Oilfield Service Companies Expect to See More Industry Mergers

Oilfield service and equipment providers anticipate more mergers and acquisitions as valuations fall.

“I do absolutely expect to see more M&A activity going forward,” said Jorgen Rasmussen, chief executive officer for Archer Ltd., which negotiated its acquisition price for the Great White Energy Services group of companies down 15 percent to $630 million. “We’ve already taken advantage of lower valuations by lowering the price for Great White.”