Andrew Willis, today at 7:01 AM EDT
Speculation on oil patch monster deal has taken a new twist, with talk of a Canadian-buys-Canadian deal pushing aside foreign takeover speculation.
Domestic energy companies have long been seen as targets for cash-rich global players that want to lock in reserves. The Royal Dutch Shell purchase of its Canadian subsidiary is expected to mark the first step in a larger consolidation.
In the past week, talk has shifted from ‘who will BP and Chevron buy?’ to ‘Is there a Canadian team with the moxie to create a national champion?’ (Chevron, by the way, filed the paperwork needed for a massive financing a few months back.)
The company most frequently mentioned as a target is Talisman, known to be considering a restructuring. Performance pressure is coming from the shareholder ranks, as raider Carl Icahn filed paperwork as a passive investor last month. Mr. Icahn will have to update that filing in the next few weeks. Talk on trading desks is Mr. Icahn has been buying more Talisman stock and may switch to an activist role, demanding a bust up of Talisman.
While Talisman has decent properties, any CEO looking to build a top-tier energy company knows the real jewel of the oil patch is Suncor, where CEO Rick George has built a top-quality play on the oil sands.
However, a merger involving Suncor poses enormous challenges. It commands a premium valuation, which makes the financial terms of the deal daunting for a prospective partner, and a deal stands a good chance of kicking off a rival bid from one of the global players. BP is seen as coveting Suncor.
Finally, Nexen has long been viewed as a company with quality properties that’s not quite big enough to survive as an independent.
Who are likely buyers these days? In Canada, the list of top-tier energy companies is depressingly short. EnCana is finding its feet under a new CEO and knows the oil sands cold. PetroCanada could step up, and like Cameco and CN Rail, the former Crown corporation has a share structure that ensure the head office stays in Canada. And Canadian Natural Resources guiding light Murray Edwards has never lacked for ambition.
Oil company takeovers are coming, and one member of this trio just may be a buyer.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
