Sayer Energy Advisors

What Sayer Energy Advisors does

Sayer Energy Advisors is a privately held, Calgary-based advisory firm founded in 1987 by Frank Sayer, operating as a division of Sayer Securities Limited. The firm provides M&A and corporate advisory services exclusively to the Canadian oil and natural gas industry, with a practice that includes sell-side and buy-side representation, property and corporate divestitures, corporate valuations, fairness opinions, expert-witness work, strategic partnerships, joint ventures, shareholder-value analysis, corporate restructurings, and income trust conversions. The leadership team is anchored by President Tom B. Pavic (CFA), who joined in 1999 and became President in 2020 and is personally associated with over $5 billion of cumulative M&A transaction value, and Vice-President Ben Rye (P.Geo.), who joined in 2012. The firm also operates Sayer Publications, which produces the Canadian Oil Industry M&A Report, Quarterly Review, Asset Sale Listing (weekly), Financing Listing (monthly), and Sayer's Viewpoint newsletter (quarterly), plus custom research engagements.

The firm's technology foundation is a proprietary transaction-level database covering 30+ years of every Canadian oil and natural gas M&A and financing transaction, including both public and private deals. This dataset, combined with senior-led execution (a stated "low work fees, no break fees" contract structure) and an in-house research operation feeding weekly, monthly, and quarterly publications, is the firm's core differentiator. Distribution is driven by media presence (regular citations in The Canadian Press, Reuters, Calgary Herald, and Financial Post), industry columns in the Daily Oil Bulletin, the free Sayer's Viewpoint newsletter, and a public "Current Offerings" page of live divestiture mandates.

Sayer's revenue model mixes episodic professional services (success fees on completed M&A mandates) with recurring subscription revenue from publications and bespoke research fees from custom engagements. Customer concentration is intentionally diversified across Western Canadian E&P operators of varying size (Zargon, Perpetual Energy, Briko, Sheffield Energy, Canadian Abraxas, Onyx 2006, EMM Energy, Long View), plus institutional counterparties such as BDO Canada on insolvency mandates. The firm is privately held with no external institutional investors disclosed and operates from a single headquarters in Calgary, serving Western Canada.

Name

Sayer Energy Advisors

Legal name

Sayer Securities Limited

Website

https://sayeradvisors.com

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

11–50 employees

Short description

Sayer Energy Advisors is a Calgary-based, privately held advisory firm founded in 1987 that provides M&A representation, corporate advisory, and proprietary industry intelligence exclusively to the Canadian oil and natural gas industry, anchored by 30+ years of transaction data and weekly, monthly, and quarterly publications.

Ownership category

akta.pro rank

Product category

Energy M&A Advisory

NAICS

Management Consulting Services (54161)

SIC

Services-Management Consulting Services (8742)

akta.pro primary industry

M&A Advisory (Buy-side/Sell-side) (BPAHADAC)

akta.pro secondary industries

M&A Advisory (Buy-Side & Sell-Side) (BPAHAOAA), Industry-Specialist / Sector-Focused M&A Advisory (FSAEAGAJ), Fairness Opinions & Independent Financial Advice (BPAHAOAF)

Keywords

• Mergers acquisitions advisory
• Oil gas advisory
• Corporate divestiture services
• Energy industry research
• Fairness opinion services

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Corporate Advisory Services: Sayer Energy Advisors provides M&A advisory services including sell-side and buy-side representation, property divestitures, and corporate divestitures. The firm structures contracts with low work fees and no break fees, meaning their success is aligned with client outcomes. Revenue is generated through advisory fees on completed transactions.
2. Publication Subscriptions: Annual subscriptions to industry reports including the Canadian Oil Industry M&A Report ($1,600/year), Quarterly Review ($500/year), Asset Sale Listing ($1,500-$2,000/year depending on company size), and Financing Listing ($1,200/year). Additional revenue from single-issue sales and custom research engagements.
3. Corporate Advisory Engagements: Services include corporate valuations, fairness opinions, expert witness assignments, strategic partnerships and joint ventures, shareholder value analysis, corporate restructurings, and income trust conversions. Revenue generated through professional services fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Sayer Energy Advisors provides M&A advisory and corporate advisory services (sell-side and buy-side representation, property and corporate divestitures, valuations, fairness opinions, restructurings) to Canadian oil and natural gas companies. It also sells a portfolio of subscription publications and custom research that deliver independent analysis of M&A and financing activity in the Canadian upstream industry, drawing on a proprietary 30+ year transaction database.

Product overview

Sayer Energy Advisors is a Canadian oil and natural gas advisory firm offering two primary service lines: Corporate Advisory Services (encompassing Mergers & Acquisitions Advisory and Corporate Advisory) and Sayer Publications. The M&A Advisory service handles sell-side and buy-side representation for property and corporate divestitures. The publications portfolio includes the Canadian Oil Industry Merger & Acquisition Report (quarterly/annual), Quarterly Review, Asset Sale Listing (weekly), Financing Listing (monthly), Sayer's Viewpoint newsletter, and Custom Research offerings. Together, these products provide comprehensive market intelligence and transaction execution capabilities for the Canadian oil and natural gas industry.

