MAJORS' U.S. RETRENCHMENT CAUSES SALE PROPERTY GLUT

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

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