How Did the Oil & Gas Majors Perform in Early 2015?

Posted by Mark Young

Aug 18, 2015 5:05:04 AM

As Q2 results continue to flood in, Evaluate Energy has reviewed the performance of the world’s oil and gas majors – BP, Chevron, ConocoPhillips, ExxonMobil, Royal Dutch Shell and Total – to gauge the impact of the price collapse of late 2014  on their respective starts to 2015, with the main focus on their upstream earnings, production and capital expenditures.

Earnings Down, Production Slightly Up

Predictably, in terms of unadjusted earnings (see note 1) in the upstream sector, the start to 2015 has not been the six month period the majors will have hoped for. The fall in prices saw all six companies report lower quarterly earnings in Q1 and Q2 than their respective average quarterly earnings from 2014, with half of the group recording upstream losses in Q2; BP’s Q2 earnings were impacted by a loss of over $10 billion related to the Gulf of Mexico spill response, whilst Chevron – remarkably recording its first unadjusted upstream quarterly loss in since Q4 2001 – and ConocoPhillips both suffered impairment charges to account for their own upstream losses in Q2.

Production was a different story, however, with all companies apart from Shell averaging a slightly higher rate over the first six months of 2015 compared with the full year 2014.


All companies did record a slightly lower average production rate in Q2 2015 compared to Q1 2015, but, with Shell’s acquisition of BG in the pipeline, all the majors are looking at the prospect of higher production than they had in 2014 as we enter the latter half of the year.

Capital Expenditure Cuts

E&P capital expenditure budgets were the first thing that many companies adjusted when faced with the prospect of prolonged lower commodity prices – but the majors did not cut as drastically as everybody else.

In a quick study of 60 U.S. listed companies (see note 2) that cut upstream capex spends in Q1 2015 compared with the average spend per quarter in 2014, the average cut was around 33%, with some companies slashing upstream capex by nearly 80% compared to last year’s average quarterly spend. In contrast, Total bucked the trend and spent more in Q1 compared to 2014’s quarterly average, whilst the other 5 majors average only a 20% cut between them. Moving into Q2, 53 of the 60 U.S. companies continued to drop capex spends from Q1 levels at an average of 32%. As for the majors, ConocoPhillips – the only company of the 6 not to have a refining sector to bolster its overall earnings by taking advantage of lower raw material costs – was the only one that continued to significantly drop its spending, whilst BP, Chevron, ExxonMobil and Shell all maintained Q1 levels and Total dropped spending from its high Q1 outlay. For Total, this means its 2015 average quarterly spend is now back in line with average 2014 levels. 


Of course, it’s not easy to pull the plug on large-scale projects, which tend to be the domain of the majors, and capital will be committed to them regardless of price movement. While this dynamic will have played some role in the majors not cutting their spending as much as smaller companies, the apparent lack in reaction by the majors compared to the rest of the industry does stand out.

However, should commodity prices continue to drop or fail to rebound any time soon, it wouldn’t be the greatest of surprises to eventually see the majors cut their spending more deeply.

All data here is taken from the Evaluate Energy database, which provides Evaluate Energy subscribers with over 25 years' coverage of the world's biggest and most significant oil and gas companies. Evaluate Energy also has a mergers & acquisitions database, covering all E&P asset, corporate and farm-in deals back to 2008, as well as refinery, LNG, midstream and oil service sector deals. For more on Evaluate Energy and its products, please download our brochure.

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1) The term “unadjusted earnings” used throughout refers to income including the impact of non-recurring items, such as impairments, legal or restructuring charges, as well as gains or losses on asset sales. Apart from BP, all majors report this item for the upstream segment on a post-tax basis. BP reports this item on a pre-tax basis.

