Analysis: Oil companies bet on $100 a barrel as they rush to sell assets By Reuters – Investing.com

oil companies reuters analysis
Gulf
  • Date: 02-Jul-2021
  • Source: Investing.com
  • Sector: Oil & Gas
  • Country: Gulf
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Analysis: Oil companies bet on $100 a barrel as they rush to sell assets By Reuters – Investing.com

By Jessica Resnick-Ault, Arathy S Nair and Shariq Khan

NEW YORK (Reuters) - Oil companies are betting that if they sell land, buyers will come, as crude prices have soared more than 50% this year, fueling the most robust pipeline of deals in more than four years.

Large oil companies are unloading properties from Texas to California, with some using the market rally as a chance to rake in cash for future investment in the global transition to cleaner energy. Other sellers are taking the chance to profit when just a few months ago big properties were being sold at a loss, according to interviews with 10 advisers and analysts.

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