The Globe and Mail reports in its Monday edition that scale has become the dominant buzzword in the boardrooms of Canadian oil and gas companies. The Globe's Jameson Berkow writes that merger and acquisition activity was already starting to advance in Canada's oil patch when, south of the border, Exxon Mobil bought Pioneer Natural Resources and Chevron bought Hess in two historic transactions worth a combined $112-billion (U.S.) earlier this month. Now, with lots of cash, little debt, rising stock prices and a need to keep up with the Joneses, Mr. Berkow says Canadian oil companies are going shopping. BMO energy M&A head Adil Kiernay says: "We are very active today and, frankly, we are as active as we have been in a very long time. But I also see the trend accelerating." The Globe says mid-sized producers such as Surge Energy, Kelt Exploration and Advantage Energy are seen by analysts as the most likely targets in the weeks and months ahead. Larger players such as Whitecap Resources and ARC Resources are among those expected to be doing the targeting. TD analyst Scott Barron says it has become rare for him to have a conversation with oil and gas clients "where M&A doesn't dominate the conversation."