First-half US oil, gas asset sales a record

Click here to enlarge imageSales of US oil and gas properties during second quarter 1999 reached $28.2 billion with 148 transactions, bringing the first-half total to a record $43.2 billion, according to Randall & Dewey Inc., Houston. That's the key finding from a recent review of selected global merger, acquisition, and divestment (MA&D) activity, based on transactions announced in first-half 1999 (Fig. 1).Seeming to mimic the activity seen during the first quarter, large transactions-those worth $100 million or more-made up the bulk of the MA&D volume. Randall & Dewey said, "Looking back at the beginning of the year, the predictions were almost unanimous that 1999 ...

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