Oil price bloodbath to spark energy sector buying spree
20.12.2014
LONDON (Reuters) - Large oil companies flush with cash are expected to seize on the recent collapse in oil prices to begin a shopping spree for smaller rivals, focussing on oil producers and explorers in Africa, Asia and the United States...
Repsol's move this week to buy Talisman Energy , Canada's fifth-largest independent oil producer, for $8.3 billion was seen as a harbinger of things to come...
Oil services companies are also on buyers' radars.
Halliburton Co has already swooped on U.S. peer Baker Hughes Inc in a $35 billion deal, but French seismic surveys company CGG remains a target for buyers after a failed acquisition attempt by Technip...
European oil majors BP and Royal Dutch Shell have both said in recent weeks that the low oil price presents buying opportunities despite being in the midst of cost-cutting drives...
High-quality assets in the Baaken, Permian and Eagle Ford regions will be the most sought after, according to Bobby Tudor, chief executive of U.S investment bank Tudor Pickering Holt & Co.
"Buyers can afford to be very picky," he said.
https://uk.news.yahoo.com/oil-price...-buying-spree-133306216--finance.html#WuMVLkg
