More Consolidation Likely Among North American Shale Gas Players

摘要

The recent acquisition of Marcellus-Shale focused producer Atlas Energy by Chevron is indicative of a broader wave of consolidation taking shape in the North American natural gas industry (NGW Nov.15,p10). The $4.3 billion Chevron deal is just the latest example of Western majors and international players taking up stakes in unconventional North American gas plays—further validating the value of shale gas reserves and changing the face of the region's gas industry in the process. A wave of consolidation would build on a long-developing trend of joint ventures and asset sales that independents are already using to fund capital spending budgets against a backdrop of low gas prices and escalating oil-field service costs (NGW May24,p8).