Short is the new long. Companies from ExxonMobil to Chevron to Shell to Anadarko Petroleum are reducing or even selling their long-cycle assets in favor of buying short-cycle assets that deliver a return in three years or less. That means U.S. shales or the Permian Basin.
At press time, Marathon Oil became the latest to jump on the bandwagon, selling its Canadian oil-sands interests to enter the Delaware Basin by buying 70,000 acres.
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Source: Daily Dose of ShaleDirectories.com News