. I can't say for sure at the current time although I'd be willing to bet that every CDN independent (ECA, TLM, CNQ, NXY, PWT, SU) all enjoy support from down south much greater than 17%. And their multiples typically lag their U.S. peers (APC, APA, DVN, etc)"
I was always wondering about why there isnt much of cross-state arbitrage, eg. US companies buying CAD companies for lower multiples or CAD companies getting listed on US stock exchange. Companies listed on US stock exchange usually have slightly higher multiples, even when operating in third world countries, if compared to companies listed in Vancouver or Toronto. I am sure you will even find out more 5 percent or more high yielders in Canada then in US.
And I am still wondering why nobody setuped activists hedge fund in order to force companies to list in the US. Shoulda, woulda, coulda, If I had enough money, better engrish, I would be just doing that by myself, lol.