Noble Energy's deal Monday to purchase Rosetta Resources for $2.1 billion could signal a flurry of merger and acquisition activity ahead as oil prices recover.
Exploration and production companies with good assets but poor balance sheets are especially ripe for takeovers, said Gabriele Sorbara, analyst at Topeka Capital Markets.
"Everybody in the E&P space with high-quality assets is for sale," he said.
He named Oasis Petroleum (OAS), which has assets in the Bakken formation, and Laredo Petroleum (LPI), which has assets in the Permian Basin, as buyout possibilities.
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OAS a top Takeover Target
OAS a top Takeover Target
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group