HEROLD: LOW U.S. GAS PRICES SPAWN MERGERS, ACQUISITIONS

Low U.S. wellhead gas prices are helping trigger another round of corporate consolidations and takeovers. John S. Herold Inc.'s quarterly survey of oil and gas company mergers and acquisitions (M&As) shows reserve values in transactions since 1989 have been increasing. Meanwhile, implied reserve values on equity markets have dropped, especially since the first of 1991.

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