As the costs of producing oil grow and the places to hunt for new reserves shrink, Big Oil is willing to pay more for oil and gas resources. Investors, take note.
In June, Australia's BHP Billiton (BHP, news) bought U.S. tight shale oil and gas producer Petrohawk. In July, China National Offshore Oil Corp. (CEO, news) (883.HK) bought Canadian oil sands producer Opti Canada. This week, Norway's Statoil (STO, news) (STL.NO in Oslo) bid to acquire U.S. oil shale producer Brigham Exploration (BEXP, news).
See a pattern here?
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