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A pump jack draws oil from the ground near a hydraulic fracturing operation near Bowden, Alta., Tuesday, Feb. 14, 2012.
A pump jack draws oil from the ground near a hydraulic fracturing operation near Bowden, Alta., Tuesday, Feb. 14, 2012.
(Jeff McIntosh for The Globe and Mail/Jeff McIntosh for The Globe and Mail)

Oil patch enjoying IPO revival

The oil patch has become fertile ground again for initial public offerings.

This time around, a few notable trends have emerged, including companies building larger production bases before going public.

Such is the case with the next Calgary-based producer set for an IPO, Northern Blizzard Resource Inc., which gained a large operating base in 2010 when it paid $975-million for heavy oil assets from Nexen Energy Inc.