CanOils Data: Montney Deals Announced In 2021
Source: CanOils M&A database.
Tourmaline Oil Corp. and Topaz Energy Corp. were involved in the latest Montney deals of 2021 this week, following on from PETRONAS upping its stake in the North Montney Joint Venture by 10 per cent last week.
CanOils data shows that it has been a very busy M&A year in the Montney so far.
The Montney has now seen a greater deal value in 2021 already than the past three years combined, noted Eoin Coyne, senior M&A analyst at CanOils, citing its M&A data.
While this is mainly thanks to the $4.7 billion merger between ARC Resources Ltd.-Seven Generations Energy Ltd., Coyne points out that 2021 is still seeing a significant jump in deal values for the formation.
“The $500 million in new deals announced by Tourmaline and Topaz this week takes Montney totals for 2021 to just over $1.1 billion overall, excluding ARC-Seven Generations, in just over five months. 2019 and 2020 only saw around $800 million and $1.1 billion over the entire 12 months, respectively.”
Note: this article and table has been updated from an earlier version. PETRONAS Canada upped its stake in the North Montney Joint Venture, not in JAPEX Montney, as had been previously reported.