Posts filtered on Tag
The world’s largest offshore operator is also cutting back its workforce and consolidating most of its support functions in Houston.
During the second quarter, analysts at PwC tracked 47, $50 million-or-larger oil and gas deals, totaling $38.8 billion.
BP CEO Bob Dudley says he doubts there will be a surge of corporate consolidation in the energy industry – effectively a repeat of the mega deals in late-1990s bust that created mammoth oil firms – unless oil prices stay low for long.
Oil prices may rebound, but volatility is here to stay, ConocoPhillips CEO Ryan Lance predicted Monday.
Sellers will be companies handicapped by heavy debt and lacking the cash reserves or hedging contracts that would have provided some insulation from the market crash
Upstream oil and gas companies are waiting out volatility in the commodities markets right now, but many are expected be on the hunt for acquisitions after the dust in the crude market settles, according to an analysis by energy consulting firm Wood Mackenzie.
With oil prices at their lowest point in years, the rate of mergers and acquisitions is slowing and oil firms are pulling back on international investments.
First-quarter oil and gas deal-making in the U.S. reached its highest level in more than a decade, as Big Oil companies discarded assets to focus on their core operations.
Mergers and acquisitions deal values declined by more than 20 percent last year, coming in at $337 billion, down from $423 for 2012, according to an EY study on global oil and gas transactions issued earlier this week.
The Eagle Ford Shale was home to $8.8 billion in upstream oil and gas deals in 2013, the largest value in the country, according to a new PLS report.