…meanwhile in developed shale land….
Dealmaking in US oil and gas has surged to almost $200bn in the past year as the biggest producers compete to swallow up rivals in a race for scale that has redrawn the national energy landscape.But as the country’s best drilling acreage is snapped up, companies are casting a wider net and looking beyond the most sought-after oilfields for acquisitions that will bolster their ability to pump hydrocarbons in the years ahead.
“We are in the midst of a consolidation wave and I don’t think it is over yet,” said Jon Hughes, chief executive of Petrie Partners, a boutique investment banking firm that advised on Pioneer Natural Resources’ $60bn sale to ExxonMobil.
Beetaloo or bust: the route to commercial success for an Australian shale play, page-60
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