Here are companies that research firm Global Hunter is bullish on.
The deal gives the Alinda Capital Partners-backed Howard Midstream assets in the Marcellus Shale.
The company wants to keep its rich dividend while continuing to grow, but its debt load and free cash flow deficits are rising and asset sales will probably be minimal.
A growing number of oil and gas explorers and producers are considering selling or spinning off their infrastructure facilities to live another day after the dramatic slide in oil prices.
The oil and gas industry has been light on mergers and acquisitions so far in 2015, but in one area, M&A is booming: pipeline, processing and storage assets.
The swoon in prices has sent oilfield equipment and services providers reeling, but Superior Energy, Oceaneering International and Forum Energy could make a killing.
Conversations at an industry conference are dominated by talk of winners and losers, efficiency over growth and, of course, deals. Bankers in attendance suggested conditions could improve next quarter.
Low oil prices haven't been a disaster for the entire petroleum industry; downstream companies have actually benefited. But labor unrest and a price rebound could cause these winners to stumble.
By joining forces, two oil and gas explorers could cut duplicative functions, capture economies of scale, increase buying power and build stronger balance sheets.
The large integrated companies were once insulated from price swings, but that advantage has dissipated.