Company News: Merger activity still in full force among oil, gas firms

07/09/2001
Click here to enlarge imageMerger and acquisition activity among oil and gas companies remains a strong trend in the industry. Most notably, M&A activities have centered on US firms vying to acquire Canadian companies in an effort to establish a presence in Canada.In recent US-Canada merger action:Dallas-based Hunt Oil Co. agreed to acquire Chieftain International Inc., Edmonton, Alta., for $600 million, or about $915 million (Can.). The deal marks the most recent of several Can- adian acquisition attempts for the privately held Hunt Oil.El Paso Oil & Gas Canada Acquisition Inc., a unit of El Paso Corp., Houston, agreed to buy Calgary-based Velvet Exploration Ltd. in a $280 million (US)...
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