Canadian oil companies increase financings

Treasury financings completed in the first half of 1999 by Canadian oil and gas exploration and production companies increased by 4% vs. the same period in 1998.During the first 6 months of 1999, the value of total financings reached $2.86 billion (Canadian) from 133 treasury issues. During the same period in 1998, total financings were $2.75 billion from 197 issues.These were among the findings of a recent analysis by Sayer Securities Ltd., Calgary.AnalysisThe increase in the overall financings value for the first half of 1999 is attributable to increases in both debt and royalty trusts, says Sayer, in spite of a "significant" decrease in equity financings."So far in 1999, debt issues ha...

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