Even as oil prices were down more than 40% in the fourth quarter, transactions were robust.
Flat commodity prices are likely to transform the industry.
MEO Australia has advised its shareholders to stand their ground in the face of a revised offer in Mosman Oil and Gas’ unsolicited takeover attempt of the struggling Melbourne company.
The settlement resolves claims Freeport-McMoRan overpaid McMoRan Exploration Co. and Plains Exploration & Production Co.
The combination creates one of the largest gathering and processing systems in the Haynesville and Cotton Valley plays.
A major focus of cuts has been U.S. shale properties, given the typically high degree of flexibility in shale budgets, Fitch Ratings says.
The newly formed company will operate more than 300,000 net acres in the Appalachian.
Risk from falling commodity prices might cause bondholders to exercise their cash options.
Capex cuts continue to edge higher, with analysts estimates of 25-37%.
Talisman lost more than half of its value this year and was propped up by Repsol’s huge offer.
Complementary acreage positions create an upstream industry leader in East Texas.
Combined, the companies would have a presence in more than 50 companies with 7,000 employees.