Logan Energy Explores Sale Amid Canadian Oil Deal Resurgence

Logan Energy Corp., a Calgary-based oil and gas producer, is exploring strategic options including a potential sale, according to people familiar with the matter. The company is working with financial advisers to solicit buyer interest, though no final decision has been made and Logan could remain independent. Logan shares fell 1.5% to close at C$1.30 in Toronto trading Thursday, valuing the company at about C$899 million ($642 million). The stock has gained 63% over the past year. Representatives for Logan did not respond to requests for comment. The move comes amid a pickup in Canadian energy dealmaking, driven by Prime Minister Mark Carney's favorable stance toward the fossil fuels industry and vows to accelerate permits for major projects. Shell Plc closed its $13.6 billion purchase of ARC Resources Ltd. in September. Logan was formed through Spartan Delta Corp.'s 2023 spinout of early-stage Montney assets, which produced nearly 17,000 barrels of oil equivalent per day in the second quarter.