As oil began crashing late last year, many prepared for a buying spree. Shale was going on sale.
That sale has yet to show up. Deals have been active in the pipeline and processing sector, including Marathon Petroleum Corp.’s $15.8 billion deal today. But overall, global oil and natural gas deals so far this year are at the lowest level in a decade.
The oil and gas producers that created a U.S. energy revolution haven’t seen their shares fall nearly as much as oil prices, leading to a disconnect between buyers and sellers. That discrepancy has begun to narrow, and deals are sure to follow.
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