Prime Minister Mark Carney says a new agreement with the Alberta government aims to unlock the province’s energy resource potential, and diversify exports, reducing the country’s reliance on the U.S.

First Nations will be assured a “significant” owner equity stake in any new bitumen pipeline from Alberta to the northwest coast of British Columbia, says Alberta Premier Danielle Smith.  

B.C. Premier David Eby said a bitumen pipeline to British Columbia’s northwest coast, part of a memorandum of understanding (MOU) signed on Thursday by Alberta Premier Danielle Smith and Prime Minister Mark Carney, must not turn into “an energy vampire,” and distract from established projects.

After a decade of malaise, money is returning to Canada’s upstream oil and gas sector, but more certainty is needed downstream on egress to maintain the momentum, BMO Capital Markets’ Randy Ollenberger said at Enserva’s State of the Industry event in Calgary.

Although Gran Tierra Energy Inc. has always been based in Calgary, it was an international player, operating mainly in Colombia and more recently, Ecuador.

Operators drilled 4,899 wells in Canada to the end of October, down five per cent from 5,170 wells rig released in the January-to-October period a year ago.

Independent oil producers in the U.S. are keeping a tight rein on activity and capital spending as they await more clarity on the direction of oil prices in 2026 and beyond. Despite market uncertainty, however, U.S. oil and liquids production continues to grow.

Drilling rig activity in Western Canada and the Top 10 active operators as of Nov. 28, 2025, as reported this morning by Rig Locator.

The Alberta government’s resource revenue is forecast at $15.4 billion for 2025-26, down $1.7 billion from Budget 2025 and $240 million lower than the first quarter forecast.

For 20 years, the Hartland Landfill on Vancouver Island had a powerplant on-site to combust methane and create electricity, which it sold to BC Hydro.

During the third quarter, the expanded Trans Mountain system had a record average daily throughput of 777,000 bbls/d including 444,000 bbls/d delivered to Westridge Marine Terminal, 101,000 bbls to B.C. delivery points and 232,000 bbls delivered to Washington state on the Puget Sound Pipeline.

The B.C government is being advised by the authors of the CleanBC independent review it commissioned to expand its current net zero environmental assessment trigger for new industry projects to apply to upstream gas production and pipelines.

Freehold Royalties Ltd. announced the departure of Robert King, chief operating officer.