Investors push oil and gas companies to reduce debt and focus on core areas

Bloomberg data indicates that "[m]assive capital requirements to scoop up new acreage and develop expensive drilling projects have driven the average debt-to-capital ratio among U.S. producers to 42 percent last year, its highest point in more than a decade, and up from 30 percent in 2007." Now, diversified portfolios are giving way to focused core areas as investors are beginning to demand these oil and gas companies make significant changes, including reducing "large compensation packages, throwing out managers and installing penny-pinching replacements" to balance their debt sheets, the article said. For more, read the full story.