M&A at $60 - what happens next?

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17 December 2014

M&A at $60 - what happens next?

Report summary

Uncertainty and corporate distress create opportunities for companies with the appetite and capacity to take advantage. Weak oil prices through 2015 (Wood Mackenzie expects Brent to average US$73.80/bbl), will ratchet up the pressure on a financially stretched sector. Expect to see falling deal valuations and the emergence of a true buyers’ market. Large scale corporate consolidation may be closer than it has been at any point since the late 1990s.

Table of contents

  • What happened last time?
  • Emergence of a buyers’ market?
  • Corporate consolidation looms
  • The Majors are weighing up opportunistic consolidation
  • The NOCs are primed to take advantage

Tables and charts

This report includes 3 images and tables including:

  • Deal count vs. Brent forward month (US$/bbl) vs. ILTOP (US$/bbl)
  • Average Brent price required through 2015 to maintain current net debt (US$/bbl, NPV10)
  • Implied long-term Brent price in current market valuations (US$/bbl, NPV10)

What's included

This report contains:

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