American Shale Consolidation Continues with Rumors of Another Sale

As consolidation in the American shale patch continues, Bloomberg has cited unnamed sources as saying that Franklin Mountain Energy is gearing up to be the next sales target in Texas’ Permian basin.  Led by refining billionaire Paul Foster, Bloomberg reported on Wednesday that sources close to the matter say Franklin Mountain has hired Jefferies FInancial Group Inc to manage the sale of the refiner, with price expectations at around $3 billion.  Denver-based Franklin Mountain Energy is one of the last privately held holdouts in…