The Financial Post reports in its Wednesday edition that a wave of high-profile mergers and acquisitions in the Canadian oil patch is a sign of an industry that is flush with cash and increasingly confident in the short- and medium-term outlook for fossil fuels. A Canadian Press dispatch to the Post reports that since the start of the year, there have been a number of large deals struck in the Canadian energy sector, including Crescent Point Energy's $1.7-billion purchase of Spartan Delta's Montney assets and Suncor Energy's $1.47-billion acquisition of Total's interest in the Fort Hills oil sands mine. The latest deal was announced Monday, when Tourmaline Oil said it would buy Bonavista Energy for $1.45-billion. Strathcona Resources also recently merged with Pipestone Energy in an all-stock deal, with the merged company expected to be the fifth-largest oil producer in the country. Sayer Energy says M&A activity in the Canadian energy sector has totalled $12.7-billion since the start of 2023. While that is less than the $15.2-billion and $17.9-billion the sector saw in 2022 and 2021, it is occurring at a time when the Canadian oil patch has now benefited from two years of strong commodity prices.