Replies to post #1802 on The Rising Influence of Rising Affluence

[DewDiligence]

HES—WSJ speculates that CVX, XOM, and (especially) STO may be interested in acquiring the whole company:

http://online.wsj.com/article/SB10001424127887324373204578376712363299652.html

Hess's portfolio would tick several boxes for Statoil. The Norwegian giant made a splash in 2011 when it agreed to buy Brigham Exploration for $4.4 billion. The acquisition gave Statoil positions it operated itself, as opposed to passive stakes, in the Bakken shale. Buying Hess would augment this and further Statoil's strategy of reducing its dependence on its home country, which in 2012 accounted for two-thirds of its output.

…Assuming a 30% takeover premium, Hess would carry a price tag, including assumed net debt, of about $39 billion. That would equate to a share price of about $91.

…if we strip out the $5.7 billion valuation Deutsche Bank puts on Hess's logistical, refining and marketing assets, then Statoil would be paying about $21 for each barrel of oil equivalent of proved reserves. That is less than what Statoil spends to find and develop reserves itself.