Infill Thinking Lifting the O&G knowledge curve
Reports out late-last week suggested two significant offshore drilling M&A deals were in the making. One of the deals was confirmed Monday morning.
The two deals are spearheaded separately by former partners John Fredriksen and Tor Olov Troim.
Fredriksen’s deal is deepwater, Troim’s is a shallow water play.
John Fredriksen left, Tor Olav Troim right
M&A, particularly among the US established drillers, has been kept at bay throughout the downturn by the extreme uncertainty in the marketplace. Is that changing now? Norwegian entities led by Fredriksen and Troim have been first movers at key market turning points over the past several cycles. Their bids could motivate other buyers to get in on the action or risk being left behind.
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