Kerr-McGee Snaps Up HS Resources in Hot Sector

If it's Monday, it's another energy merger.

Kerr-McGee (KMG Quote) announced plans early Monday to acquire HS Resources (HSE Quote) in a cash-and-stock deal valued at about $1.25 billion. The purchase calls for Kerr-McGee to assume about $450 million in HS Resources debt.

The deal comes on the heels of last week's blockbuster natural gas deal with Williams (WMB Quote) agreeing to acquire Barrett Resources (BRR Quote) for $2.5 billion. Also, Valero (VLO Quote) agreed to acquire Ultramar Diamond Shamrock (UDS Quote) for about $4 billion, creating the second-largest domestic refiner. ...