CANADA M&A DEALS UP SHARPLY IN 1992

The value and number of Canadian petroleum industry mergers and acquisitions jumped sharply in 1992, reports Sayer Securities Ltd., Calgary. The trend driving the increase is the sale of major company noncore assets to small and medium sized companies, Sayer said. Value of the Canadian transactions rose 42% to $4.78 billion (Canadian) in 1992 from $3.36 billion in 1991. Much of that increase stemmed from a $1 billion exchange of properties among Amoco Canada Petroleum Co. Ltd., Maligne

Feb. 2, 1993

The value and number of Canadian petroleum industry mergers and acquisitions jumped sharply in 1992, reports Sayer Securities Ltd., Calgary.

The trend driving the increase is the sale of major company noncore assets to small and medium sized companies, Sayer said.

Value of the Canadian transactions rose 42% to $4.78 billion (Canadian) in 1992 from $3.36 billion in 1991. Much of that increase stemmed from a $1 billion exchange of properties among Amoco Canada Petroleum Co. Ltd., Maligne Resources Ltd., and Encor Inc. in February 1992.

The number of Canadian transactions year to year increased 36% to 1,392. Acquisition prices continued to slide, however, with a median acquisition price of $4.01/bbl of oil equivalent (BOE) in 1992 vs. $4.38/BOE in 1991 and $5.30/BOE in 1988.