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Hedge funds buy into N America O&G firms

They're betting on a generally contrarian view, that oil prices are poised to rebound

SUSCEPTIBLE: Overstretched oil and gas exploration and production companies with assets in multiple basins, inefficient production and low growth are most likely to fall prey to activists.

New York

ELLIOT Management Corp and Omega Advisors Inc are among activist hedge funds buying stakes in North American oil and gas producers whose stock has fallen because of weaknesses exposed by the collapse of energy prices.

It is a bet on a view that is contrary to some analysts...

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