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25.09.26 - 21:42
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Canada′s Oil Patch On Track For Biggest M&A Wave In A Decade (ZeroHedge)
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Canada's Oil Patch On Track For Biggest M&A Wave In A Decade
Authored by Alex Kimani via OilPrice.com,
Nearly a decade ago, the Canadian Oil Patch recorded a major asset sale and consolidation wave as oil majors exited the oil sands in favor of higher margins in U.S. shale oil as well as environmental concerns amid the ESG investing craze.
To wit, Shell Plc (NYSE:SHEL) sold the majority of its oil sands interests to Canadian Natural Resources Ltd. (NYSE:CNQ) in 2017 a transaction valued at roughly $11.1 billion CAD ($8.5 billion USD), while Cenovus Energy (NYSE:CVE) acquired most of ConocoPhillips' (NYSE:COP) Canadian assets for C$17.7 billion (approximately US$13.2 billion). And now a similar dynamic is unfolding across Canada's energy sector: Canada's oil patch has recorded over $30 billion in mergers and acquisitions so far in the current year, with Wall Street projecting that this year's final tally will surpass the $53 billion recorded in 2017. However, this year's M&A wave is funda...
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14.09.26 - 22:36
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Where Will Cenovus Stock Be in the Next 3 Years? (Fool)
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With energy prices boosting Cenovus's cash flow, here's how the company is benefiting and positioning itself for the future.
The post Where Will Cenovus Stock Be in the Next 3 Years? appeared first on The Motley Fool Canada....
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