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Credit to Peters & Co., some interesting charts to better understand an evolving Cdn energy sector…
a) lagging cost of capital (valuation) rarely last forever.
b) historically M&A market had been a solution.
c) buyers need a multiple gap to consolidate in size/frequency.
a) lagging cost of capital (valuation) rarely last forever.
b) historically M&A market had been a solution.
c) buyers need a multiple gap to consolidate in size/frequency.
Compressing P/NAV valuations 
Lack of ev/dacf gap between large and smaller producers
