Oil and gasoline prices recently surged due to escalating conflict in the Middle East, which raised fears of supply disruptions through key routes like the Strait of Hormuz and pushed crude prices above $80 per barrel. Prices may ease if global supply increases—such as allowing more Russian crude exports, boosting production, releasing strategic reserves, or stabilizing shipping and refinery operations.
A proposed 645-mile pipeline expansion from Montana to the Guernsey crude hub could transport up to 550,000 barrels per day, improving crude takeaway capacity for Wyoming’s Powder River Basin. By linking Canadian crude flows entering Montana with existing U.S. pipeline infrastructure, the project could partially restore the transportation role once envisioned by the cancelled Keystone XL pipeline.
A report from National Bank of Canada argues that TC Energy should restart its dormant Line 2 pipeline to strengthen Canada’s east–west energy corridor and supply growing electricity demand in Ontario and Quebec. Reopening the pipeline could deliver Western Canadian natural gas to support power generation, industrial growth, and energy security while the province expands nuclear capacity and other long-term energy projects.
Cenovus Energy has filed a facility amendment for its Fisher Field processing facility near Bonnyville that includes adding significant electric compression capacity to support higher gas handling and production throughput. The upgrade aligns with Cenovus’ broader strategy to grow output from Foster Creek, where recent optimization projects have already increased production by about 30,000 barrels per day, with additional efficiency gains expected from a new sulphur recovery project coming online in 2026.
Cenovus Energy has applied for a permit to build a small sweet gas compressor station in the Sinclair field near Grande Prairie, Alberta, designed to handle about 65,000 m³/day of gas and support local gathering infrastructure. The project likely reflects a low-cost strategy to optimize legacy assets acquired from Husky Energy, helping maintain production from mature wells and potentially support nearby Montney development by operators such as Advantage Energy.
Pembina Gas Infrastructure is expanding compression capacity at its Kaybob gas plant as drilling activity in the Duvernay accelerates. A strategic infrastructure partnership with Whitecap Resources and rising well counts across the field are driving increased gas volumes that require additional processing capacity.
Rising tanker attacks near Iraq and Kuwait are disrupting shipping in the Persian Gulf, raising concerns that escalating tensions around the Strait of Hormuz could threaten a key global oil and LNG export corridor.
Louisiana drilling activity remained steady over the last 30 days, with 28 rigs operating across nine parishes, led primarily by Haynesville-focused operators. Apex Natural Gas, Expand Energy, and Aethon Energy continue to dominate the basin’s activity, reinforcing a disciplined development environment centered on consistent execution rather than expansion.
Oklahoma’s drilling story right now is about stability, not surprise. Operators are sticking to their best rock in the Cana Woodford and surrounding Anadarko Basin plays, leaning on preferred contractors and maintaining a steady development cadence.
Diamondback Energy revealed that it has quietly built a large Barnett Shale drilling inventory beneath its Midland Basin acreage and plans to begin scaling development in 2026. At the same time, new midstream infrastructure such as Energy Transfer’s Paloma Compressor Station and a large inventory of undrilled Barnett permits in Ector County indicate the region is preparing for increased gas production from deeper stacked formations.