2) The 60 U.S. listed companies that dropped capex in Q1 2015 compared to average 2014: Abraxas Petroleum Corp., Anadarko Petroleum Corp., Antero Resources Corp., Apache Corp., Approach Resources Inc., Atlas Resource Partners L.P., Bill Barrett Corp., Bonanza Creek Energy Inc., Breitburn Energy Partners L.P., Cabot Oil & Gas Corp., California Resources Corp., Callon Petroleum Co., Carrizo Oil & Gas Inc., Chesapeake Energy Corp., Cimarex Energy Co., Clayton Williams Energy Inc., Comstock Resources Inc., CONSOL Energy Inc., Denbury Resources Inc., Devon Energy Corp., Diamondback Energy Inc., Emerald Oil Inc., Enerplus Corp., EOG Resources Inc., EP Energy Corp., EV Energy Partners L.P., Freeport-McMoRan Inc., Goodrich Petroleum Corp., Gulfport Energy Corp., Halcon Resources Corp., Hess Corp., Laredo Petroleum Inc., Linn Energy LLC., LRR Energy L.P., Marathon Oil Corp., Matador Resources Co., Memorial Production Partners L.P., Murphy Oil Corp., Noble Energy Inc., Northern Oil & Gas Inc., Oasis Petroleum Inc., Parsley Energy Inc., Penn Virginia Corp., PetroQuest Energy Inc., Pioneer Natural Resources Co., QEP Resources Inc., Rex Energy Corp., Rice Energy Inc., Rosetta Resources Inc., RSP Permian Inc., Sanchez Energy Corp., SandRidge Energy Inc., SM Energy Co., Southwestern Energy Co., Stone Energy Corp., Swift Energy Co., Ultra Petroleum Corp., Unit Corp., W & T Offshore Inc., Warren Resources Inc.

3) Upstream capex in this study excludes the impact of any asset dispositions.

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Do You Spend Hours Downloading Oil and Gas Company Reports?

Posted by Mark Young

Jul 15, 2015 7:09:00 AM

1000s of Canadian Oil & Gas Company Reports at Your Fingertips

As part of CanOils’ continued lead in oil and gas company financial and operating analysis solutions, we are pleased to announce an upgrade that adds Canadian company quarterly, annual and reserve reports to our Documents product, a simple web-based platform that CanOils subscribers can use to download all the reports they need in a matter of minutes.

Find out more by requesting a demo of CanOils Documents here.

The Upgraded Service

In addition to the 1000s of corporate presentations that CanOils has collected, stored and made available since 2008, we have now added 1000s of new reports to our offering.   

New Additions to CanOils Documents:

  •   Quarterly & Annual Financial Statements
  •   Management Discussion & Analysis Reports
  •   Annual Reports (includes 10-Ks/40-Fs for dual-listed SEC reporting companies)
  •   Annual Information Forms (AIFs and NI 51-101s)
  •   Reserve Reports
  •   Supplemental Quarterly & Annual Filings

These have been cleaned, catalogued and backdated for all TSX and TSX-V listed companies in the CanOils coverage portfolio and all future reports will be available within 1 working day of release.

Fully Automatable

As an additional service, document capture from CanOils can be fully automated and integrated into user workflow, meaning CanOils is able to feed company results directly to the people who need them, creating actionable opportunities and saving hours of valuable time.

Get in Touch

If you would like further information on either the CanOils Documents product or the automation service, or if you would simply like one of our support team to walk you through the product, simply contact your local representative on the number below or complete a demo request here and we'll take care of the rest.

David Swanson (Western Canada & USA)
+1 (403) 269 6003

Gareth Hector (Eastern Canada & USA, ROW)
+44 (0)20 7247 6120 

Request a Demo of CanOils Documents




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Canadian Oil & Gas Companies Raise More Funds in H1 2015 than H2 2014

Posted by Nikki Zenonos

Jul 3, 2015 12:22:00 PM

Deal Values Recover After a Lacklustre End to 2014, But Deal Count Falls

A total of $10.5 billion was raised by publicly-quoted upstream Canadian oil and gas companies during the first half of 2015, a significant rebound from a low $8.2 billion total in the second half of 2014 and almost in line with the $11.4 billion total in the first half of 2014 - suggesting that the global price crash had little sustained impact on the bigger Canadian companies' ability to raise funds. However, according to new analysis by CanOils, even though total deal value increased in the six month period, the number of deals – 108 deals were completed in H1 2015 by TSX and TSX-V listed companies – actually represents a 33% reduction compared to H1 2014. CanOils tracks all equity and debt financings raised by TSX and TSX-V companies. 


