Seismic reflections: Take me out

In our North Sea sector report Northern Lights, published in March 2011, we focused on 12 North Sea players. Since then, half these companies have been involved in takeover bids or strategic reviews, demonstrating the level of M&A activity occurring in the North Sea. As we mentioned in Seismic Reflections: Funding troubles, M&A bubbles in January 2012, we continue to believe further consolidation in the sector will occur, with the industry capitalising on the disconnect between current market values and fundamental asset valuation.

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