During 2013 and early 2014 as oil prices danced around the US$100/bbl mark, deal activity in the Canadian oil sands was at a near standstill. Many industry observers blamed the dropoff on new regulations restricting oil sands ownership by foreign state-owned enterprises following CNOOC’s $18 billion acquisition of Nexen in late 2012. However, many buyers were simply drawn away by the lower up-front costs and quicker payout of the North American shale plays.Now, with......
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