The Global Oil Glut Gets Uglier

by Wolf Richter
Wolf Street

Forget the Recovery and “Rebalancing” Hype.

Deal makers in the oil patch of the US and Canada are smelling the fees, and they’re firing up the machinery. In the first half of the year, there were 52 pending and completed acquisitions of oil & gas exploration & production companies valued at $100 million or more, for a total of $30 billion, Fitch Ratings reported today:

The rise in transaction volume seems to be largely due to the improvement in hydrocarbon prices, including the tightening of bid/ask spreads, and access to capital markets.

Continue Reading at…