RE:RE:RE:RE:RE:RE:RE:After q4 Petrus and Ygr Some of these companies are just lifestyle companies sucking money out of the company for little benefit to shareholders. The ceo and maybe one or two others are really the only ones benefiting. Samsun should sell cheap. The last company taken over by IPO seemed like that too. The ceo hadn't done anything for years but collect a cheque. It is less common in oil and gas than mining companies though.
one thing about the Canadian oil and gas industry: the number of pubcos has dropped so much it is now possible to keep reasonably up to date on every public company trading over 15 cents that there is. New ones are not being created as quickly as they were in the past. The high risk model of issue a few shares, load it up with 3X debt, and sell once production is up a little is over.
There are more private companies than ever but they are not involved in Mand A much, nor are they getting top dollar when selling either. Too bad they don't put out much news.
The multi nationals mostly divested. Just Conoco, Exxon, some Legacy Shell assets (plus LNG) and CNOOC and Petronas that have real size.
Would be interesting to see what the average production of a public Canadian E and P is now. I bet every year is a new record high.
With decent prices, balance sheets all in very good condition, a dozen producers with 150k to 1 million boe per day in the basin - you would think there would be a lot more M and A activity.