also recently merged with Pipestone Energy Corp. Canada's largest natural gas producer - said it would purchase privately held Bonavista Energy Corp. The latest headline-grabbing deal was announced Monday, when Tourmaline Oil Corp. Since the start of the year, there have been a number of billion-dollar-plus deals struck in the Canadian energy sector, including Crescent Point Energy Corp.'s $1.7-billion purchase of Spartan Delta Corp.'s Montney oilfield assets, ConocoPhillips' approximately $4-billion purchase of TotalEnergies' Surmont oilsands project, and Suncor Energy Inc.'s $1.47-billion acquisition of Total's stake in the Fort Hills oilsands mine. A wave of high-profile mergers and acquisitions in the Canadian oilpatch is a sign of an industry that is flush with cash and increasingly confident in the short- and medium-term outlook for fossil fuels, experts say.
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