By Michael Fitzsimmons:
As the shale revolution in the lower-48 continues full-steam ahead, competition for the most prolific acreage in plays like the Eagle Ford, Bakken, Marcellus, and Permian Basin is intense. The big money in most of these plays was made by early movers who snapped up properties at bargain prices compared with today's deals. As a result, acquisition focus has moved north into Canada's massive and largely undeveloped resources where some very large transactions have taken place over the last 12 months. The trend should continue as large US and international energy companies scour the world to secure oil and gas reserves for the coming decades.
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Reserves
According to the US Energy Information Agency ("EIA"), Canada is one of the world's five largest energy producers. Canada had 173.6 billion barrels of proven oil reserves as of the beginning of 2012 and controls the third-largest amount of proven
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