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Thread: Oil and gas consolidation 2021

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    Default Oil and gas consolidation 2021

    I think this talk was spread out elsewhere. But 2021 is kicking off with a little combination of whitecap and Torc.
    .https://www.newswire.ca/news-release...866064431.html
    Silly people focus on the math.

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    Quote Originally Posted by ExtraSlow View Post
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    I think this talk was spread out elsewhere. But 2021 is kicking off with a little combination of whitecap and Torc.
    .https://www.newswire.ca/news-release...866064431.html
    Yeah just got an email about that. Not sure what it means but my work is in the Gas side of things sooo.

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    Wonder who tourmaline is buying next.

    Torc deal seems good for shareholders. Predicting future mergers is pretty tough though.
    Last edited by killramos; 12-08-2020 at 09:15 PM.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

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    Torc deal is a good deal for the people I know who've been at Torc for the long haul. There was no other way out.
    Silly people focus on the math.

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    People I know who were involved sound happy. Not a huge company but solid consolidation. WCP kind of surprised me but not for any reason.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

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    I am under the impression Whitecap has acquired another local O&S shop. I am not sure if its public knowledge yet but it may be. Only reason why in know is because they have requested my wife come in for an interview for her own job in January as she has been off on mat leave when the whole acquisition took place

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    I have only gathered one opinion on the deal, and it is positive.

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    Quote Originally Posted by gyromonkey View Post
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    I am under the impression Whitecap has acquired another local O&S shop. I am not sure if its public knowledge yet but it may be. Only reason why in know is because they have requested my wife come in for an interview for her own job in January as she has been off on mat leave when the whole acquisition took place
    you mean NAL? That's old news.
    Silly people focus on the math.

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    Yes that's the one. Can't say I am really up to date on O&G as my wife has chosen to stay home with the kiddos. I told her to take the interview just so if they lay her off she might get a package as she was at NAL for 6-7 years

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    NAL = NewAlta, doesn't it?

    Edit - oh fuck. I forgot they got bought a couple years ago. I was horny for them back when they were helping Syncrude centrifuge MFT but I never bought.
    Le chicken.
    Last edited by ThePenIsMightier; 12-08-2020 at 10:10 PM.

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    Quote Originally Posted by ThePenIsMightier View Post
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    NAL = NewAlta, doesn't it?
    NAL Is just NAL to my knowledge. Manulife funded oil co
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

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    Quote Originally Posted by killramos View Post
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    People I know who were involved sound happy. Not a huge company but solid consolidation. WCP kind of surprised me but not for any reason.
    Just wondering if you could elaborate a bit? Are they happy just with better prospects or with the actual transaction?

    Looks like they sold for ~5% discount to todays trading. Maybe if they were granted a whack of options at their bottom but.. I don't see how this is that good for anyone except people that wanted out immediately (investors)

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    Quote Originally Posted by killramos View Post
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    NAL Is just NAL to my knowledge. Manulife funded oil co
    Correct. Just a bunch of random plays all over sask and AB. They went hard before gas went tits up and Manulife hasn't funded them much since (smart move in retrospect)

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    Mostly from an investors standpoint, it’s all stock and to my knowledge it was just priced on a 10 day weighted average multiple so there isn’t really much “discount” per se in the big picture.

    Even for the people who were there it’s nice to get some money “out”.

    Is it great for lower level employees? Probably not, I’m sure most of them will be let go. Hopefully some asset teams will move over as the two companies aren’t really all that synergistic.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

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    Good for the TOG OG's who can finally get thier money out. Will fotnsire mean headcount reductions and that's going to be tough for those who aren't executives with millions of dollars worth of stock.

    That seems to be the point of oil companies. Enrich executives.
    Silly people focus on the math.

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    Quote Originally Posted by ExtraSlow View Post
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    That seems to be the point of oil companies. Enrich executives.
    Isn't that the point of like... any business..? Reward the people that are willing to take the (sometimes huge) risk starting it, and make the time/stress commitment to drive success?

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    Quote Originally Posted by ExtraSlow View Post
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    Good for the TOG OG's who can finally get thier money out. Will fotnsire mean headcount reductions and that's going to be tough for those who aren't executives with millions of dollars worth of stock.

    That seems to be the point of oil companies. Enrich executives.
    Can confirm - am at private company... lower level employees given options but havent seen a dime. Only executives thus far have been enriched. The company has to buy them out of their cheaper options of course to align them with new prices!

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    Quote Originally Posted by cjblair View Post
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    Isn't that the point of like... any business..? Reward the people that are willing to take the (sometimes huge) risk starting it, and make the time/stress commitment to drive success?
    Often times the investors take most or all of the financial risk and the executives have almost zero risk (other than maybe their reputation), but usually that requires them to have a good track record building/selling companies to get the investors on board on the first place.

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    Quote Originally Posted by Mitsu3000gt View Post
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    Often times the investors take most or all of the financial risk and the executives have almost zero risk (other than maybe their reputation), but usually that requires them to have a good track record building/selling companies to get the investors on board on the first place.
    I can't tell if you're disagreeing with me. For those people, the risk to reputation is equal or > capital risk... and in a sense, because their reputation and track record of proven success is required to get investors (as you said), they are kind of one in the same. Reputation/personal brand risk is significant for someone like that.

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    What is everyone's thought on Obsidian's attempt at a hostile take over of Bonterra?
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    ...Last thing I want is someone reading my posts and losing their cock over it...
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    Meh, they all look like Jackie Chan to me
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    Which one has best efficacy at enlarging my dank?

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    Quote Originally Posted by cjblair View Post
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    Isn't that the point of like... any business..? Reward the people that are willing to take the (sometimes huge) risk starting it, and make the time/stress commitment to drive success?
    DOn't mind me, I'm in a bad mood because of some jerks in texas today. I'll go drink a coffee and relax.
    Silly people focus on the math.

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    Quote Originally Posted by schurchill39 View Post
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    What is everyone's thought on Obsidian's attempt at a hostile take over of Bonterra?
    Bonterra will never go for it so it’s pretty irrelevant.

    Obsidian out of touch as per usual
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

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