American Oil and Gas Reporter - May 2016 - 33

Noncore Properties
Drive Increased Activity
In Upstream Deal Making
By Chris Atherton

HOUSTON-The acquisition and divestiture market for oil and gas
assets is in constant flux. In normal markets, the factors that motivate
oil and gas property owners to sell assets are as varied as there are
sellers. However, after several months of depressed commodity prices,
the unfortunate reality in today's market is that debt, solvency and
survival will be motivating factors for owners of assets to sell in the
second half of 2016 and into 2017.
The good news is that buyers are well capitalized and looking
aggressively for acquisition opportunities. There is an eagerness to
acquire assets with significant upside reward, but there also is
trepidation that prices could slip again.
Not only do potential sellers have to determine what and when to
sell, but the options of how to sell have become more critical to
achieving true maximum market value, as well as achieving certainty of
close. Since no property owner wants to sell at the low point in a cycle,
the moderate recovery of oil prices from the levels experienced in the
first quarter may further encourage buyers and sellers to come together
at the transaction table. It also gives buyers better opportunities to lock
in hedges to ensure minimal rates of return on acquired properties.

MAY 2016 33



American Oil and Gas Reporter - May 2016

Table of Contents for the Digital Edition of American Oil and Gas Reporter - May 2016

Contents
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American Oil and Gas Reporter - May 2016 - Contents
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