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Four pumpjacks on the prairie.
Four pumpjacks on the prairie.
(Andrew Penner/iStockphoto)

Avoiding junior oil producers? Buyers aren't

The pace of deals is picking up in the oil patch, with foreign buyers snapping up juniors focused on conventional oil.

It’s hardly CNOOC-Nexen, but Eastern Europe’s biggest publicly traded oil company is buying Trioil Resources for $184-million, picking up properties around Alberta.

That comes just two weeks after Yanchang Petroleum Group Ltd. of China agreed to buy Novus EnergyInc. for $320-million.