August 3 - Reuters - Fat wallets and limited opportunities elsewhere may continue to push acquisitions in Canada's oil sands region, analysts say, though soaring costs may leave the sector open to only the very biggest companies.
Earlier this week U.S. refiner Marathon Oil Corp. agreed to pay $5.56 billion for Western Oil Sands Ltd., an eight-year old firm whose only operating asset is a 20 percent stake in the Athabasca Oil Sands Project run by Royal Dutch Shell.
The agreement is the latest in a series of big-ticket deals that have extended the reach of some of the globe's biggest oil and gas players into the muskeg and forests of northern Alberta, where an estimated 174 billion barrels of oil lie trapped in sand, a resource second only to Saudi Arabia's. Read More.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment