US reserve values climb as acquisitions increase

US reserve values strengthened in 2001 along with rising acquisition activity compared with 2000 even though commodity prices declined last year, said Cornerstone Ventures LP's latest report. Click here to enlarge imageOil and natural gas merger and acquisition transactions that closed in the US during 2001 were worth $71.6 billion, a 12% increase from M&A transactions' aggregate deal value of $64 billion for 2000. The $55.1 billion Chevron Corp.-Texaco Inc. merger accounted for most of the 2001 aggregate deal value, the Houston-based investment banking firm said.Value changes"In terms of the per-unit value of domestic onshore oil and gas transactions, 2001 was characterized by a...

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