Strategic Visions, Merger Actions
It's Not Only Size that Matters
It's called "merger mania," and in today's petroleum
industry, it's probably unavoidable.
Do you work for a major corporation? A growing independent? A small
firm trying to make a name for itself?
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It's called "merger mania," and in today's petroleum
industry, it's probably unavoidable.
Do you work for a major corporation? A growing independent? A small
firm trying to make a name for itself?
No matter the size of the company -- you've probably
been affected by it, either directly or otherwise. Mergers and acquisitions
have become an important business strategy in the oil business.
But while the trend transcends all size barriers,
and mega-mergers like Exxon/Mobil, BP/Amoco/Arco and Chevron/Texaco
grab all the headlines, it's independent operators that have reshaped
themselves and the domestic oil business through mergers and acquisitions.
Each company has its own unique criteria and ultimate goals for mergers
or acquisitions, but the end result is all about growth.
At this year's AAPG annual meeting in Denver executives
with a group of diverse oil companies presented their firms' strategies
in the mergers and acquisition arena. The management session, chaired
by then-AAPG President Marlan Downey and John Brooks, included speakers
from the largest multi-national companies as well as independent
firms of all sizes.
Among the stories were how independent companies have used strategic mergers
and acquisitions to become dominant players on the domestic and
in some cases international scene.
Here are three of those stories.
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