November 24, 2020, 8:14 AM MST
During the Petroleum Services Association of Canada’s (PSAC) ’s 2021 Canadian OFS activity forecast event, John Gibson, oil and gas services analyst for BMO Nesbitt Burns, said consolidation in the Canadian market has largely already occurred, and better-positioned OFS firms would prefer to let attrition run its course rather than consolidating competitors in an oversupplied market.
November 23, 2020, 11:01 AM MST
Cenovus Energy Inc. and Husky Energy Inc. have named the executive leadership team that is expected to lead the combined company.
November 20, 2020, 7:06 AM MST
Osum Oil Sands Corp. says a bid from Waterous Energy Fund (WEF) is “inadequate” and not in the best interest of the company or its shareholders.
November 19, 2020, 2:27 PM MST
Peyto Exploration & Development Corp. says the recent spate of merger and acquisition (M&A) activity in Western Canada and elsewhere in North America doesn’t come as a surprise given the prolonged weak industry conditions.
November 12, 2020, 1:59 PM MST
While there have been periods in recent years where experts predicted a wave of merger and acquisition activity would take hold because of volatile industry conditions, it’s rarely played out that way in reality.
November 10, 2020, 8:53 AM MST
Given the spate of mergers and acquisitions (M&A) in Canada and the U.S., an ARC Resources Ltd. executive says the company is examining the deal market, but so far it has not found the right opportunity.
November 6, 2020, 9:27 AM MST
Pembina Pipeline Corporation generally benefits from upstream consolidations such as Tourmaline Oil Corp.’s recent-announced acquisition of Jupiter Resources Ltd. and Modern Resources Inc., says Pembina’s top brass.
November 6, 2020, 10:38 AM MST
Given Tourmaline Oil Corp.’s Deep Basin acquisitions on Wednesday, that complex will see more net capital investment, but the Montney will remain the main target for growth.
November 5, 2020, 10:27 AM MST
Canadian upstream activity sprung to life in Q3 with a series of deals agreed involving ConocoPhillips, Canadian Natural Resources Limited and Whitecap Resources Inc., based on Evaluate Energy’s latest M&A report, available here.
November 5, 2020, 6 AM MST
Given the recent surge in North American merger and acquisition (M&A) activity including the blockbuster merger between Cenovus Energy Inc. and Husky Energy Inc., Canadian Natural Resource Limited’s top official believes it’s a trend that’s set to continue.
November 5, 2020, 11:47 AM MST
Consolidation certainly seems to be coming to the oilfield drilling market, says Bob Geddes, president and chief operating officer, Ensign Energy Services Inc., although he is not purview to any related rumours at this moment.
November 5, 2020, 2:46 PM MST
Jupiter Resources Ltd. this afternoon announced a transaction to sell to Tourmaline Oil Corp. in an all-stock transaction valued at approximately $626 million, inclusive of debt.
November 4, 2020, 3:12 PM MST
It was a busy day on the corporate acquisition front as Tourmaline Oil Corp. not only acquired private gas producer Jupiter Resources Inc., but it also picked up Modern Resources Inc. in smaller transaction, loading up on Deep Basin assets.
November 4, 2020, 3:48 PM MST
November 4, 2020, 8:06 AM MST
Weak demand related to COVID-19 is hurting company finances and resulted in a series of U.S. upstream deals much more akin to friendly mergers than aggressive takeovers.
November 3, 2020, 7:59 AM MST
November 3, 2020, 7:51 AM MST
Bonterra Energy Corp. has received approval from its syndicate of lenders for the Export Development Canada (EDC) and Business Development Bank of Canada (BDC) programs and to extend the revolving period applicable to its credit facility to Nov. 13, 2020 from Oct. 30.
November 2, 2020, 6:34 AM MST
Suncor Energy Inc.’s CEO Mark Little says that although merger and acquisition (M&A) activity is “starting to take off” the company will continue to “remain steadfast” in following its three criteria that must exist before any deals will be considered.
October 29, 2020, 10:44 AM MDT
The transaction to combine Cenovus Energy Inc. and Husky Energy Inc. and create a new integrated Canadian oil and natural gas company will, in part, provide more options to take molecules to market and optimize their value, says Jon McKenzie, executive vice-president and chief financial officer at Cenovus.
October 29, 2020, 1:25 PM MDT
In Q3 2020, Cenovus Energy Inc. increased its oilsands production and overall sales in response to higher prices, while also maintaining a low operating and capital cost structure and deleveraging the balance sheet.
October 29, 2020, 11:04 AM MDT
A need to lower the cost base for industry has been the “big driver” for Husky Energy Inc.’s recent moves on the M&A front, says the company’s chief executive.
October 29, 2020, 11:33 AM MDT
After a few years of being in divestiture mode to shore up its balance sheet, Crescent Point Energy Corp. has “certainly been paying attention” to the recent spate of M&A activity on both sides of the border, says the company’s chief executive.
October 29, 2020, 7:57 PM MDT
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
Toscana Energy Income Corporation received a final order from the Court of Queen's Bench of Alberta approving the acquisition of Toscana by i3 Energy plc.
October 28, 2020, 3:44 PM MDT