Source: CanOils Financings Database

TSX Companies Have Easy Access to Capital

The effect of the crash in oil price at the end of 2014 seemed to be short-lived for TSX-listed companies in terms of access to capital markets, with $10 billion raised during H1 2015. This is back up at H1 2014 levels and much higher than was seen at the end of 2014 as commodity prices began to tumble. $7 billion of this total was raised in equity and the other $3 billion in debt, compared with an equal split of $10 billion in equity and debt during H1 2014. 


Source: CanOils Financings Database

TSX Companies – Equity Deals

The largest single equity issue recorded in the first six months of 2015 was the $1.50 billion raised by Cenovus Energy Inc. (TSX:CVE), the net proceeds of which were used to partially fund the company’s $1.8-$2.0 billion capital expenditure program for 2015 as well as to repay commercial paper outstanding as it matures and for general corporate purposes. The pricing of $22.55 per share was at a discount of almost 10% to the 20-day volume weighted trading average price (VWAP). This deal was followed closely by the second largest deal where $1.44 billion was raised by Encana Corporation (TSX:ECA) to redeem its US$700 million of long-term debt maturing in 2017 and C$750 million of long-term debt maturing in 2018 on April 6, 2015. At $14.60 per share, this was a 13% discount to the VWAP. Both offerings were filed under prospectus supplements and brokered by a syndicate of underwriters; RBC Capital Markets was one of the lead underwriters for both deals.


TSX Companies – Debt Deals

Husky Energy Inc. (TSX:HSE) completed the largest debt issuance in H1 2015, raising $750 million through the issuance of non-convertible notes with a coupon rate of 3.55% per annum, due to mature in 2025. The net proceeds of the offering were intended to be used for the partial repayment of short term debt incurred in connection with its U.S. refining operations. Other notable TSX company debt offerings during the period were the US$450m of 6.875% senior unsecured notes due 2023 raised by Paramount Resources Ltd. (TSX:POU), US$425m of 6.75% senior notes due 2023 raised by Seven Generations Energy Ltd. (TSX:VII) by way of a private placement and C$500 million of 2.89% medium-term series 2 notes due 2020 raised by Canada’s largest producer, Canadian Natural Resources Limited (TSX:CNQ). 


TSX-V Companies Continue to Feel the Squeeze

TSX-V financings accounted for $330m raised in the first six months of 2015, down 75% year-on-year, with equity raisings contributing $230 million (down 76%) and debt financings a further $100 million (down 72%) during H1 2015. However, deal count was down just 41%, which indicates slightly larger deals were completed in this six month period on average.


Source: CanOils Financings Database

TSX-V Companies – Equity Deals

A combination of subscription receipts, common shares and flow-through shares (CDE) were issued by Tamarack Valley Energy Ltd. (TSX-V:TVE) in June 2015 to complete the largest equity financing by a TSX-V listed company in H1 2015 for $84 million. The financing was carried out by a syndicate of underwriters co-led by National Bank Financial Inc. and Dundee Securities Ltd. at a discount of 13% to the 20-day VWAP for the subscription receipts and common shares and was over-subscribed, raising $14m pursuant to an over-allotment option. The net proceeds of the Subscription Receipts would fund the acquisition of certain assets in the Wilson Creek area of Alberta which in aggregate are expected to add approximately 1,450 boe/d (45% light oil and NGLs) as of the closing date and includes 128 (88 net) total sections of land in the greater Wilson Creek/Alder Flats areaSee Evaluate Energy’s review of Q2 2015 M&A activity here. Net proceeds of the Offered Shares are expected to be used to expand the Company's 2015 capital expenditure program, whilst the proceeds from the concurrent private placement of CDE Flow-Through Shares will be used to incur and renounce Canadian development expenditures. CanOils Assets is a powerful new tool that can help you analyse assets for sale in Western Canada.


