Oil Services M&A Should Pick Up, Pritchard Capital Says

Mergers and acquisitions activity in the oil services sector is primed to increase following Seadrill SDRL beating out Ensco ESV for Score. Atwood Oceanics ATW and Pride International PDE are on the list of M&A candidates, Pritchard said. M&A should be a catalyst for the names in the group and help drive up some valuations, with the least Gulf of Mexico exposure outperforming, Pritchard added. Vantage Drilling VTG is another takeover candidate, according to Pritchard Capital.