Fraud is increasingly a driver of corporate financial distress and, therefore, a part of our practice. Inside is a chart showing the sentencing range imposed in recent major Canadian commercial fraud cases.
The Permian Basin was producing under 1.5 million barrels per day in 2013 and is now expected to reach 2.5 million bpd in 2017. Private equity investment in the region has also grown, with roughly $28 billion in PE deals announced in 2016 alone.
Fracking and related service companies are getting busier in Alberta as the oil and gas industry in general appears to be responding to improved energy prices. But, be cautious. This is just the beginning of the rebound and it may be a long, slow recovery to industry wide sustainable profits.