Oil and Gas Asset Acquisition as a Complement to Exploration
Jeffrey K. Barndt, Benjamin H. Bates, 2000. "Oil and Gas Asset Acquisition as a Complement to Exploration", International Oil and Gas Ventures: A Business Perspective, George E. Kronman, Don B. Felio, Thomas E. O’Connor, Mindy S. Kronman
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This chapter discusses the acquisition of an oil and gas asset as an alternate method to establish an exploration and production base in a new country or basin, with emphasis on the small- to medium-size independent oil and gas company. We describe the characteristics of a successful acquirer, the state of the merger acquisition and divestment market, and the acquisition process. Also, we describe a recent successful international acquisition program as a case study and attempt to provide insight into the future of the international oil and gas merger, acquisition, and divestment market.
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A “one-stop” business view on how to succeed in international exploration and production. Success in the international upstream arena requires more than the technical ability to find oil and gas. Relationships with governments and people, mutually beneficial contracts, workable strategies, and implementation plans are necessary to build strong, mutually beneficial, and profitable ventures. Key components that drive exploration and production in the global environment are examined. Specific topics include negotiating for success, contracts, the role of technology in international strategies, cross-cultural relationships, alliances, and international upstream financing. Authors from around the world, representing industry, governments, national oil companies, consultants, and academia, contributed their perspectives. Views are provided from both sides of the negotiating table, the corporate boardroom, the resident manager, the explorationist, the businessman, and the theoretician. Geoscientists, engineers, and negotiators, who are, or would like to be, involved in the global energy business will find this collection an important reference.