as of May 31, 2026. Eagle owns the largest conventional, measured and indicated uranium deposit in the United States, located in southeastern Oregon, including the Aurora deposit with 32.75Mlbs Indicated and 4.98Mlbs Inferred (SK-1300 TRS) of near-surface uranium resource. In April 2026, Eagle engaged Harris Exploration Drilling & Associates Inc. for the Aurora drill program and filed permit applications with the Bureau of Land Management and Oregon Department of Geology and Mineral Industries. In June 2026, the company engaged Tensor Medium Corporation to support its SMR program with AI-enabled reactor modeling and simulation capabilities. The company projects completion of a Pre-Feasibility Study (PFS) for Aurora in late-2027 and ongoing environmental baseline studies to support permitting and mine design optimization. Additional partnerships were announced in July 2026 with Yukuskon Professional Services, LLC, BBA USA Inc., and SLR International Corporation to execute the Aurora drill program and progress towards the expected PFS. SYNTHOLENE ENERGY | TSXV: ESAF | OTC: SYNTF | FSE: 3DD0 • Iceland demonstration facility completed six months ahead of schedule with operations now underway. • Syntholene's Thermal Hybrid Production System targets 70% lower cost than competing synthetic fuel technology. • Carbon-negative eSAF engineered to pure molecular kerosene, drop-in compatible with existing engines, pipelines and tankers. Track Syntholene's progress → |
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