TSX-V Companies – Debt Deals

Rooster Energy Ltd. (TSX-V:COQ) was involved in the largest single issuance of debt during H1 2015 of all TSX-V listed companies, raising US$60 million in senior secured notes, due to mature in 2018, for the repayment of existing senior secured debt in the principal amount of US$45 million, plus accrued interest and closing costs as well as to fund the company's development drilling program and other general corporate purposes.



1) All dollar amounts are in Canadian dollars unless otherwise expressly reported.

2) All data here is sourced from CanOils financing database, which tracks all equity and debt financings raised by TSX and TSX-V companies in an easy-to-use database. Clients have access to all deal metrics mentioned above, as well as underwriters’ information related to fees and participation and much more.


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Q2 2015 Oil & Gas M&A Recovers to $115 billion in E&P Sector

Posted by Eoin Coyne

Jul 2, 2015 12:14:00 PM

Large Headline Figure Conceals Enduring Caution in the Market

The total value of upstream oil and gas deals reached $115 billion during Q2 2015 ranking it as the second largest quarterly value since Evaluate Energy initiated its oil and gas M&A coverage 7 years ago. Although the headline figure falls just $13 billion short of the $128 billion value of deals in Q4 2012, the real sentiment of the quarter has been masked by the $84 billion (including debt) acquisition of BG by Royal Dutch Shell.

Without the support of the Shell-BG deal the quarterly total value of deals would have stood at $31 billion, which although is more than double the value during Q1 2015, is still a value that suggests that the market is still showing a large degree of caution in regards to its perception of where the price of oil is going to go in the near future. A better gauge of the underlying activity can perhaps be seen in the number of upstream deals with values greater than $100 million and $50 million. Analysis using Evaluate Energy’s M&A Deal Analytics tool reveals that Q2 2015 is still lagging far behind relative to deal flow in the past few years. Deals greater than $100 million and $50 million in Q2 2015 are 44% and 41% lower, respectively, than the average that prevailed in the 3 years prior to Q1 2015.


Source: Evaluate Energy’s M&A Deal Analytics

Oil Price Remains Suppressed

The main driver for the increase in deal value since Q1 2015 is likely to be the improvement in the oil price which ended Q1 below $50 but averaged $57 during Q2. The improvement was slight with the WTI benchmark trading in a tight band and never breaking out higher than $62 during the quarter and this therefore kept a lid on companies overreaching themselves financially. There are many factors affecting the oil price currently, making it hard to predict where it will go for the rest of the year. Rig counts and inventories are continuing on a downward trend in the US, which supports an upward pressure on the price, but at the same time OPEC is standing resolute at its decision to refrain from cutting oil production in its latest meeting in June and perhaps more importantly, there is the possibility of a big influx of oil into the market should Iran reach a nuclear deal that eases sanctions on its oil exports.

Market unsure of the value of BG

With what was the largest deal of the quarter and also of the past 17 years in the oil industry, Royal Dutch Shell agreed to acquire BG Group for $84 billion. The terms of the offer implied a healthy premium of 51% on the trading price of BG and there is a wide disparity in views on whether or not the deal represents good value for Shell. On the one hand, Shell is purchasing BG at a historically opportune time after the widespread drop in market capitalisations in the industry and the BG assets represent a good fit with Shell’s portfolio. On the other hand, with the low oil price currently prevailing in the market, the deal represents an EBITDA and cash flow multiple of 15 and 22 times respectively, based upon annualized Q1 2015 results, which are figures far higher than a typical corporate buyout in the industry of 5-10x. The fact that the share price of Shell has dropped by 14% since the day of the announcement shows that the doubters are currently exerting more influence than the believers in the deal.

