Market Chatter: Market Chatter: Market Chatter: Canadian Natural Weighs Shale Sale Amid Glut

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"Decisions by Canadian Natural Resources Ltd. (CNQ.TO) and Talisman Energy Inc. (TLM.TO) to sell almost half a million acres of natural gas-soaked rock threaten to depress prices for land that drew a record premium last year," Bloomberg reported.

It reported: "Canadian Natural may sell 250,000 acres in the Montney Shale, one of western Canada's largest gas finds. Talisman also is seeking a buyer for parts of its 200,000-acre holding, which it estimates may be worth as much as $1.5 billion. The Calgary-based companies join other producers who are offering acreage after Exxon Mobil Corp. ( XOM ) and Petroliam Nasional Bhd., or Petronas as the Malaysian company is known, paid billions of dollars for stakes in the Montney."



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This article appears in: Investing , Commodities

Referenced Stocks: XOM

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