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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.

  • M&A Value Up 50% In First Six Months Of 2023

    The total enterprise value of merger and acquisition (“M&A”) activity in the Canadian oil and natural gas industry in the first half of 2023 was $7.8 billion, up 50 per cent from the $5.2 billion recorded in the first six months of 2022.

    October 25, 2023, 6 AM MDT

  • Total Debt Financings Up Significantly In The First Half Of 2023

    A total of $5.2 billion in equity and debt was raised by the Canadian oil and natural gas industry in the first six months of 2023, up 191 per cent from the $1.8 billion recorded over the same time period in 2022. Debt financings were up significantly year-over-year while the total amount of equity raised declined.

    September 27, 2023, 6 AM MDT

  • Number Of Dealers Down Significantly In 2022

    A total of $2.7 billion in capital was raised by the Canadian oil and natural gas industry in 2022, down significantly from the $10.8 billion raised in 2021.

    May 31, 2023, 6 AM MDT

  • Private Companies Emerging As Active Buyers

    Recently, we have seen a number of privately-held oil and natural gas companies emerge as active buyers of oil and natural gas assets.

    April 26, 2023, 6 AM MDT

  • M&A Value Down 15 Per Cent Year-Over-Year

    The total enterprise value of merger and acquisition (“M&A”) transactions in the Canadian oil and natural gas industry dropped 15 per cent in 2022 to $15.5 billion, from $18.1 billion 2021.

    March 29, 2023, 6 AM MDT

  • Total Oil & Natural Gas Financings Hit A Record Low In 2022

    The total amount of capital raised in the Canadian oil and natural gas industry in 2022 decreased 75 per cent to $2.7 billion from the $10.8 billion recorded in 2021.

    February 22, 2023, 6 AM MST

  • Sayer’s Outlook For 2023 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 25, 2023, 6 AM MST

  • M&A Value In First Half Of 2022 Plummets Year-Over-Year

    The total enterprise value of merger and acquisition (“M&A”) activity in the Canadian oil and natural gas industry in the first half of 2022 was $5.2 billion, down 53 per cent from the $11.1 billion recorded in the first six months of 2021.

    October 26, 2022, 6 AM MDT

  • Total Financings At Lowest Level Since 2000

    A total of $1.8 billion of capital was raised by the Canadian oil and natural gas industry in the first six months of 2022, down 69 per cent from the $5.7 billion recorded over the same time period in 2021.

    September 28, 2022, 6 AM MDT

  • Canadian Bank-Owned Firms Dominate Financings In 2021

    A total of $10.8 billion in capital was raised by the Canadian oil and natural gas industry in 2021, down slightly from the $10.9 billion raised in 2020.

    May 25, 2022, 6 AM MDT

  • Is The SpinCo Returning?

    A recent trend we have witnessed in the Canadian oil and natural gas industry is the return of the SpinCo structure as part of a transaction involving the sale of all of the issued and outstanding shares of an oil and natural gas company.

    April 27, 2022, 6 AM MDT

  • Total Equity Financings More Than Double In 2021

    The total amount of capital raised in the Canadian oil and natural gas industry in 2021 decreased slightly to $10.8 billion from $10.9 billion in 2020.

    February 23, 2022, 6 AM MST

  • Sayer’s Outlook For 2022 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 26, 2022, 6:31 AM MST

  • M&A Value In First Half Of 2021 Skyrockets Year-Over-Year

    The total enterprise value of merger and acquisition (“M&A”) activity in the Canadian oil and natural gas industry for the first half of 2021 was approximately $11.1 billion, up 1,369% from the $754.8 million recorded in the first six months of 2020.

    October 27, 2021, 6 AM MDT

  • Equity Financings Up 135% Year Over Year

    A total of $5.5 billion in equity and debt was raised in the Canadian oil and natural gas industry in the first six months of 2021, down 19 per cent from the $6.8 billion over the same time period in 2020. Equity financings were up significantly year-over-year while the amount of debt raised declined.

    September 29, 2021, 6 AM MDT

  • 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

Analysis

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