Economy Woes, Oil Companies Go On Auction Blocks

Right now, the oil industry is enduring on of its weakest prolonged periods in recent memory. With the emergence of fracking and easier, cheaper extraction of natural gases throughout the United States, oil producers have their hands tied with how to handle the situation. With limited access to capital, many producers are being forced to sell assets or, in some cases, sell the business.

The number of mergers and acquisitions is up hugely this year, far outpacing what we’ve expected to see in the past, though the bulk of this comes from the purchase of Canadian Oil for over $8 billion.