Norwegian bank predicts consolidation wave in drilling over the next year

Several financially pressed rig companies have been restructured and relieved of debt, prompting Norwegian SpareBank 1 to expect a wave of mergers and acquisitions, writes Finansavisen.

Photo: Colourbox

Several companies within the pressured rig industry have now been restructured and relieved of heavy debt burdens.

Norwegian bank SpareBank 1 therefore expects a wave of mergers and acquisitions among the companies within the next 12 months, writes Norwegian business daily Finansavisen in a sector analysis titled Welcome to the M&A show.

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