Mergers & Acquisitions:

• E&P: Vermilion Energy Inc. (TSX:VET) closed the acquisition of Westbrick Energy Ltd. previously announced in Dec. 2024. The acquisition adds annual production of 50,000 boe/d and 1.1MM acres of land in the southeast portion of the Deep Basin trend in Alberta. The acquisition also includes four operated gas plants with total capacity of 102 mmcf/d.

Other:

• The Saskatchewan government announced that effective Feb. 25, 2025, all pipeline permits received in Saskatchewan will be considered pre-approved. The move is aimed to address the current tariff threats against Canada and to reduce environmental burdens on Canadian energy infrastructure providers.

• Advantage Energy Ltd. (TSX:AAV) formed a special committee to review strategic opportunities in the best interests of the company and its shareholders in 2025.

• Petronas aims to have first LNG shipments from LNG Canada to happen in July 2025.

• US President Donald Trump urged for Keystone XL Pipeline to be built last week, pledging easy regulatory approvals and an almost immediate start.

• Royal Helium Ltd., Imperial Helium Corp., and Royal Helium Exploration Limited (collectively Royal) were granted an initial order by the Court of King’s Bench of Alberta under CCAA. The Court also approved a SISP to solicit interest for the assets and business operations on Feb. 19, 2025. Alvarez & Marsal Canada Inc. was appointed Monitor.