According to the WSJ’s „Heard on the Street” column, the oil industry is readying for a new wave of consolidation. "I think the environment is ripe for co’s to be considering consolidation," says Dan Pickering, of Pickering Energy Partners. "One thing these co’s know how to do is consolidate and cut costs." Targets include: HES, DVN, ECA, XTO and NXY.
Barron’s Online “Inside Scoop” section reports that over the past 90 days, 15 MGM Mirage (MGM) execs and directors grossed $50.96m by selling 1.09m shares on the open mkt, of which 93% were acquired through options.