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Article: $21 Billion of Oil and Gas Deals Announced Third Quarter 2009.(Financial report)
- Article from:
- Energy Weekly News
- Article date:
- October 16, 2009
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PLS, Inc. ("PLS") in conjunction with its international partner Derrick Petroleum Services ("Derrick") reports that Global M&A activity for the 3rd Quarter 2009 totaled nearly $21 billion in 112 separate transactions. According to Brian Lidsky, Managing Director of Research at PLS, Inc., "Oil and gas deal volume increased markedly beginning in late August 2009 due to a confluence of events. These include: 1) a growing consensus that the economy bottomed in the 2nd quarter 2009 and a recovery is under way, 2) price stability of oil in the $65 - $75 per barrel range, and 3) a dramatic drop of U.S. natural gas prices in late August - early September towards the $2.50 range ...