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Article: Making waves. (North Sea oil prices)
- Article from:
- The Economist (US)
- Article date:
- March 18, 1989
CopyrightCOPYRIGHT 1989 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The North Sea Making waves
THE North Sea is fast becoming oil companies' favourite spot for a dip. In early March Britain's Enterprise Oil paid $1.4 billion for the North Sea interests of Texas Eastern, and American energy company. The deal will make Enterprise by far the biggest specialist oil-exploration-and-production firm in the world. "We like the North Sea"' says Mr Graham Hearne, its chief executive.
So do others. At the end of February London & Scottish Marine Oil paid 358m [pounds] ($625m) for the North Sea oil interests of International Thomson Organisation, a Canadian publishing group. Last year's biggest deal saw Britoil, then Britain's ...