US shale majors merge amid oil slump

ANALYSTS have predicted a flood of mergers within the US onshore shale patch for months, since the oil price crashed to lows not seen in over a decade, but while some smaller companies have moved quickly, the first major merger occurred this week.

US shale majors merge amid oil slump US shale majors merge amid oil slump US shale majors merge amid oil slump US shale majors merge amid oil slump US shale majors merge amid oil slump

Image: Paul van Lieshout Hunt

 

New York Stock Exchange-listed Devon Energy and EPZ Energy agreed to an all-stock merger of equals this week, which once completed will create one of the largest US shale producers.