Senior Staff Writer
Large service companies seeking new technologies and markets are expected to drive active merger and acquisition activity among service contractors and equipment suppliers this year, although activity has slowed since the first quarter, Deloitte LLP said its midyear Oil & Gas Mergers and Acquisitions report.
Service companies seek to fulfill the needs of exploration and production companies as operators move into deeper water and learn to become more efficient producers in shale plays. In natural gas plays particularly, profitability increasingly is being controlled through cost efficiencies.
"Private equity firms and large oil field service co...