CALGARY - A lack of capital for drilling coupled with rising exploration costs make it unsurprising that fewer players are operating in Western Canada’s oil and gas fields, analysts say. A study from consulting firm XI Technologies of Calgary finds that almost 300 names have disappeared from a roster of all companies producing oil and gas in Western Canada since global oil prices began crashing at the end of 2014. ( Larry MacDougal / THE CANADIAN PRESS )A total of 1,334 active companies — privately held and foreign-owned entities as well as publicly traded firms — reported oil or gas production in Western Canada in December 2018, XI found. Sayer data shows total Canadian oil and gas M&A value in 2014 was $49.4 billion but it fell to $16 billion in 2015 and $12.1 billion last year. XI says the consolidation of companies in Western Canada has resulted in a greater number of subsidiaries for many larger producers.

Source: thestar April 11, 2019 15:45 UTC