Crude pricing continued to decline quarter over quarter while the average Canadian active rig count in Q3 2019 fell to 132 rigs versus 209 rigs in Q3 2018, representing a decrease of 37%. In Canada, activity continues to be restricted due to limited takeaway capacity and consequently government mandated curtailments. The impact of these obstacles is amplified by a perception of political uncertainty, which has had the effect of dampening investor enthusiasm for the country’s energy sector.
Download Quarterly M&A Review: The Well Street Journal – Q3 2019