"The super majors have money, motive and opportunity and some of our larger Canadian companies appear vulnerable." As of June 30, 2008, Exxon Mobil Corp., Royal Dutch Shell PLC, Total S. A., and Chevron Corp. collectively have about US$65-billion in cash, with more pouring into their coffers at current oil prices.
Conoco
Depressed Canadian oil giants ripe for takeover
Hillbillies making millions out of American gas rush
The world's biggest natural gas exploration companies, including Shell, Conoco, Chesapeake, Petrohawk and EnCana, have descended on the vast area between the Arkansas border and Shreveport, Louisiana, to tap what most experts agree is a reservoir of about 240 trillion cubic feet of gas.
TALES OF THE TAPE: High Prices Keeping Lid On Big Oil Deals
BP's announcement came three days after rival Royal Dutch Shell PLC (RDSA) announced a near-$6 billion takeover bid for Canadian natural-gas producer Duvernay Oil Corp., also considered a top-dollar move.