Exploration & Production | Deals - Acquisition, Mergers, Divestitures
Repsol Picks Up an Ailing Talisman
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Talisman Energy has agreed to be purchased by Repsol for $13 Billion US, $15.5 Billion Cdn, according to a report from the Canadian press.
Talisman shares have gained 82.95% from takeover rumors in the last five days. The lower price of oil has made Talisman a cheaper buy than a year ago, its stock down 28.7% over last year.
Repsol said the purchase will increase Repsol's output 76% to 680,000 boepd, and boost reserves 55%.
Companies with high debt will likely continue to see pressure to merge as low oil prices continue.
US crude is down more than 47% over the past six months.
Assets
Marcellus Shale Asset
Eagle Ford Shale Asset
Chauvin Asset
Greater Edson Asset
Duvernay Shale Asset
Columbia Asset
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Source: Talisman November investor presentation via Petroleum Research
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