Welligence North America Q3 2025 M&A Quarterly | MEG Energy takeover is the highlight, LLOG could be next
October 14, 2025
In Q3 2025, one major deal was announced in the Canadian Oil Sands with Cenovus reaching an initial agreement to acquire MEG Energy. Activity in other regions was subdued as the market continues to slow. Increased volatility and weaker commodity prices have widened the buyer-seller gap, creating an unfavorable environment for upstream transactions.