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Canadian Energy Firms Struggle with Debt, Survival as Oil Prices Plummet

Posted December 10, 2014

Under Economic Issues

(Bloomberg)

The rapid decline in global oil prices is setting the stage for a long dance between buyers and sellers in Canada’s energy industry.

The rout put a chill on an oil and gas acquisition market that saw about $39 billion of deals this year and is leading sellers like Penn West Petroleum Ltd. to consider waiting for a rebound. Highly indebted Canadian oil and natural gas producers may not be able to afford that luxury, and suiters such as Crescent Point Energy Corp. Chief Executive Officer Scott Saxberg are circling for bargains. Read more here.