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Stock impact report

U.S. oil companies, energy investors 'looking at Canada again' amid flurry of deals [Yahoo! Finance Canada]

Baytex Energy Corp Common Shares (BTE) 
Last baytex energy corp common shares earnings: 3/4 06:30 am Check Earnings Report
U.S. producers and private capital is fuelling speculation about a revival of foreign investment in Canada's perennially unloved energy sector. Calgary-based Baytex Energy Corp. announced the sale of its U.S. shale operations for $3.25 billion last week, in a move it characterized as “sharpening focus” on its core Canadian assets. Its announcement follows a wave of deal-making in Alberta's oilpatch involving U.S. companies or capital: Denver-based Ovintiv Inc.'s $3.8-billion acquisition of NuVista Energy Ltd., and U.S. private-equity-backed Cygnet Energy Ltd.'s $1.4-billion bid for Kiwetinohk Energy Corp. In the case of Baytex and Ovintiv, the moves appear to be a rebalancing toward Canada by producers operating in both countries and seeing better deals and returns north of the border, BMO Capital Markets managing director Jeremy McCrea said. “Many foreign operators are looking at Canada again,” McCrea said. “Ovintiv is a good example: here is an operator with assets split in Show less Read more
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