Bloomberg reported oil and gas companies will spend about $450 billion buying each other this year as lower valuations caused by a drop in crude prices stimulate mergers and acquisitions, according to consultants A.T. Kearney.

According to Bloomberg , the value of transactions in the oil and gas industry will probably rise by $10 billion from last year when deals totaled $440 billion, said Richard Forrest, A.T. Kearney’s lead partner for energy.

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