Three Oil Stocks to Watch as M&A Interest Returns


By: Ian Cooper
10:04 04/24/2019

Energy M&A may have ground to a halt in early 2019 thanks to plunging oil prices.

However, as oil prices begin to recover on the latest Trump and Iran news, we’re seeing a return of respectable M&A in the sector.

Weeks ago, Chevon (CVX) announced an offer to buy Anadarko Petroleum (APC) in a cash and stock deal valued at $33 billion. That valued APC at $65 a share. However, Occidental Petroleum (OXY) just bid $76 a share for Anadarko Petroleum, which includes a half cash offer of $38 a share, and half stock offer.

With M&A likely to pick up momentum, we’ve found three companies to watch in 2019.

No. 1 – Northern Oil & Gas (NOG) last traded at $2.86

The company is engaged in the acquisition, exploration, development and production of oil and natural gas properties, primarily in the Bakken and Three Forks formations within the Williston Basin in North Dakota and Montana. Better, according to SunTrust analysts, the company is the largest non-operator in the Williston Basin. With Bakken oil returns improving, analysts see further upside potential. In fact, SunTrust analysts have a target of $5.

No. 2 – Oasis Petroleum (OAS) last traded at $6.76

Oasis Petroleum Inc. is an independent exploration and production company that focuses on the development of onshore unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin and the Texas region of the Delaware Basin.

No. 3 – Transocean Inc. (RIG) last traded at $9.44

Transocean Ltd. provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers drilling rigs, related equipment, and work crews; and ultra-deep water and harsh environment drilling services.


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