Differentiator

Problem solved

Functional benefit

Products and services

• Mergers & Acquisitions Advisory Sell-side and buy-side representation, property divestitures, and corporate divestitures for Canadian oil and natural gas companies involved in M&A transactions.
• Corporate Advisory Services Corporate valuations, fairness opinions, expert witness assignments, strategic partnerships and joint ventures, shareholder value analysis, corporate restructurings, and income trust conversions for Canadian oil and natural gas clients.
• Canadian Oil Industry Merger & Acquisition Report Quarterly and annual subscription report providing comprehensive information and analysis on M&A activity in the Canadian oil and natural gas industry, including median prices, detailed transaction information, and market trends. Annual subscription priced at $1,600 (single issue $500).
• Canadian Oil Industry Quarterly Review Eight-page quarterly report summarizing M&A activity, with analysis on industry trends, median prices for reserves and production, enterprise values, and a complete listing of transactions valued over $5 million. Annual subscription priced at $500 (single issue $150).
• Canadian Oil Industry Asset Sale Listing Weekly publication providing all available divestiture information including bid dates, vendors, agents, descriptions of opportunities, daily production figures, and contact information for the Canadian oil and natural gas industry. Annual subscription ranges from $1,500 to $2,000 based on company size.
• Canadian Oil Industry Financing Listing Monthly publication monitoring private and public financing issues in the Canadian oil and natural gas industry, including type of issue, amount, market pricing, dealer/underwriter information, and fees. Annual subscription priced at $1,200 (single issue $110).
• Sayer's Viewpoint Free quarterly newsletter providing analysis of industry issues and trends in M&A and financing activity, distributed to subscribers in hard copy, email, or digital format.
• Custom Research Customized Canadian oil and natural gas merger and acquisition data, financial statistics, and analysis tailored to specific client needs, leveraging over 30 years of transaction database information and including multi-client studies on industry topics.

Quantifiable outcome

• Over $5 billion in M&A transactions completed
• +1 more outcomes

Named customers9 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators4 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• FirstEnergy Capital / Stifel FirstEnergy: FirstEnergy Capital was a Calgary-based boutique advisor focused exclusively on Canadian energy, now part of Stifel. It is a direct competitor in energy M&A advisory and equity research, sharing the boutique specialist model that distinguishes Sayer from bulge-bracket banks.
• Peters & Co. Limited: Peters & Co. is a Calgary-based independent investment dealer specializing in the Canadian oil and gas sector, providing equity research, sales and trading, and investment banking advisory. It is the closest direct competitor to Sayer in Canadian O&G M&A advisory, sharing the senior-led boutique model and sector focus.
• Tristone Capital / BMO Capital Markets Energy Group: Tristone Capital was a Canadian energy-focused boutique acquired by BMO. The combined platform competes directly with Sayer on upstream O&G M&A mandates, providing sell-side advisory alongside debt and equity capital markets capabilities.
• Scotia Waterous: Scotia Waterous is Scotiabank's energy M&A advisory group with deep specialization in oil and gas transactions, particularly upstream. It is one of the most comparable Canadian O&G-focused M&A advisors and competes with Sayer on sell-side mandates in the WCSB.
• Origin Merchant Partners: Origin Merchant Partners is a Toronto-based independent advisory firm focused on Canadian mid-market M&A. While not exclusively O&G, it competes with Sayer for boutique Canadian M&A mandates and shares the independent advisor positioning without underwriting conflicts.

Broad incumbents

• TD Securities - Energy Group: TD Securities has one of Canada's largest energy investment banking practices, advising on M&A, equity, and debt financings for upstream, midstream, and oilfield services clients. It competes with Sayer on larger mandates but does not match its sector-exclusive boutique positioning.
• RBC Capital Markets - Energy Group: RBC Capital Markets operates a global energy practice with significant Canadian O&G M&A advisory activity. As one of the largest Canadian banks, it competes for larger mandates where bundled financing matters, while Sayer competes on boutique specialization.
• Canaccord Genuity - Energy: Canaccord Genuity has an active Canadian energy practice providing M&A advisory and equity financing to O&G clients. As a mid-tier Canadian investment bank, it sits between Sayer's boutique model and the bulge-bracket energy groups in terms of scale and capabilities.
• CIBC Capital Markets - Energy Group: CIBC Capital Markets operates a dedicated energy practice serving Canadian and global oil and gas clients with M&A advisory, equity, and debt financing. As a full-service bank, it competes with Sayer on larger mandates while offering integrated financing Sayer cannot match.
• BMO Capital Markets - Energy Group: BMO Capital Markets runs a substantial Canadian energy advisory practice, now including the legacy Tristone team. It competes with Sayer on mid- and large-cap Canadian O&G M&A mandates while providing balance-sheet capabilities the boutique lacks.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/sayer-energy-advisors

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sayer Energy Advisors