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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (32009)	9/3/2009 5:20:23 PM
From: E_K_S	Respond to of 78711

Seadrill May Seek Merger With Pride as Focus Switches (Update4) bloomberg.com From the article:"... Sept. 3 (Bloomberg) -- Seadrill Ltd., the Norwegian oil driller controlled by billionaire John Fredriksen, may seek to merge with Pride International Inc., part of a trend toward consolidation in the oilfield-services industry. “There could be good, attractive opportunities going forward, also from the point of view of single-asset acquisitions,” Seadrill Chief Executive Officer Alf Thorkildsen said in an interview at an Oslo oil conference. Asked if Pride may be a possible merger partner, he said “yes, it could be.” Seadrill already controls directly and indirectly a 9.5 percent stake in Houston-based Pride, an offshore driller for oil and natural gas that has rigs from India to Africa. The Norwegian company said last week it wants to streamline its business and put more resources into deepwater operations, where demand has held up more than for shallow-water fields as oil prices declined from last year’s peak. Pride also is focusing increasingly on deepwater and other technologically challenging drilling projects...." =============================================================== finance.yahoo.com