They also expect the activity to continue with the likely targets being minnows that have had trouble increasing production or have missed operational targets.
Energy trusts are by nature active buyers because they pay out the bulk of cash flow to investors instead of investing in exploration to replace depleting reserves.
"Oil is more than $35 a barrel, while most of these trusts had budgets premised on $25, so there is a lot of capacity out there to do more acquisitions," said analyst Brian Prokop of Calgary brokerage Peters & Co.
Petrofund
