Tuesday, November 27, 2012

Marcellus Shale Sees a Slowdown in Wheeling & Dealing

From the Akron Beacon Journal:
The wheeling and dealing over the natural gas-rich Marcellus shale has hit the pause button.
Marcellus mergers and acquisition activity fell to zero in the third quarter of 2012, after major energy companies spent tens of billions of dollars over the last three years, according to a quarterly report Thursday of the financial firm PricewaterhouseCoopers. In the previous quarter, the deals totaled $1.6 billion.
PwC said low natural gas prices were the main factor, not the output or potential of the vast shale gas formation that lies under parts of Pennsylvania, West Virginia, New York, Ohio and Maryland.
Read the entire article here.

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