US reserve values rise as acquisition activity declines

04/30/2001
Click here to enlarge imageUS reserve values rose in the second half of 2000, despite the slow pace of merger and acquisition (M&A) activity, according to Cornerstone Ventures LP's latest report.US oil and gas M&A transactions that closed during 2000 were worth a total of about $64 billion. Included in that total were BP Amoco PLC and ARCO's $25.6 billion merger, and Anadarko Petroleum Co. and Union Pacific Resources Group Inc.'s $12 billion merger. This is a 30% decrease from 1999's revised aggregate deal value of $94.3 billion, in which Exxon Corp. and Mobil Corp.'s $81 billion merger took the lion's share of the aggregate value, according to the Houston-based ...
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