Data from CanOils’ latest M&A report shows that the total value of announced M&A deals in the Canadian E&P sector totalled Cdn$880 million in May 2016. The report is available for download now. Although this value falls short of the average monthly deal aggregate of Cdn$1.5 billion since the price downturn began, what bodes well is that this month’s total is spread across a few deals worth over Cdn$50 million as opposed to previous months where one large deal often dominated the total. Notable deals this month include Husky Energy Inc.’s (TSX:HSE) disposal of Saskatchewan assets to Whitecap Resources Inc. (TSX:WCP) and royalty assets to Freehold Royalties Ltd. (TSX:FRU) and Spartan Energy Corp.’s (TSX-V:SPE) acquisition of privately-held Wyatt Oil + Gas Inc..
This new M&A report delves into every deal story involving a Canadian oil and gas company in May 2016, using data from the entire CanOils database.
Source: CanOils M&A Database
Husky Makes Two Significant Asset Sales
Husky Energy Inc. made the most headlines in the Canadian M&A space this month, agreeing the two biggest deals of the month. Whitecap Resources Inc. will acquire assets in southeast Saskatchewan for Cdn$595 million, while Freehold Royalties has completed the Cdn$165 million acquisition of some royalty production in Saskatchewan and the Deep Basin.
Map of Husky Energy Wells and Land being Acquired by Whitecap Resources
Both of these deals are analysed in detail in the new CanOils monthly M&A review for May 2016.
Also included in the report:
- Whitecap’s recent deal history and detailed analysis of the company’s equity financings
- Arsenal Energy agrees to sell its properties in the United States
- Murphy Oil completes joint venture arrangement with Athabasca Oil Corp.
- 15,000 boe/d of domestic Canadian production put up for sale in May, including Connacher Oil & Gas’ SAGD operations
- A round up of all the deal stories impacting Canada’s oil and gas industry in May