Company News: Two big deals involve North American E&P, drilling firms

09/10/2001
The fevered pace of merger and acquisition activity in the North American upstream oil and gas industry continues with the announcement last week of two multibillion-dollar deals.Devon Energy Corp., Oklahoma City, said it will acquire Calgary-based Ander- son Exploration Ltd. in a $4.6 billion deal that will give it the most North American oil and gas reserves of any independent, Devon said.Meanwhile, Global Marine Inc., Hous- ton, and Santa Fe International Corp., Dallas, said they plan to merge in a stock-for-stock transaction that will create the world's second largest offshore drilling contractor. Transocean Sedco Forex Inc., Houston, is the largest offshore drilling contractor.De...
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