Analyst: Encore auction could be start of oil-driven deal frenzy

If a buyer emerges for Forth Worth-based oil and gas explorer Encore Acquisition Co., then odds of an oil-driven deal frenzy go way up, according to a report Thursday by Tudor Pickering Holt & Co. Securities Inc. Encore said Wednesday it hired Lehman Brothers Inc. to advise it on a possible sale.

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Tudor Pickering said the announcement was surprising given that Encore's shares have advanced 92% year-to-date. The firm thinks small to midsized oil stocks will get more attention in the market, including Arena Resources Inc., Berry Petroleum Co. and Denbury Resources Inc.

Some likely buyers who might be interested in Encore could include Continental Resources Inc., Hess Corp., ConocoPhillips Co., Marathon Oil Corp. and EOG Resources Inc. - Claire Poole

For more on Encore's auction, see Corporate Dealmaker

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