Energy Bankers Get a Hot Meal
May 17, 2016
In merging, Range Resources and Memorial Resource Development have thrown each other a lifeline and starving energy bankers a bone.
I wrote here about how Range’s takeover of Memorial, structured as an all-stock deal, was like a disguised equity issuance to bolster the balance sheet. At $4.4 billion, it is also the largest deal between twoย North American exploration and production companies since Encana bought Athlon Energy for $6.8 billion in late 2014, Bloomberg data show.
BloombergGadfly, May 17, 2016
Michelle Foss, Chief Energy Economist, Bureau of Economic Geology, Jackson School of Geosciences