[1/2] A TORC Oil & Gas pump jack is seen near Granum, Alberta, Canada May 6, 2020. Companies operating in the huge Montney shale formation, which spans northern Alberta and British Columbia and accounts for roughly half Canada's gas production, are most attractive to potential buyers. Canada is home to the world's third largest oil reserves, most of it in the form of bitumen in oil sands concentrated in Alberta. Already, U.S. acquisitions of Canadian oil and gas targets have more than doubled from last year and hit a 12-year high of $3.2 billion so far in 2023, according to LSEG data. Another substantial draw for investors is the largely untapped potential of Canadian shale.

Source: The North Africa Journal November 02, 2023 16:11 UTC