Energy & Utilities · Week of Oct 26, 2026
Debt cuts and deals dominate: the week in energy releases
Ovintiv buys Logan Energy, PowerBank and Soluna cut debt, Elementl lines up nuclear funding, and Borr Drilling updates on a rig incident off Gabon.
Deals and balance sheets drove the week's energy releases. Ovintiv agreed to acquire Montney oil producer Logan Energy Corp. for total consideration of approximately $890 million. PowerBank Corporation and Soluna Holdings both reported debt reductions, through a refinancing and a full loan repayment respectively. Elementl Power signed a preliminary agreement with DS Investment Partners and Samsung C&T on a proposed partnership of up to $750 million for U.S. nuclear projects.
Elsewhere, Avanti Helium reported construction progress at its Sweetgrass project, which it tied to a U.S. Department of Energy designation of helium as a critical material. Borr Drilling gave an update on an incident involving its Prospector 5 rig offshore Gabon. PG&E issued energy-saving guidance for customers, and Entergy set the date for its third-quarter results.
Ovintiv Inc.
Ovintiv Announces Agreement to Acquire Montney Oil Producer, Logan Energy Corp.
Ovintiv says it has agreed to acquire Logan Energy Corp. for C$1.40 per share in cash, for total consideration of approximately $890 million. The company says the Montney deal adds oil growth optionality and drilling inventory.
Avanti Helium Corp.
Avanti Helium Reports Significant Construction Progress At Sweetgrass Project As U.S. Government Designates Helium A Critical Material
Avanti Helium says civil construction at its Sweetgrass project is substantially complete, processing building construction is underway and helium recovery equipment is mobilizing to site. The company says the U.S. Department of Energy's designation of helium as a critical material reinforces the importance of new domestic production.
PowerBank Corporation
PowerBank Strengthens Balance Sheet and Solar Portfolio with 14% Reduction in Project Debt with Completion of CA$25.4M Refinancing
PowerBank says it completed a CA$25.4M refinancing across 53 operating solar projects, cutting project debt by 14% and consolidating 50 credit agreements into one facility with a major Canadian bank. The company expects the refinancing to release approximately CA$5.0 million in net cash and to lower scheduled debt payments, banking fees and administrative costs.
Soluna Holdings, Inc.
Soluna Completes Full Repayment of Generate Capital Debt
Soluna Holdings, a developer of green data centers for AI and Bitcoin mining, says it has fully repaid its Generate Capital debt. The company says it has cut total debt principal by 76% since June 30, 2026.
Pacific Gas and Electric Company
Preventing Phantom Power from Taking a Bite out of Your Budget This National Clean Energy Month
PG&E says it is encouraging customers to take simple steps to reduce phantom power use from so-called vampire appliances as cooler weather approaches. The utility tied the guidance to National Clean Energy Month.
Entergy Corporation
Entergy to report third quarter 2026 financial results on Nov. 2
Entergy says it will report third quarter 2026 financial results before the market opens on Monday, Nov. 2. Chair and chief executive officer Drew Marsh and chief financial officer Kimberly Fontan will host the call.
Borr Drilling Limited
Borr Drilling Limited - Prospector 5 Rig Incident Update
Borr Drilling says that of the 115 personnel on board the Prospector 5 rig offshore Gabon, 110 are safe and accounted for. The company first announced the incident on October 25, 2026.
Elementl Power Inc.
ELEMENTL POWER, DS INVESTMENT PARTNERS AND SAMSUNG C&T TO ADVANCE NEW U.S. NUCLEAR DEVELOPMENT
Elementl Power says it has signed a preliminary agreement with DS Investment Partners and Samsung C&T on a proposed partnership of up to $750 million. The company says the funding would help develop multiple Elementl nuclear projects in the U.S.
This roundup is written with AI assistance from the press releases listed above, using only what they state. The releases are the companies' own announcements, not The Digest Lab reporting.