Energy
Canada’s Oil Sands Poised for Mega Merger After Busy 2025
Heavy haulers at the Athabasca oil sands near Fort McMurray, Alberta.
Photographer: Ben Nelms/BloombergCanada’s oil patch is ripe for a mega merger, analysts say, after a bumper year for deals has left relatively few smaller targets available.
The value of deals executed or pending as of Dec. 31 totaled $37.8 billion, according to data compiled by Bloomberg. The value of those transactions exceeded that of any year since 2017, when international oil majors including Shell Plc. and ConocoPhillips began selling oil sands assets to local companies, data compiled by Bloomberg show.