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Business News of Monday, 12 October 2009 |
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Exxon's reported Ghana move juices deal talk
Reports of a $4 billion acquisition by Exxon Mobil (XOM 69.27, +0.22, +0.32%) in Ghana drew positive comments on the energy sector on Wednesday from Houston-based research firm Tudor Pickering Holt.
Although the oil major has yet to confirm the transaction, the possible move lends stature to West Africa as a new frontier for the oil majors. The reported acquisition will, "reignite a 'what's next' discussion for Exxon and majors," Tudor Pickering Holt analysts said.
"Who wins when Wall Street thinks about majors and mergers and acquisitions? Big cap exploration (names) with lots of optionality - Anadarko Petroleum (APC 67.39, -0.48, -0.71%) , Devon (DVN 68.40, -0.62, -0.90%) , Noble Energy (NBL 70.67, +0.30, +0.43%) and resource-heavy EnCana (ECA 60.26, +0.43, +0.72%) and Occidental Petroleum (OXY 79.54, -0.55, -0.69%) ."
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