Tom Pavic, Sayer Energy Advisors

Tom joined Sayer in October 1999 as a financial analyst previously working at Alberta Energy Company Ltd. in its internal audit division. In addition, to his Bachelor of Commerce Degree from the University of Calgary (1998), Tom is also a CFA Charterholder and a member of the CFA Institute. Tom was named an Associate in 2003 and promoted to Vice-President of Sayer in 2005. Tom is integral to Sayer’s corporate advisory and marketing assignments because of his financial background and expertise. Since his start with Sayer, Tom has been involved in over $5 billion worth of oil and natural gas M&A transactions. He also provides analysis on Sayer’s four oil industry publications, ensuring that he is up to date on M&A and financing trends in the Canadian oil and gas industry.

Tom also authors a few articles each year for the Daily Oil Bulletin focusing on current trends in M&A activity. He has been interviewed a number of times in both local and national newspapers as well as on television most notably on the Business News Network and the CBC.

  • Dealer Count Unchanged Even With Higher Amount Of Financings

    May 26, 2021, 6 AM MDT

  • M&A Value Increases To Highest Level Since 2017

    The total enterprise value of merger and acquisition (“M&A”) transactions in the Canadian oil and natural gas industry more than doubled to approximately $20.0 billion in 2020 from $8.0 billion in 2019, a 149 per cent increase.

    March 31, 2021, 7:08 AM MDT

  • Sayer’s Outlook For 2021 M&A Activity

    Every January, Sayer Energy Advisors publishes its forecast for mergers and acquisitions (“M&A”) activity in the Canadian upstream oil and natural gas industry for the upcoming year.

    January 27, 2021, 7:54 AM MST

  • M&A Value Hits Record Low In First Half Of 2020

    In the first half of 2020, the total enterprise value of merger and acquisition (“M&A”) activity in the Canadian oil and natural gas industry plummeted 86 per cent to $748.7 million from $5.3 billion recorded in the first half of 2019.

    October 28, 2020, 6 AM MDT

  • Debt Financings Jump 169% Year-Over-Year

    A total of $6.7 billion in equity and debt was raised by the Canadian oil and natural gas industry in the first six months of 2020, up 145 per cent from the $2.7 billion recorded over the same time period in 2019. Debt financings were up significantly year-over-year while the amount of equity raised declined.

    September 30, 2020, 6 AM MDT

  • Pandemic Leads To Increased Number Of CCAA Processes

    The COVID-19 pandemic has driven a number of both private and publicly-held Canadian oil and natural gas companies into insolvency proceedings.

    June 24, 2020, 9:50 AM MDT

  • Higher Amount Of Debt Financings Drives Dealer Increase In 2019

    A total of $5.4 billion in capital was raised by the Canadian oil and natural gas industry in 2019, up one per cent from the $5.3 billion raised in 2018.

    May 27, 2020, 7:08 AM MDT

  • M&A Value Falls To Lowest Level Since 2003

    The total enterprise value of merger and acquisition (“M&A”) transactions in the Canadian oil and natural gas industry dropped 34 per cent, falling to approximately $8.0 billion in 2019 from the $12.1 billion recorded in the previous year.

    March 25, 2020, 8:31 AM MDT

  • Total Oil & Natural Gas Financings Up Slightly In 2019

    The total amount of capital raised in the Canadian oil and natural gas industry in 2019 slightly increased to $5.36 billion compared to the previous year’s record low of $5.29 billion.

    February 26, 2020, 8:33 AM MST

  • Are Flow-Through Share Financings Heading Toward Extinction?

    The total amount of equity raised through flow-through share equity financings to date in 2019 in the Canadian oil and natural gas industry, as illustrated in the graph below, is approximately $67 million, down 43 per cent from the $118 million completed in 2018 and 74 per cent lower than the $258 million raised in 2016.

    November 27, 2019, 7:48 AM MST

  • Assets For Sale Value More Than Doubles Year Over Year

    The amount of Canadian oil and natural gas assets available for sale currently is more than double the value versus the same time last year.

    October 30, 2019, 6 AM MDT

  • M&A Value In First Half Of 2019 Down 29 Per Cent

    The total enterprise value of merger and acquisition (“M&A”) activity in the Canadian oil and natural gas industry in the first half of 2019 was approximately $5.4 billion, down 29 per cent from the $7.6 billion recorded in the first six months of 2018. This is the lowest first-half total M&A value in the Canadian oil and natural gas industry since 2013 when only $4.3 billion in total M&A value was recorded.

    August 28, 2019, 6:44 AM MDT

  • Banks Adjusting To Redwater Ruling

    Over the last number of weeks we have seen a number of publicly-traded oil and natural gas production companies announcing revised borrowing bases with their respective banks. In the vast majority of cases, borrowing bases for most oil and natural gas companies have been adjusted downward, which is not surprising considering the Supreme Court of Canada ruling on Redwater Energy Corporation.

    June 26, 2019, 6 AM MDT

  • Total Financings Along With Number Of Dealers Crash In 2018

    A total of $5.2 billion in capital was raised by the Canadian oil and natural gas industry in 2018, down 77 per cent from the $22.4 billion raised in 2017.

    May 29, 2019, 6 AM MDT

  • Will Hostile Takeovers Become More Prevalent?

    There have been two recent announcements of unsolicited takeover offers in the Canadian oil and natural gas exploration and production industry, with the most recent being Husky Energy Inc. announcing its intention to acquire MEG Energy Corp.

    October 31, 2018, 7:28 AM MDT

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