The Financial Post reports in its Wednesday, April 10, edition that according to BMO Capital's Brad Wells mergers between major Canadian energy producers that enhance cost-efficiencies and increase scale would likely receive investor support. A Bloomberg dispatch to the Post reports that although Canadian companies are in a position to carry out such deals, the need to add drilling inventory that drove Exxon Mobil to offer $60-billion to buy Pioneer Natural Resources and Chevron to pursue a $53-billion acquisition of Hess is not a factor in Canada. Oil sands firms in Canada have an abundant supply that lasts for decades, reducing the pressure to transact and allowing them to be opportunistic. Thus, it is difficult to predict when such a deal may happen. Mr. Well says, "It all comes down to what it looks like: the economics, the strategic rationale, the pro forma business and balance sheet, the price being paid." Smaller deals already have been happening in Canada. BMO advised Crescent Point Energy on its $2.05-billion acquisition of Hammerhead Energy in December. The bank is also advising Enerplus on a $3.57-billion takeover offer by U.S. driller Chord Energy, announced in February.