Pacific Rubiales and Dragon Oil Consolidated by Parent Companies

ALFA, S.A.B. de C.V. made a move to increase its interest in Colombian operator Pacific Rubiales Energy Corp. – one of the largest producers on the Toronto Stock Exchange – from 18.95% to 100% for a total, all-cash value of $5 billion in the second largest deal of the quarter. Emirates National Oil Co (ENOC) is acquiring the remaining 46.1% of UK-listed Dragon Oil for $2.6 billion in what is the fifth largest deal of the quarter. ENOC’s previous attempt at consolidating Dragon Oil in 2009 broke down after failing to gain approval of a sufficient percentage of shareholders and it may not be coincidence that the Dragon Oil shareholders viewed ENOC’s approach this time as a good opportunity to cash out at a time of uncertainty in the market. 

Noble Opportunistically Acquires Rosetta Resources

Noble Energy emerged as the first company since the oil price slump to make a large corporate buyout in the US shale industry, the industry that has arguably been hardest hit in the past 7 months as global commodity prices fell. Rosetta’s debt to equity level stood at 119.8% at the end of 2014, which increased to 137.1% in Q1 2015 and would likely have risen further in Q2 2015 had Noble Energy not come in with a $3.9 billion offer, including debt. The timing of the deal means that Noble will be gaining Rosetta at a time when its enterprise value offered a 40% discount compared to 9 months ago, despite production rising 7% since this time and reserves remaining unchanged.

Itochu’s Samson Resources Relinquishment Reveals Struggle in the Shale Industry

Itochu was part of a consortium that acquired Samson Resources for $7.2 billion in 2011, a time when the US shale industry was in full strength and having an exposure to the burgeoning industry was seen as a prudent strategy by most large diversified oil companies. During Q2 2015, Itochu uncovered the current dire state of operations in the industry with a sub $60 oil price, by handing back their 25% interest in Samson for a nominal consideration of $1. The deal is the ninth largest oil and gas deal of the quarter on account of the $4 billion debt that Samson had on its balance sheet at the time of the announcement.

Total Q2 2015 Deal Statistics


Source: Evaluate Energy’s M&A Deal Analytics


When the oil price slumped at the tail end of 2014, companies across the industry quickly reverted to survival mode; cutting capex and discretionary costs in order to see out however long the low oil price environment would last. It’s now been 7 months since the oil price dropped lower than the marginal breakeven cost and with each month that the oil price remains low will be another month of strain on the balance sheet of companies in the industry, increasing the possibility of distressed corporate sales. With Royal Dutch Shell being the only major so far to make a significant move, the below table shows the companies best placed to pick off any struggling companies in the coming quarter. Assuming that a debt-to-capital-employed level of 35% is still a healthy level to operate within, the table below shows the top ten global oil and gas companies ranked on their capacity to take on further debt to fund opportunistic acquisitions (data taken from Evaluate Energy’s financial and operating database as per first quarter 2015 financial accounts).


Source: Evaluate Energy

Top 10 Deals During Q2 2015


Source: Evaluate Energy’s M&A Deal Analytics


All data here is taken from the Evaluate Energy M&A database, which provides Evaluate Energy subscribers with coverage of all E&P asset, corporate and farm-in deals back to 2008, as well as refinery, LNG, midstream and oil service sector deals.

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The Top 100 Canadian Oil & Gas Companies

Posted by Mark Young

Jun 24, 2015 9:09:00 AM

CanOils is pleased to announce the release of its new free report, Canada's Top 100 Oil & Gas Companies, which has been compiled using Q1 2015 Canadian oil & gas production results from all TSX and TSX-V listed Canadian oil and gas companies in the CanOils database.

