Like a great white shark looking for blood in the water, Warren Buffett’s Berkshire Hathaway Inc. (BHI) has clamped its jaws around another ailing energy asset, Seitel Inc., after agreeing to finance its voluntary bankruptcy reorganization. The transaction would give the Omaha-based holding company title to a sizeable North American-focused seismic database and increase its growing energy holdings, which now include two major natural gas pipelines.
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Deal with Seitel Would Increase Buffett’s North American Energy Holdings
Like a great white shark looking for blood in the water, Warren Buffett’s Berkshire Hathaway Inc. (BHI) has clamped its jaws around another ailing energy asset, Seitel Inc., after agreeing to finance its voluntary bankruptcy reorganization. The transaction would give the Omaha-based holding company title to a sizeable North American-focused seismic database and increase its growing energy holdings, which now include two major natural gas pipelines.
July 23, 2003
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