In short: Named as the "one big standalone deal" of Q2 (Shell/ARC) — the headline transaction in a record M&A run (~$30B in 2025) with eight other >$100M deals.
30:29You see Shell now coming with ARC. These are some major deals here and it's just because this inventory is very competitive relative to a lot of the plays that those companies have elsewhere. So last quarter or last year was one of the biggest M&A years that we saw about $30 billion worth of M&A versus prior years going all the way back to 2017 2018.
In short: Not owned — pass. Same answer as NuVista; a buyer of Waterous's Montney gas (with CNQ/Tourmaline). Fine business, wrong side of Smead's oil-over-gas preference.
43:20I mean, like that's not where we see the opportunity. Um, if we wake up at a time and people have decided, oh, look, oil stocks have done better. Let's overpric those relative to gas. I'm sure we could come back to those. again if if if someone said what's the number one stock I'd want to own in that space termine okay because you got a great capital allocator there um but we don't own that stock and I say that'd be the first place I'd go um you know it is it is a big liquid stock someone could say well cool that's highly liquid and I agree um
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