We continue our interview series with Justin T. Stolte, partner at Gibson, Dunn & Crutcher LLP. Part two picks up by looking at what deals are getting done.
We have established the M&A transactions market is challenged but there are still deals happening. Stolte looks at what deals are proving to be beneficial for companies at this time.
"Water historically has been viewed as a nuisance for E&P companies and now, because there is so much produced water that E&Ps are having to deal with, it's really created a stand-alone business," said Stolte.
Related video: VIDEO SERIES: Challenges Ahead For M&A Transactions Market
Hopes rise that fuel demand can weather the pandemic.
Saudi Arabia's state oil producer Aramco has cut the official selling prices for its crude to Asia and Europe, while leaving them unchanged for the U.S., a document obtained by Reuters showed.
Cargo was less than can be carried by one Aframax tanker.