Strong Operational Gains Marred by Falling Commodity Prices

Regardless of which companies climbed the rankings or which companies fell, Q1 2015’s low commodity prices have had an impact on everyone. Paramount Resources Ltd. (achieved a climb of 3 places to 26th this quarter) is one company that is a very interesting case study here to show just how hard the industry has been hit by falling prices. The company posted an 82% increase in average production from Q1 2014, 21,028 boe/d, to Q1 2015, 38,317 boe/d. Despite this, the company saw its sales revenue actually decrease by 7% to C$80.2 million, after its realised prices for oil and condensate in the same period fell by 52% to C$48.91/bbl from C$99.55/bbl. 

Price Downturn & Pipeline Curtailments Cause Production Cutbacks

The biggest and most significant falls in the top 100 rankings this quarter were mainly caused by two factors. One of these factors was the commodity price collapse at the end of 2014, which caused many companies to shut in uneconomic production in Q1 2015. Crew Energy Inc. shut in around 800 boe/d of uneconomic Lloydminster heavy oil production, for example, and dropped 4 places in the rankings to 40th. The other factor that was a common cause of production decreases in Q1 2015 was TransCanada pipeline curtailments; Peyto Exploration & Development Corp. (the only company to drop a place in the top 25), Bonterra Energy Corp. and Delphi Energy Corp. all had difficulties with TransCanada that caused a cut back in production.

The quarter's highest climber, Iona Energy Inc., ended Q1 2015 with an average of 1,707 boe/d, having mostly recovered from its own pipeline difficulties in the UK North Sea, which saw its Q4 2014 production limited to only 418 boe/d.


Source: CanOils via Canada's Top 100 Oil & Gas Companies, March 2015

Download the complete report on Canada’s Top 100 Oil & Gas Companies from CanOils here, for free, now.


The CanOils database provides clients with efficient data solutions to oil and gas company analysis, with 10+ years financial and operating data for over 300 Canadian oil and gas companies, M&A deals, Financings, Company Forecasts and Guidance, as well as an industry leading oil sands product.



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Alberta Oil & Gas Production Falls in Q1 2015

Posted by Mark Young

Jun 19, 2015 9:47:00 AM

Q1 2015 saw a significant fall in oil and gas production across Alberta, with many companies recording large declines in core operating areas compared to the end of 2014.

Between Q3 2014 and Q1 2015, overall Alberta production – excluding oil sands – has fallen by 8% (56,880 boe/d) and between Q4 2014 and Q1 2015, overall production has fallen by 5% (34,165 boe/d). This is due to a number of factors; the fall in global commodity prices is perhaps the major reason for this decline, but companies have also suffered due to other external pressures such as pipeline difficulties or maintenance periods, for example.

CanOils Assets is a powerful new tool that can identify both where production declined to the greatest degree and which companies recorded the biggest net decline. Find out more about CanOils Assets.

In Which Regions has Production Declined the Most?

Alberta is divided into 7 regions by the Petroleum Services Association of Canada ("PSAC Regions" – see note 1) and the production from each for any given period can be quickly downloaded from the CanOils Webmap. The data shows that, excluding oil sands production, all PSAC regions in Alberta with the exception of the Foothills region have recorded declines in quarterly production since Q3 2014 when commodity prices began to fall.  


Source: CanOils Assets


Source: CanOils Assets (Foothills PSAC region excluded here as production in that region increased)

NW Alberta had the biggest drop between Q3 2014 and Q1 2014 (11%, 24,888 boe/d) and Foothills Front is the biggest % drop between Q4 2014 and Q1 2015 (7%, 14,077 boe/d). These charts were built using the combined total monthly production of all non-oil sands wells in Alberta.

Identifying the Companies with the Biggest Declines in Production

As CanOils Assets has working interest information for every well in Alberta, British Columbia and Saskatchewan, this analysis can be taken further to look at each individual company’s performance and identify the companies that recorded the biggest declines in the Foothills Front and Northwest Alberta PSAC regions. A rundown of the top 5 in each region (exclusive of asset divestiture activity, see note 2) is shown below.

