In the Canadian oil & gas industry, there were 27 M&A deals announced in Q4 2023, worth a total value of $4.2bn, according to GlobalData’s Deals Database. The $2.3bn minority acquisition of Alliance Pipeline, Aux Sable Canada and NRGreen Power Limited Partnership by Pembina Pipeline was the industry’s largest disclosed deal. GlobalData’s Oil and Gas Industry Mergers and Acquisitions Deals report for 2023 uncovers key trends behind the oil & gas market M&A deals and helps gain a comprehensive understanding of the disruptive themes driving most notable to deals. Buy the report here.

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In value terms, M&A activity in Canada increased by 20% in Q4 2023 compared with the previous quarter’s total of $3.5bn and rose by 95% as compared to Q4 2022. Related deal volume decreased by 4% in Q4 2023 versus the previous quarter and was 23% lower than in Q4 2022.

The top-ranked financial advisors supporting these M&A deals in Canada in Q4 2023 were National Bank of Canada; Royal Bank of Canada; Bank of Montreal with 11, 9, 7 deals respectively.

The top-ranked legal advisorss supporting these M&A deals in Canada Q4 2023 were Blake, Cassels & Graydon; Stikeman Elliott; Fasken Martineau DuMoulin with 8, 7, 6 deals respectively.

For further understanding of GlobalData's Oil and Gas Industry Mergers and Acquisitions Deals by Top Themes in 2023 – Thematic Intelligence, buy the report here.

This content was updated on 8 January 2024

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Deals Database tracks global deal activity, including mergers, acquisitions, capital raising, strategic alliances, and licensing agreements. Proprietary analysis is used to group deals into key thematic areas and granular sectors across the world’s largest industries.

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Deal type includes Acquisition, Asset transactions and Mergers.