Money Makers Mentor

Alta Resources Explores $3 Billion Sale

Alta Resources explores $3 billion sale. Due to the COVID-19 pandemic, there has been a prolonged slump in energy demand. This puts pressure on oil and gas exploration and production companies to seek combinations which boost scale and cut costs to compete more effectively.

According to sources, Alta contacted potential buyers to solicit their initial interest ahead of a formal sale process. The company isn’t the only private oil and gas company looking for a good deal in the U.S. Northeast. EQT Corp said in October it would buy the Appalachian business of Chevron Corp for $735 million. On top of that, Southwestern Energy Co completed in November the $204 million purchase of Montage Resources.

It controls 547,000 gross and 239,000 net acres in the Marcellus shale formatio…

Leave A Reply

Your email address will not be published.