Winnipeg Free Press - PRINT EDITION

Global energy assets facing sell-off: survey

  • Print

CALGARY -- Ernst & Young foresees a lot of "for sale" signs being posted on energy assets around the world -- and Canada's oilpatch is no exception.

The global advisory firm found 37 per cent of oil and gas respondents it surveyed globally are either in the process of selling assets or plan to do so over the next two years.

Barry Munro, who heads up Ernst & Young's Canadian oil and gas group, said Canadian oilpatch companies face their own unique set of challenges that have made capital costlier and harder to come by.

Those headwinds include difficulty in getting crude oil to market amid pipeline bottlenecks, stubbornly low natural gas prices, rising costs and regulatory delays.

Shedding non-core properties is one way for companies to raise enough capital to survive, and is often a more attractive option than raising equity and diluting stock prices or loading on debt.

Though the survey's results weren't broken up by country, Munro said he has a good idea what kinds of conversations are happening around boardroom tables in downtown Calgary.

"I think that virtually every energy company is thinking about whether they should be buyers or sellers of either specifics assets or the whole company," Munro said.

-- The Canadian Press

Republished from the Winnipeg Free Press print edition February 11, 2013 B6

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Inside peek at Real Pirates, new Manitoba Museum exhibit

View more like this

Photo Store Gallery

  • Winnipeg’s best friend the dragon fly takes a break at English Gardens in Assiniboine Park Wednesday- A dragon fly can eat  food equal to its own weight in 30 minutes-Standup photo- June 13, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)
  • A Great Horned Owl that was caught up in some soccer nets in Shamrock Park in Southdale on November 16th was rehabilitated and returned to the the city park behind Shamrock School and released this afternoon. Sequence of the release. December 4, 2012  BORIS MINKEVICH / WINNIPEG FREE PRESS

View More Gallery Photos

Poll

Do you support Pimicikamak First Nation's protest against Manitoba Hydro?

View Results

View Related Story

Ads by Google