Mergers & Acquisitions:

• Whitewater Management, a Calgary-based fluid management company, has acquired Texas-based Orion Water Solutions, enhancing its wastewater treatment capabilities and expanding growth opportunities for its production chemical division, Catalyst Production Services.

• Tidewater Midstream (TSX:TWM) has agreed to sell its Brazeau River Complex roadway network to Canadian Resource Roadways LP for $24MM. The asset is considered a non-core asset and the proceeds will primarily be used to reduce debt.

• E&P: Whitecap Resources (TSX:WCP) and Veren Inc. (TSX:VRN) are merging in a $15B all-share deal to create a leading light oil and condensate producer with major holdings in the Alberta Montney and Duvernay. The combined company will operate under Whitecap’s name and the deal is expected to close by May 30, 2025.

Other:

• Parkland Corp. (TSX:PKI), a Calgary based fuel refiner and retailer, has launched a strategic review to explore asset divestments, acquisitions, and business combinations to maximize shareholder value.

• OPEC+ will raise output for the first time since 2022, unwinding 2.2MM bpd of cuts over 18 months starting in April.

• Statistics Canada reported that Canada’s economy added just 1,100 jobs in February, a sharp drop from January’s 76,000 gain. Despite the slowdown, the unemployment rate remained steady at 6.6 per cent as population growth hit its lowest pace since April 2022.

• The federal government announced a 25 per cent levy on $30B worth of U.S. imports in response to the U.S. implementing 25 per cent tariffs on Canadian imports and 10 per cent tariffs on Canadian oil and gas.