With oil prices dropping steeply since mid-2014 and the majority of players in the energy space restructuring and rethinking how they'll survive the current downturn, much discussion has focused on consolidation within the industry. Buyouts often involve the acquiring company paying a premium to fair market value, resulting in a gain for shareholders. This article discusses what factors to consider and examines the following drilling companies as potential buyout candidates: Weatherford International (NYSE:WFT), Fluor Corporation (NYSE:FLR), Rowan Companies (NYSE:RDC), SeaDrill Limited (NYSE:SDRL), Ensco Plc (NYSE:ESV), Diamond Offshore Drilling (NYSE:DO), Transocean Ltd. (NYSE:RIG), Nabors Industries Ltd. (NYSE:NBR), Noble Corporation Plc (NYSE:NE), Patterson-UTI Energy Inc., (NASDAQ:PTEN) and Helmerich & Payne, Inc. (NYSE:HP). Read more