As we woke up Sunday morning, the news was about Cenovus and Husky’s plan to merge and create a new “resilient intergraded energy leader.” The consolidation wave has been gaining momentum in Canada’s oil patch for some time, but this is the biggest announcement yet.
On this week’s episode, Peter and Jackie analyze the drivers for industry consolidation by reviewing ARC’s Fiscal Pulse of the Canadian Oil and Gas Industry for 2020. Low prices have slowed the fiscal pulse. This, along with pressure to return money to shareholders and liquidity issues, are catalysts for industry consolidation.
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