The A&D market is currently home to three distinct trends: The large independents, such as Apache Corp.; the huge private equity firms, such as Kinder Morgan, who now find themselves in the business of buying companies as well as assets; and the master limited partnership (MLP). The North American oil and gas industry is also experiencing a strong presence of international corporations, such as Sinopec, Osaka Gas and CNOOC, which has offshore assets in the Gulf of Mexico and recently bought Canadian company Nexen for $15 billion.

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