The Globe and Mail reports in its Wednesday edition that Strathcona Resources is set to make its 10th acquisition in less than seven years, picking up a rival energy company in a move that bucks market trends as it prepares to go public. The Globe's Emma Graney writes that on Tuesday, Strathcona announced plans to acquire Pipestone Energy in an all-stock deal that will create Canada's fifth-largest oil producer. The combined company will have a market capitalization of $11.5-billion, including debt. Pipestone was formed in 2019 when privately owned Pipestone Oil Corp. merged with Blackbird Energy Inc. Calgary-based Strathcona was formed in 2020 through the merger of two companies backed by Waterous Energy Fund -- Strath and Cona. In 2021, it bought a large stake in producer Osum Oil Sands to help maintain access to capital through size, and last year it acquired private equity-backed Serafina Energy for $2.3-billion. Canadian fossil fuel companies have generally been tightening their fiscal belts of late by reducing capital spending, focusing on debt repayment and, in some cases, shedding assets; Strathcona's game plan is all about consolidation. It has plays in Cold Lake, Lloydminster, North Battleford and Montney.