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An oil worker holds raw tar sand near Fort McMurray, on July 9, 2008.
An oil worker holds raw tar sand near Fort McMurray, on July 9, 2008.
(JEFF McINTOSH/THE CANADIAN PRESS)

Corporate M&A picks up in the oil patch, will still lag 15-year average

The value of corporate mergers and acquisitions in the energy industry has already left last year’s figure in the dust, but deal activity is still expected to lag the 15-year average in the absence of big oil sands transactions, according to a U.S. consultancy and research firm.

IHS Energy said it expects the 15 corporate deals in Canadian exploration and production sector valued at $6-billion (U.S.), or $6.6-billion (Canadian), for the full year. That is up from the 10-year-low tally of 11 deals worth $2-billion (U.S.) in 2013.