Mergers and Acquisitions:

• Computer Modelling Group Ltd. (TSX:CMG) has acquired Sharp Reflections GmbH, a Norway based seismic processing and interpretation platform provider for €25.0MM (~$37.0MM) in cash, plus Sharp’s pre-closing cash balance. The transaction was funded from CMG’s existing cash reserves.

• E&P: Ovintiv (TSX:OVV) will acquire Paramount Resources’ (TSX:POU) Montney assets for $2.38B, adding 70,000 boepd and 900 net wells, while selling its Uinta Basin assets for $2MM. Both deals, closing in early 2025, are expected to boost free cash flow by $300MM. Ovintiv will fund the purchase with Uinta sale proceeds, cash, and borrowings, pausing share buybacks until Q2 2025.

• Tourmaline Oil Corp. (TSX:TOU) will acquire Todd Energy Canada Limited an energy producer and provider, for approximately 300MM in a mix of cash and shares, including Todd’s net debt. The deal is expected to close in early December 2024, pending regulatory approvals.

Financing:

• NXT Energy Solutions (TSX:SFD) completed its final tranche of a $900,000 private placement with Ataraxia Capital through convertible debentures. The funds will support SFD surveys and business activities in Africa and Southeast Asia, with the debentures offering potential conversion into common shares.

• Gibson Energy Inc. (TSX:GEI)) has closed its $350MM offering of 4.45 per cent senior unsecured notes due November 12, 2031. Proceeds, along with cash on hand, were used to redeem its $350MM 5.80 per cent medium-term notes due July 2026 at par plus accrued interest.