Table 1: NW Alberta – Biggest Production Volume Declines Between Q3 2014 and Q1 2015


Source: CanOils Assets (See note 2)

Table 2: Foothills Front – Biggest Production Volume Declines Between Q4 2014 and Q1 2015Alberta_PSAC_Prod4_Jun15

Source: CanOils Assets (See note 2)

With asset sales removed from consideration here, possible explanations for recording a decline in production between two periods include the following:

  • Natural decline – maturing wells produce at a lower rate as time goes on. A lack of new drilling will also make natural decline more pronounced in the data, as new wells would normally replace production lost to maturing assets
  • Production being shut-in or choked-back – production deliberately being suspended or slowed down for a variety of reasons, which could include maintenance, price concerns or difficulties with pipeline operators
  • Poor well performance – new wells being drilled may not have as good an initial production rate as wells drilled in the past

Please contact us to find out how CanOils Assets can be utilised to distinguish between these possibilities on a company by company basis, unravel company strategies and provide valuable, timely insights on industry trends. 



1) The Petroleum Services Association of Canada (PSAC) divided Alberta into 7 regions based on service areas with similar costs. The 7 regions are, in alphabetical order, Central Alberta, East Central Alberta, Foothills, Foothills Front, Northeast Alberta, Northwest Alberta and Southeast Alberta.

2) Production figures in Q4 2014 in Foothills Front and production figures in Q3 2014 in Northwest Alberta have been normalised for asset sales between these respective periods and Q1 2015 for the companies in question. By removing asset sales, the data now shows the companies that recorded a reduced level of production from the same asset base between periods. Without this, Encana Corp., for example, would be very high on the Foothills Front table as it recorded a huge drop in production between Q4 2014 and Q1 2015, but a very high percentage of this is attributable to the sale of coalbed methane assets to Brookfield Asset Management Inc. 

Need to Analyse Assets for Sale?  Find Out How - Click Here
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The Next Step in Canadian Oil & Gas Deal Analysis

Posted by Mark Young

Jun 17, 2015 10:58:00 AM

Book your CanOils Deal Analytics Test Drive today

CanOils is delighted to announce its latest oil and gas industry tool, Deal Analytics.

With acquisition and divestiture activity looking set to significantly increase in the second half of 2015, CanOils Deal Analytics is perfectly positioned to deliver the breadth and depth of coverage needed to understand Canadian upstream deal valuations in the new oil price environment.

Deal Analytics provides access to the existing CanOils M&A database but with a completely new interface and a plethora of analysis and filter tools, greatly enhancing the usability of the existing global M&A database product.

CanOils' Deal Analytics comprehensively covers every upstream oil and gas deal in Canada and all upstream deals globally that involve Canadian oil and gas companies.

Expanded toolsets now include; preset dashboards covering region, country and companies, building custom peer-groups ‘on the fly’, macro-to-micro industry views and auto-generated charts to filter, update and analyse data instantly.

Canadian deal analysis dashboard with multiple chart filters


Oil and gas professionals focused on the Canadian market use CanOils deal data to understand and compare deal KPIs across the Canadian oil and gas industry with an extensive set of transaction metrics, which include normalised per barrel metrics for both reserves and production for ease of comparison. 

Custom peer group analysis dashboards show deal activity by resource type, deal type and country


CanOils Deal Analytics is unique in its speed, function and ability to deliver almost immediate analysis of global, region and peer group based deal data. Including the wider CanOils datasets, Deal Analytics forms part of one of the most comprehensive Canadian oil and gas company research tools available on the market today.

To book your CanOils Deal Analytics Test Drive, simply visit our request page here and we will get back to you within 24 hours

For further information on bespoke company research, please contact David Swanson in Calgary at or +1 (403) 512 1622 or Gareth Hector in London at or +44 (0)20 7247 610

Find Out More


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Opportunities for Oilsands Service Companies in $60 Oil Market

Posted by Mark Young

Jun 10, 2015 5:03:00 AM


CanOils enters the ready-made reports market

CanOils has announced the launch of its new Market Intelligence Reports, a series of analytical publications that provide insight and recommendations to guide oil and gas business strategy. The inaugural report, Hunting opportunities: Following the producer spend in a bear oilsands market, is targeted to benefit service and supply companies operating in the Canadian oil sands as the business reacts to the global rebalancing of crude oil dynamics and pricing.

