Canadian Oil & Gas in 2017: Challenges, Solutions, and an Optimistic Outlook

Posted By: Karen Fisman

Last week yielded a blockbuster deal in the Canadian oil patch:  Cenovus Energy announced the acquisition of ConocoPhillips Co.’s oil sands assets for the mega price of C$17.7 billion.  The deal arrived on the heels of Canadian Natural Resources Ltd.’s C$11.1 billion acquisition of oil sands assets from Royal Dutch Shell Plc, and reflects the ongoing oil sands consolidation by major Canadian companies.

This activity is consistent with findings in a recent Mergermarkets/Tory’s report relating to expectations for the Canadian Oil and Gas sector in 2017.  Respondents to the survey were optimistic about deal activity for the current year, with 67% expressing a belief that volume would increase. We discuss the challenges likely to drive 2017 M&A in our full article...

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