A. D. Koen Gulf Coast News Editor
Robin Buckner Price Staff Writer
Major U.S. oil and gas companies' accelerated rationalization of U.S. upstream assets in recent years has left a glut of available producing leases in a capital starved market.
The expanding divestment of such properties in the U.S. stems largely from a shift in upstream emphasis by majors to areas outside the U.S. As more of their exploration and development capital flees the U.S., majors are cutting the scope of their remaining U.S. operations, selling nonstrategic assets piecemeal and in sizable chunks.
Continuing a process that began in earn...