Corporate week in brief: Total buys Maersk Oil and Gas for US$7.45 billion
Lead stories: Total beefs up its North Sea portfolio with the US$7.45 billion acquisition of Maersk Oil. Macro: Brent nudges up as US inventories continue to fall; hedging activity rebounds; oil and gas shares slide. Companies: Woodside sees new LNG growth on the horizon; BP's growth on track with latest project start-up; Elliott ups its stake in BHP Billiton to 5%; Shell provides another vote of confidence in Argentina's Vaca Muerta shale play; 2017 budgets trimmed by 3%. M&A: new US Mid-cap emerges with Silver Run acquisitions; successful IPO reinforces investor appetite for exposure to Mexico's E&P sector; more large-scale consolidation in the offshore rig market.
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Macro: Brent, hedging activity, oil and gas shares