Financing:

• Gibson Energy Inc. (TSXGEI) announced the issuance of $350MM in 4.45 per cent senior unsecured notes due on November 12, 2031. Expected to close on November 12, 2024, the proceeds from this private placement, along with cash on hand, will be used to redeem Gibson’s 5.80 per cent medium-term notes due July 2026 at par.

Other

• The Energy Information Administration (EIA) reported U.S. oil production hit a record 13.4MM bpd in August, driven by record output in Texas (5.82MM bpd) and New Mexico (2.09MM bpd). Gross natural gas production in the Lower 48 dipped slightly to 115.9 bcfd, with Texas reaching a new high of 36.1 bcfd, while Pennsylvania fell to 20.0 bcfd.

• Rubellite Energy Inc. (TSX:RBY) and Perpetual Energy Inc. (TSX:PMT) have secured shareholder approval to proceed with their strategic recombination under the Business Corporations Act (Alberta). At Rubellite’s special meeting, 99.9% of total votes and 99.8% of minority votes supported the Recombination, while Perpetual’s meeting saw 99.5% total and 98.7% minority approval.

• Alberta is challenging Ottawa’s carbon tax exemption for home heating oil in federal court, calling it unconstitutional. Alberta’s conservative government filed the case amid rising criticism of the tax, ahead of an upcoming election.