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IntraLinks Poll: More Than Half of Energy Executives To Develop Strategic Partnerships in 2009

Posted on: Wednesday, 22 April 2009, 09:00 CDT

NEW YORK, April 22 /PRNewswire/ -- More than half (60 percent) of executives at U.S. energy companies plan to form strategic partnerships this year, according to a recent webcast poll by IntraLinks(R), the leading provider of critical information exchange solutions.

Energy executives responding to the poll indicated their primary reason for pursuing partnerships and alliances are: Offering clients an expanded suite of products or services (30 percent); solidifying an existing, complementary business relationship (27 percent); finding a solution to decreased financing available (22 percent); and, maintaining health of business or limit potential exposure to bankruptcy (14 percent).

"Our company extended an existing partnership with British Petroleum (BP) in 2009, after using IntraLinks to exchange critical information during the negotiation process," said Gerald M. Haines II, Executive Vice President of Verenium Corporation. "Despite a very tough economic environment, we are now actively partnering with BP to develop one of the first cellulosic biofuel refineries in the world, aimed at producing 36 million gallons of cellulosic ethanol annually."

Beyond forming strategic partnerships, energy executives indicated their companies plan to obtain financing or raise capital for projects (34 percent), acquire an asset (23 percent), sell an asset (20 percent) or file for an initial public offering (3 percent).

Additionally, although nearly half the respondents indicated they are most likely to pursue a partnership or alliance with U.S. energy companies (46 percent), other potential targets include U.S. financial investors--including investment banks, hedge funds or private equity firms (11 percent), non-U.S. energy companies (9 percent) and non-U.S. financial investors (3 percent).

To view the archived webcast, visit the IntraLinks' website at: http://www.intralinks.com/our-company/resource-center/webcasts/.

About the Survey

Thirty-five energy executives responded to polling questions during a webcast in February 2009.

About IntraLinks

IntraLinks enables business professionals to exchange critical information anytime, from anywhere through its secure, web-based solutions. Since 1997, IntraLinks has accelerated business processes, simplified communications and fostered rapid workflow for more than 750,000 users from 90,000 organizations worldwide. IntraLinks counts 800 of the Fortune 1000 as clients, including enterprises such as AstraZeneca Pharmaceuticals LP, Bank of America, Deutsche Bank and the FDIC. For more information, visit www.intralinks.com.

SOURCE IntraLinks

Source: PR Newswire

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