ExxonMobil: The Tiger On The Prowl

Although oil majors are set to announce weaker fourth quarter financial results as a consequence of lower oil prices, those that are cash-rich could be poised to benefit from depressed stock valuations in 2009 through M&A. As we highlighted in the past there is a strong potential of transformative M&A deals as a number of junior producers need the cash to develop oil and gas reserves, while the five majors have the cash but need the reserves. But which major will make the first move?

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