September 6, 2001 |
The world's energy companies have announced mergers totaling more than $167 billion in the last 12 months, and the pace of buyouts is unlikely to slow, executives, investors and analysts said. This week, Devon Energy Corp. said it would buy Anderson Exploration Ltd. of Calgary, Canada, for $4.6 billion. A month ago, Devon agreed to buy Mitchell Energy & Development Corp. for $3.2 billion. In another deal this week, Santa Fe International agreed to buy rival Global Marine Inc. for $3.