Much can be said about the state of the energy industry in Canada during 2018, but few could dispute it was a roller coaster ride throughout. Prices and activity levels climbed steadily in the first half of 2018, with many (including ourselves) predicting better days ahead for the industry. Instead, transportation bottlenecks and global economic concerns hammered the industry in the second half of the year, prompting protests, government mandated production cuts, and a return of pessimism to the market. That being said, we remain optimistic heading into 2019 that stabilizing prices, additional takeaway capacity, and LNG related activity will result in sunnier days for the industry.
Within the oilfield and industrial industry segments, Q4 2018 saw 110 disclosed transactions with either a Canadian target or buyer. Of the 110 transactions, 12 (12%) were specific to the oilfield services sector – an increase of five transactions over the previous quarter. A list of all the Canadian oilfield service and industrial transactions in the quarter are included in Appendix B.