While market liquidity declined, which corresponded to a decline in use of risk management tools, energy markets managed serious challenges and made marginal improvements during the period spanning from January 2002 through June 2003, according to FERC’s second annual “State of the Energy Markets” report.
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Devon Buys Santa Fe Snyder for $2.23B
Devon Energy once again showed its knack for timing on Friday bygrabbing Santa Fe Snyder while its stock was undervalued. Devonperformed a similar feat with PennzEnergy just last year (see DailyGPI, May 21). Observers believe this$2.23 billion merger, excluding about $1 billion in debt assumption,could be one of the last this year among large and small producersbecause of the impact of the booming energy market on stock prices.
May 30, 2000
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