Canada’s Oil Patch On Track For Biggest M&A Wave In A Decade
Canada's oil sector is experiencing its largest M&A wave in a decade, with over $30 billion in deals this year. Shell acquired Arc Resources for $16.4B to boost reserves and production. Tamarack Valley and Headwater Exploration merged in a $7.25B deal. Carlyle formed Avenrock Energy to buy Parallax Energy for around $1B. High oil prices and asset values are driving the activity, according to industry experts.