COMPANY NEWS: Kerr-McGee to buy HS Resources for $2.15 billion

The consolidation trend between major energy companies and independent exploration and production companies would appear to be picking up some momentum.Early last week, Kerr-McGee Corp., Oklahoma City, said it will acquire San Francisco-based HS Resources Inc. in a cash and stock deal valued at $1.7 billion. The sale price includes the assumption of $450 million in debt.Kerr-McGee's move to buy HS Resources follows close on the heels of the announcement made earlier this month by Williams Cos. Inc., Tulsa, to acquire Denver-based Barrett Resources Corp. (OGJ, May 14, 2001, p. 38).Another consolidation trend has reemerged among service and supply companies:Weatherford International Inc...

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