3 US Shale Gas Firms Up For Sale
Three privately owned U.S. natural gas operators are up for sale and looking to tap into major energy companies' demand for shale gas, the Wall Street Journal reports.
Dallas-based Chief Oil & Gas, an active operator in the Marcellus Shale play; Dallas-based Talon Oil & Gas LLC, who has operations in three Texas regions; and Denver-based Anschutz Exploration Corp., who has assets in the Bakken Shale play, are all up for sale.
Combined, the companies are potentially worth $5.5 billion.
"Operations of these companies are limited by their size and are leading them to explore a sale to a larger player," the Wall Street Journal said. "Shale gas is forming a growing part of U.S. domestic energy production, and that demand has driven a number of large deals as leading global players compete to snap up reserves. "