July 17, 2015, 11:12 AM MDT
No sector of the economy should be considering the urge to merge more than Canada’s beleaguered oilfield services (OFS) business. The signals are powerful. Overcapacity in virtually every product and service line. Prices down to slimmest of margins. Bankers are unhappy and getting twitchy. Shareholders are morose. OFS operators have to do something because doing nothing is no longer an option.
July 15, 2015, 7:29 AM MDT
Since the beginning of April of this year roughly $1.6 billion in equity has been raised concurrent with merger and acquisition (“M&A”) transactions in the Canadian oil and natural gas industry. This is considerably higher than the $110 million of equity which was raised as part of M&A transactions in the first three months of 2015.
June 24, 2015, 8:24 AM MDT
June 17, 2015, 10:11 AM MDT
So there’s going to be a royalty review. NDP Premier Rachel Notley campaigned on it and the people of Alberta voted for it. This issue is of great concern to Alberta’s beleaguered oilpatch. It is unlikely Alberta’s new, left-of-centre government is reviewing royalties because they believe producers aren’t sufficiently profitable.
June 11, 2015, 7:59 AM MDT
June 8, 2015, 10:17 AM MDT
May 19, 2015, 11:43 AM MDT
Another twist to the current oil price slump is the thesis U.S. shale plays have replaced Saudi Arabia as the world’s swing producer to control oil prices. It is being opined OPEC and the Saudis could be a spent force, and the new determinant of future oil prices will be American shale drillers.
May 13, 2015, 8:05 AM MDT
As oil and natural gas mergers and acquisitions (“M&A”) advisors, we are regularly asked “What impact has the Alberta Energy Regulator’s (“AER”) changes to the Liability Management Rating System (“LMR”) had on M&A activity?”
April 29, 2015, 8:36 AM MDT
April 20, 2015, 9:03 AM MDT
April 20, 2015, 9:12 AM MDT
April 8, 2015, 11:02 AM MDT
April 1, 2015, 9:21 AM MDT
Exploration and production (E&P) companies and the oilfield services sector (OFS) are once again embroiled in the latter half of their historic love/hate relationship. It’s not pretty.
March 11, 2015, 8:11 AM MDT
The rush by dividend-paying Canadian exploration and production companies to cut capital expenditures and in many cases reduce or suspend payouts will continue as weak commodity prices persist, experts say.
March 5, 2015, 8:29 AM MST
March 3, 2015, 11:02 AM MST
The total amount of capital raised in the Canadian oil and natural gas industry in 2014 surged to $24.0 billion, up approximately 50% from 2013’s value of $15.9 billion. This is the highest level since the $25.5 billion record set in 2007.
February 25, 2015, 6 AM MST
February 25, 2015, 11:19 AM MST
February 17, 2015, 10:26 AM MST
What will crude average in 2015? Nobody seems to know. I met the secretary-general of OPEC back in 1991 (Dr. Subroto of Indonesia, 1988 to 1994) who provided me with this trenchant quote: “The only thing certain about oil prices is uncertainty.”
February 11, 2015, 6 AM MST
By now thousands of oilfield service (OFS) owners and managers (yes there are that many!) across the WCSB have realized 2015 is going to be a long and difficult year. As oil companies cut spending they are also demanding price cuts for goods and services. In this market the only thing OFS operators cannot do is nothing.
January 14, 2015, 8:53 AM MST
January 7, 2015, 8:34 AM MST
December 31, 2014, 10:09 AM MST
December 16, 2014, 11:36 AM MST
November 28, 2014, 11:15 AM MST