Acquisitions & Divestitures

Recent E&P joint-venture or acquisition targets by integrated oil and gas producers have at least one senior E&P research analyst questioning whether these hurried deals to replace depleting reserves might not have less upside for the buyers than the E&P targets. But as it appears that the integrated producers face a stiff reserve-replacement challenge due to poor E&P strategies in the past decade, the analyst, Bernstein Research’s Neil McMahon, has at least three potential targets that make sense and money for both parties.

“Quite simply, if you have cut back ...