Marcellus Driller Vantage Energy Puts Itself Up for Sale

for sale signVantage Energy, a driller with operations in the Marcellus (in southwestern Pennsylvania) and in the Texas Barnett Shale, has had a bumpy ride over the past year or so. In 2014 Vantage planned to launch an initial public offering (IPO), hoping to raise $600 million–but later scraped that plan (see Vantage Energy Postpones IPO Citing Unfavorable Market Conditions). In December, the company was assessed a hefty fine by the PA Dept. of Environmental Protection (see Vantage Energy Fined $1M for Multiple Errors at Greene County Site). And in February of this year, Vantage had the dubious distinction of being one of the companies on David Fessler’s oil & gas company “death list” of companies with debts four times or higher than earnings (see 19 Oil/Gas Companies on “Death List” – 8 are in Marcellus/Utica). [MDN Note of Apology: The Vantage in David Fessler’s list is Vantage Drilling, NOT Vantage Energy–in no way connected to Vantage Energy. We regret the error!] So it was no surprise for MDN to read that Vantage has put itself up for sale. The company has hired Barclays to help find a suitor to buy them. Among the potential suitors are several Marcellus drillers…

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