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A&D - Operators maintain cautious M&A stance as earnings roll in - October 2019
Earnings season is underway amid a highly uncertain outlook for the E&P industry. Investors are likely to be laserfocused on capex, with some companies trending towards maintenance spending as they pull all levers to reach positive free cash flow. Regarding deals, companies so far appear to be maintaining a waitand-see approach as the US-China trade war, tensions in the Middle East and price volatility continue to impact M&A strategies. With that said, two billion-dollar-plus......
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