The report is available for purchase online.


Despite significant reductions in growth capital spending in the low oil price environment, oil sands producers are maintaining and, in many cases, increasing spend on operational efficiency. The new CanOils report outlines the meaningful opportunities that exist for oil sands service and supply companies to access this shift in addressable spend.

“In this low price environment, competition is fierce, operational efficiencies become paramount and business development is even more important,” explains Dave Swanson, vice -president of sales for Evaluate Energy and CanOils. “One Market Intelligence Report is equivalent to having an entire team of financial analysts and researchers on payroll. You get deep data and analysis that support specific, actionable recommendations in each report.”

At $400 per download, the report is positioned as an economical alternative to consultative research fees, as it pre-defines project spend and calculates cash netbacks for top producers. The report also suggests strategies that would appeal to in situ and mining/upgrading operators, provincial government leaders and energy regulators.

Click for more information on the first report in this series,
CanOils is a database of all publicly listed oil and gas companies in Canada. The CanOils database tool provides comprehensive financial and operating data - as well as an industry leading oilsands product - with access available as part of a yearly membership. Custom research, reports and consultancy services are also offered by the company.
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Exploring the Impact of Falling Oil & Gas Prices

Posted by Mark Young

Jun 9, 2015 7:22:17 AM

New Report to Download - The Global Ripple Effect


Investors and advisers alike will benefit from the data-rich comparative analysis in The Global Ripple Effect.

This whitepaper explores the impact that the fall in oil & gas prices at the end of 2014 had on various facets of both the Canadian and global oil and gas industries.

Topics Include:

  • Hedging contracts and how they helped some Canadian companies rescue revenues 
  • Global M&A activity in Q1 2015 following the price crash
  • Major Asset Impairments across the US in Q4 2014 as prices fell


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The Next Step in Oil & Gas Deal Analysis

Posted by Mark Young

May 21, 2015 9:59:00 AM

Book Your Test Drive of Evaluate Energy Deal Analytics Today

Evaluate Energy is delighted to announce the launch of its latest oil and gas industry tool, Deal Analytics.

With acquisition and divestiture activity looking set to significantly increase in the second half of 2015, Evaluate Energy Deal Analytics is perfectly positioned to deliver the breadth and depth of coverage needed to understand deal valuations in the new oil price environment.

Deal Analytics provides access to the existing Evaluate Energy M&A database but with a completely new interface and a plethora of analysis and filter tools, greatly enhancing the usability of the existing global M&A database product.

Evaluate Energy’s Deal Analytics comprehensively covers every upstream oil and gas deal the world over and has gradually expanded over time to include midstream, downstream, LNG and oil service deals.

Expanded toolsets now include; preset dashboards covering region, country and companies, building custom peer-groups ‘on the fly’, macro-to-micro industry views and auto-generated charts to filter, update and analyse data instantly.

Global deal analysis dashboard with multiple chart filters


Oil and gas professionals worldwide use Evaluate Energy’s deal data to understand and compare deal KPIs across the industry with an extensive set of transaction metrics, which include normalised per barrel metrics for both reserves and production for ease of comparison. 

Preset USA analysis dashboards show by state and by play deal activity


Evaluate Energy Deal Analytics is unique in its speed, function and ability to deliver almost immediate analysis of global, region and peer group based deal data. Including the wider Evaluate Energy datasets, Deal Analytics forms part of one of the most comprehensive company research tools available on the market today.

To book your Evaluate Energy Deal Analytics Test Drive, simply visit our request page here and we will get back to you within 24 hours

For further information on bespoke company research, please contact Gareth Hector at or +44 (0)20 7247 610

Find Out More

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