Why Wall Street Is Puzzled by the Merger of Shale Drillers Cabot and Cimarex

A new merger between two midsize oil-and-gas companies seemed to touch all the bases that energy investors want to see: an all-stock deal, a low debt profile, a promising dividend, and that word “synergies” that Wall Street usually likes. But the decision by Denver oil producer Cimarex Energy (ticker: XEC) and Cabot Oil & Gas (COG) to combine forces does not […]