While Cenovus Energy Inc. management has offered few details on the progress being made on the company’s asset divestiture efforts, CEO Alex Pourbaix says that shouldn’t be misconstrued as inaction and the company is continuing the process of investigating potential opportunities behind closed doors.
May 10, 2021, 2:28 PM MDT
May 10, 2021, 10:57 AM MDT
Cenovus Energy Inc. says it is in the process of reassessing the acquired Husky Energy Inc. assets for “synergies above and beyond the company’s original $1.2 billion target,” the company’s top executive told analysts on a Q1 conference call this morning.
May 7, 2021, 11:49 AM MDT
Obsidian Energy Ltd. has formally closed its previously announced strategic alternatives process, considering the successful completion of the syndicated credit facility and senior notes maturity extension to November 2022 and its stronger operational and improved financial position.
May 7, 2021, 7:38 AM MDT
Despite a continued strong pricing environment and continued progress on some egress projects, Canadian Natural Resources Limited’s top executive says the company expects to continue to focus its capital program on maintenance versus growth.
May 6, 2021, 11:48 AM MDT
Tamarack Valley Energy Ltd. may spud a well next week at its Charlie Lake asset, which it is acquiring from Anegada Oil Corp.
May 5, 2021, 9:32 AM MDT
May 5, 2021, 8:21 AM MDT
May 5, 2021, 11:21 AM MDT
Osum Oil Sands Corp. shareholders voted to approve the amalgamation of Osum and WEF Osum Acquisition Corp. (WOAC), an entity wholly-owned by Waterous Energy Fund (WEF).
May 3, 2021, 4:08 AM MDT
Whitecap Resources Inc. enjoyed improved financial and operational results, and record production, for Q1 2021 says top brass, as operational execution and seamless integration of recent acquisitions continued to drive performance.
April 29, 2021, 11:17 AM MDT
Evaluate Energy’s latest report shows that global upstream M&A deal spending totalled $19 billion during Q1. Deal counts show an uptick on activity that reflect increased sector confidence and renewed appetite to consolidate/update portfolios as we emerge from the global COVID-19 lockdown.
April 29, 2021, 6 AM MDT
Tamarack Valley Energy Ltd. has received written consents from shareholders holding a majority of the issued and outstanding common shares of Tamarack approving the company's previously announced acquisition of Anegada Oil Corp.
April 29, 2021, 12 AM MDT
In an April 2020 article written by Sayer Energy Advisors the question was posed: “Will We See an Increase in Consolidation in 2020?” Although it would have been impossible to know the full implications of the COVID-19 pandemic, our predictions at that time did take into consideration the fact that there would be some consolidation spurred on by the pandemic.
April 28, 2021, 6 AM MDT
Secure Energy Services Inc. is continuing to work toward closing its merger with Tervita Corporation, which is expected to happen during the third quarter of 2021.
April 28, 2021, 7:03 AM MDT
April 28, 2021, 10:51 AM MDT
PDC Energy Inc.’s $1.7 billion acquisition of SRC Energy Inc. was the single-most ‘transformational’ deal last year for any oil, liquids or oilsands portfolio in North America, based on new data from Evaluate Energy.
April 27, 2021, 7:26 AM MDT
Mullen Group Ltd. secured two acquisitions wins to kick off the year despite another quarter filled with disrupted supply chains and mandated closures related to COVID-19.
April 23, 2021, 12 AM MDT
Mullen Group Ltd. has acquired the Bandstra Group of Companies, including Bandstra Transportation Systems Ltd. and Babine Truck & Equipment Ltd.
April 16, 2021, 6 PM MDT
Tamarack Valley Energy Ltd. is acquiring Anegada Oil Corp., a privately held pure play Charlie Lake light-oil producer, for total net consideration of $494 million, after deducting the proceeds from the sale of a two per cent newly created gross overriding royalty (GORR) on the acquired assets.
April 12, 2021, 5:41 AM MDT
Tamarack Valley Energy Ltd. will look for further opportunities to consolidate Charlie Lake assets, following the acquisition of Anegada Oil Corp. that was announced this morning.
April 12, 2021, 10:28 AM MDT
Kelowna-based Vorsana Environmental Inc., a clean technology company focused on improving the environmental performance of the fossil fuel and industrial sectors, has purchased Calgary-based NanosTech, which has developed a field-based bitumen upgrading technology that can reduce CO2 emissions by 35 per cent and more, while leading to significant cost reductions for producers.
April 12, 2021, 6 AM MDT
Hillcrest Petroleum Ltd. has rebranded itself as Hillcrest Energy Technologies, Ltd., choosing an identity more representative of the company’s dedication to transitioning from fossil fuel production to cleantech innovation and IP development.
April 9, 2021, 6:10 AM MDT
A material increase in counterparty credit exposure is one benefit for midstream companies from consolidation in the upstream oil and gas space, says James Harbilas, executive vice-president and chief financial officer, AltaGas Ltd.
April 8, 2021, 6:23 AM MDT
Despite a recent strong uptick in merger and acquisition (M&A) activity, neither Peyto Exploration & Development Corp. nor Birchcliff Energy Ltd. are currently looking to enter the fray in a big way, the 2021 Scotiabank-Canadian Association of Petroleum Producers (CAPP) Energy Symposium heard Wednesday.
April 8, 2021, 10:21 AM MDT
Conventional oil operators are laser focused on returns on capital employed and increasing free cash flow as the COVID-19 pandemic recedes and commodity prices stabilize, three sector leaders told the Scotiabank-Canadian Association of Petroleum Producers (CAPP) Energy Symposium this week.
April 8, 2021, 9:19 AM MDT