WoodMac: Majors buying into shale gas plays

10/11/2010
North American large caps and smaller exploration and production companies now dominate the largest and most economically attractive US shale plays, but the majors and large cap foreign firms are moving in through mergers and acquisitions, said Wood Mackenzie Ltd., Edinburgh, in its latest corporate analysis.According to that report, upstream M&A spending in US shale gas totaled $21 billion in the first 6 months of 2010, equivalent to one third of global upstream M&A spending in that same period.Luke Parker, manager of WoodMac's M&A research, said, "Through the first half of this year alone, in excess of 35 tcf of shale gas resource changed hands at an average cost of 60&...
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