mergers and acquisitions

Executives from several service companies involved in the offshore space—including two sides of a recent hostile takeover bid—came together at OTC to discuss the virtues of collaboration and rationale behind M&A.

McDermott’s board of directors rejected an acquisition offer from Subsea 7, which called for McDermott to abandon its planned $6-billion combination with CB&I. McDermott’s special meeting of stockholders, which was scheduled earlier to address the CB&I deal, will be held on 2 May.

A pair of Permian pure-play operators are consolidating to form a regional drilling and production powerhouse.

Schlumberger and Subsea 7 want to form a joint venture that builds on their 2-year collaboration in the subsea sector.

Oil industry acquisitions appear ready to increase in 2018 and shift from survival strategies toward growth objectives, according to key business observers at global professional services firm EY.

Two old school operators and a financial change agent embody a new era for the US onshore industry. Their CEOs convened at the NAPE Global Business Conference in Houston to explain why.

With portfolios that in some cases look dramatically different from a few years ago, the majors now have the ability to think about long-term upstream growth through deal making.

With their newly refined portfolios, operators are looking toward growth in the coming years but will remain cautious given ever-changing industry economics.

Emerson will increase its foothold in the oil and gas industry with the purchase of software maker Paradigm.

The demand for water and disposal services in the Permian Basin has piqued the interest—and investments—of companies eager to acquire existing pipeline infrastructure and saltwater disposal facilities to capitalize on the growing need.