US upstream property sales seen reviving in second half

Recent deal activity between buyers and sellers of US oil and gas properties has been relatively low in both total transaction size and the number of packages being offered for sale, according to the latest OGJ Exchange pricing forecast poll for the second quarter.First quarter deal flow was about $1.2 billion, while second quarter 2002 deal flow was about $2.1 billion, said OGJE CEO and Vice-Pres. Bill Marko. This compares with a 2001 total US deal flow of $20 billion, he said."Larger packages have continued to dominate the market, with more than 90% of the total sales from packages greater than $100 million," Marko noted. "This is creating a pent-up demand by acquisitive companies for p...

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