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Petroleum News: Canadian oil patch deals surge in ’06

Vol. 12, No. 9  Week of March 04, 2007

Oil and gas deal-making tallied C$56.9 billion in Canada last year, an increase of 32 percent from 2005, and accounting for one-quarter of all Canadian mergers and acquisitions, said investment banker Crosbie & Co.

But the list includes the planned C$8.7 billion takeout of Shell Canada by its parent company Royal Dutch Shell — a transaction that has yet to be concluded.

The other major transactions were TransCanada’s US$3.4 billion purchase of ANR Pipeline from El Paso and Canadian Natural Resources’ US$4.25 billion acquisition of Anadarko Canada.

—Gary Park

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