Report: Oil and gas companies selling more shale assets

Faced with dwindling cash and anxious lenders, oil and natural gas exploration companies “have reluctantly started to let go of acreage they have guarded through the worst of the commodity downturn,” according to Forbes. The magazine says the number of transactions for shale assets has increased in 2016, citing numbers from IHS Energy that show there were 49 asset transactions, excluding corporate mergers, for $12.7 billion through April this year compared to 35 deals worth $6.5 billion during the same period in 2015. Forbes reports that for that trend to solidify this year, dealmakers “are hoping for not only higher oil and gas prices but ...  sustained pricing levels that provide both buyer and seller comfort.” For more, read the full story.

National