Scotiabank

Petrobras is a Brazil-based integrated energy company, primarily controlled by the Brazilian government, that focuses on the exploration and production of oil and gas, particularly in offshore fields. Established in 1953, Petrobras has developed advanced technology to extract resources from deep and ultra-deep waters, where a significant portion of its reserves, amounting to 10.9 billion barrels of oil equivalent, is located. In 2023, the company achieved a production rate of 2.8 million barrels of oil equivalent per day, with oil constituting 80% of this output. Additionally, Petrobras operates ten refineries in Brazil, with a combined capacity of 1.8 million barrels per day, and is involved in the distribution of refined products and natural gas across the country. The company emphasizes socio-environmental responsibility and has been recognized for its sustainability efforts, being listed on the Dow Jones Sustainability Index since 2006. Its Research Center, the largest in Latin America, is dedicated to continuous innovation and improvement in corporate governance and transparency standards.

AltaGas Ltd. is a diversified energy infrastructure company based in Calgary, Canada, operating primarily in North America. The company is structured into three main segments: Utilities, Midstream, and Power. The Utilities segment manages regulated natural gas distribution utilities across several states, serving around 1.7 million customers, and also provides interstate natural gas transportation and storage services. The Midstream segment focuses on natural gas gathering and processing, including natural gas liquids extraction and transportation, with significant operations in the Marcellus/Utica gas formation. This segment serves a diverse range of residential, commercial, and industrial clients. Lastly, the Power segment is involved in electricity generation and marketing, providing energy storage and ancillary services with a total operational capacity of 710 megawatts from various sources, including natural gas and solar. AltaGas aims to leverage its strategic assets to meet the growing demand for natural gas and power in both Canada and the United States.

Parex Resources Inc. (“Parex”), through its direct and indirect subsidiaries, is actively engaged in crude oil exploration, development and production. The Company strives to grow reserves, production, and cash flow in a way that is sustainable for the business, the environment and surrounding communities.

Secure Energy Services offers safe, innovative, and environmentally responsible fluids and solids solutions for the oil and gas sector. The company operates through three main segments: Environmental Waste Management, Energy Infrastructure, and Oilfield Services. Its Environmental Waste Management segment is the primary revenue generator, featuring a network of waste processing facilities, produced water pipelines, industrial landfills, waste transfer operations, and metal recycling services. The Energy Infrastructure segment includes crude oil gathering pipelines and terminals that facilitate the processing, storage, shipping, and marketing of crude oil. Additionally, Secure Energy Services provides water treatment and disposal services to support upstream oil and natural gas companies, ensuring efficient and responsible management of environmental resources.

PineCliff Energy is a Canadian company focused on the exploration and production of natural gas and crude oil, primarily operating within the Western Canadian Sedimentary Basin. The company engages in the acquisition of interests in petroleum and natural gas rights, as well as the exploration, development, and production of these resources. PineCliff collaborates with other entities to enhance its operational efficiency and expand its resource base.

ENTREC is a Canada-based provider of heavy lift and heavy haul services, specializing in crane solutions and transportation. The company serves a diverse range of industries, including oil and natural gas, construction, petrochemical, mining, and power generation. In addition to its core offerings, ENTREC also provides logistics support to enhance its service capabilities. While the company operates primarily in Canada, it also has a presence in the United States, with the majority of its revenue derived from Canadian operations.

Trinidad Drilling Ltd. is a Canadian company that specializes in providing drilling services to the oil and natural gas industry. Established in 1996 and headquartered in Calgary, Trinidad designs, builds, and operates modern drilling rigs primarily for complex wells in Canada, the United States, and internationally. The company operates a fleet of 70 rigs in Canada and 69 rigs in the United States and other international markets. Trinidad's offerings include land drilling services, as well as rig technology and labor services. Additionally, the company is involved in construction and insurance activities. Its operations are divided into Canadian and US/international segments, with a significant portion of revenue generated from oilfield services. Trinidad Drilling is committed to delivering reliable and expertly designed drilling solutions, supported by well-trained personnel.