A total of 140 Equity Offering deals (pending and completed) were announced in the Oil & Gas of Canada, in the last twelve months resulting in a total deal value of over $3,702.0 million. In the LTM period, October 2021 turned out to be the most prolific in terms of deal size, with a total deal value of $804.2 million, resulting in an average deal value of $61.9 million during that month. On the other hand, the month of March 2022 was the most prolific in terms of deal volume, recording a total of 19 deals, resulting in an average deal value of $40.6 million during that month.
Of the 140 deals, the deal secured between Brookfield Asset Management Inc and Superior Plus Corp, was the largest Equity Offering deal in the Canada Oil & Gas sector, which was valued at $231.0 million and was completed on March 28, 2022. The second-largest deal was between Energir Inc; Valener Inc and Energir LP, while the third-largest deal was between Frontera Energy Corp and CGX Energy Inc. The Energir Inc; Valener Inc-Energir LP deal and the Frontera Energy Corp-CGX Energy Inc deal were valued at $101.6 million and $58.2 million, respectively. The fourth-largest deal was between Hydro-Quebec-Innergex Renewable Energy Inc valued at $39.7 million, whereas the deal between HQI Canada Holding Inc.-Innergex Renewable Energy Inc valued at $29.6 million was the fifth-largest deal.
Cumulatively, the top five deals amounted to $460.1 million and accounted for nearly 12.43% of the total deals (by value) announced during the last twelve months.
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