Frank Turner
Oct 2, 2014
Yadullah Hussain, Financial Post, National Post
(Recap)
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Canada has seen a resurgence in oil and gas deals this year, after a very lacklustre 2013. Deals just over $32-billion have been announced or completed year-to-date, compared to around $13-billion in 2013 during the same period, FP Infomart data shows.
"Some companies are pursuing strategies where they focus on a single or a very small number of geographic areas," said Frank Turner, a Calgary-based lawyer at Osler, Hoskin & Harcourt LLP.
The small-is-profitable theme is playing out across Western Canada.
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Osler's Mr. Turner says the arrival of PE giant Kohlberg Kravis Roberts LLP in Calgary and other big U.S. private equity and hedge funds has provided some comfort to capital-hungry small caps, especially in the absence of other investors.
"When capital markets weren't really very accepting of new issues by oil and gas issuers and international state-owned enterprises were unavailable, private equity turned out to be a very good option," Mr. Turner said.
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