M&A deal values plunge in 2002, study says

Global energy merger and acquisition transaction values dropped to $46.1 billion in 2002 compared with $81.8 billion in 2001, said consulting company John S. Herold Inc., Norwalk, Conn.Herold attributed the sharp decline to the absence of mergers between large majors. Excluding the Conoco Inc.-Phillips Petroleum Co. merger, 2001 transaction value was $55.9 billion—21% above the 2002 level."US implied reserve values dipped to $6/boe from the record high $6.99/boe in 2001 but remained at historically strong levels. US deal value and deal count fell to a 5-year low, although activity in the Midcontinent and onshore Gulf Coast remained strong," said Christopher Sheehan, Herold analyst a...

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