Service & Supply | Oilfield Services | Deals - Acquisition, Mergers, Divestitures
Savanna To Total Energy Services, Hell No; Rejects Buyout Offer
Print
|
[Summary: Savanna Energy Services determined that the offer from Total Energy Services Inc. to purchase all of the common shares of Savanna is not in the best interest of Savanna, and shareholders should reject the offer.]
Calgary-based Savanna Energy Services said its Board of Directors, has unanimously determined that the offer from Total Energy Services Inc. to purchase all of the common shares of Savanna on the basis of 0.13 common shares of Total for each common share of Savanna significantly undervalues the common shares of Savanna, is not in the best interests of Savanna or its shareholders and that shareholders should reject the offer.
Canada News
Western Canada Upstream M&A: Q1 2026 Transaction Report
Western Canadian M&A activity in Q1 2026 was characterized by a 87% decrease in total deal value compared to Q1 2025, totaling $0.8 billion C$. However, transaction volume…
Canadan E&P 2026 Program Calls for 448 Net Wells, Up 24% vs. 2025 Plan
Canadian Natural Resources outlined a 2026 operating capital budget of approximately $6.3 billion (total capital budget $6,425 million, including $125 million for carbon capture) targeting 1,590–1,650 MBOE/d of…
EIA’s “Glut” Calls: The 2025 Surplus Claim — and How 2021–2024 Forecasts Actually Held Up
The “~2.2 MMb/d glut in 2025” framing traces to the EIA’s Short-Term Energy Outlook (STEO), December 2025. EIA doesn’t usually write “glut” in the tables—what they publish is…
Whitecap Details 2026 Duvernay & Montney Program
Whitecap Resources reported strong third quarter 2025 operating and financial results, marking its first full quarter following the strategic combination with Veren that closed on May 12, 2025.…
ARC Resources: Lower 2026 Capex, Higher Volumes
ARC Resources used its third quarter update to reinforce a familiar message to Canadian E&P executives: disciplined capital, structurally better market access, and a growing shareholder return program…