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Canadian oilpatch expected to keep bulking up through mergers and acquisitions
Canadian oil producers pursue mergers to improve scale amid regulatory challenges and stagnant oil prices near US$60 per barrel, with a modest consolidation slowdown forecasted by ATB Capital Markets.
- On Feb. 10, 2026, Grant Zawalsky, senior partner and vice-chair at Burnet, Duckworth & Palmer LLP, said Canadian oil and gas producers continue consolidating as oil prices hover around US$60 per barrel and shareholders demand dividends and buybacks.
- Tom Pavic, president of Sayer Energy Advisors, noted the investment environment has improved with Ottawa and Alberta reaching an energy accord supporting a West Coast oil pipeline.
- Last year, deals included Cenovus Energy Inc.'s MEG bid, Whitecap Resources Inc.'s $15-billion deal, and Ovintiv Inc.'s $3.8-billion NuVista acquisition, with BD&P involved in eight of the top 10 deals.
- ATB Capital Markets said it expects a `modest slowdown` in consolidation among explorers and producers, with hostile bids like Strathcona Resources Ltd.'s MEG approach as outliers and deal values lower than in 2025.
- Buyers weigh export infrastructure and regulatory hurdles as U.S. private equity shows interest, and Zawalsky said, `they view that as an opportunity` despite no uptick in global acquisitions.
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14 Articles
Red-Hot Canadian Oil Patch M&A Likely to Cool
Last year saw a record number of deals in the Canadian oil patch, with sectoral consolidation reaching an eight-year high. But a new report from Calgary-based Sayer Energy Advisors anticipates mergers and acquisitions in Canada’s upstream oil and gas will moderate over the next 12 months. The report’s findings go against the expectations of industry analysts and executives of more US buyers searching for acquisition targets, along with more favo…
Canadian oilpatch is expected to keep bulking up through mergers and acquisitions
Oilpatch advisers are expecting the wave of consolidation to continue after last year's string of blockbuster Canadian deals, but whether foreign buyers are ready to jump into the fray remains an open question.
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Canadian oilpatch expected to keep bulking up through mergers and acquisitions
CALGARY — Oilpatch advisers are expecting the wave of consolidation to continue after last year's string of blockbuster Canadian deals, but whether foreign buyers are ready to jump into the fray remains an open question.
Canadian Oilpatch Expected to Keep Bulking Up Through Mergers and Acquisitions - Energy News, Top Headlines, Commentaries, Features & Events
CALGARY – Oilpatch advisers are expecting the wave of consolidation to continue after last year’s string of blockbuster Canadian deals, but whether foreign buyers are ready to jump into the fray remains an open question. Companies have seen the merit in bulking up through mergers and acquisitions as oil prices hover around the lacklustre US$60 ...
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