Energy M&A

The landscape for the oil service industry is shifting.  The changes are reflected in this week's industry M&A activity and revelations about company strategies - both producers and service companies.  The Suncor/Petro-Canada $18 billion merger received the lion's share of investor focus with the logical follow-on question being whether this would be the start of an industry consolidation phase as we experienced in the late 1980s and 1990s.   =>Continue Reading

This morning Suncor and Petro-Canada announced plans to merge in a stock-for-stock transaction valued at $15 billion.  With the assumption of $3 billion in debt, the total transaction is valued at $18 billion.  This deal is the 5th largest global M&A transaction this year and the 6th largest Canadian deal ever.  It is the 10th largest oil and gas merger ever and the largest energy deal since December 2006 when Norsk Hydro and Statoil ASA agreed to merge in a deal valued at $30 billion. =>Continue Reading

Emerson has agreed to acquire Norwegien oilfield service company, Roxar ASA, for 5.30 crowns, or approximately $179 million.  Shareholders holding 41% of the outstanding shares have agreed to support the transaction.  Emerson will assume $212 million of Roxar debt as part of the transaction.  =>Continue Reading