Shale debt has reportedly doubled over the past four years, according to a Bloomberg News analysis of 61 shale drillers, while revenue has increased just 5.6 percent. Many are spending at least 10 percent of their sales on interest compared with Exxon Mobil Corp.’s .1 percent, the news agency reported. As the struggle to keep pace with the increased spending is needed to unearth these resources, some investors are selling their assets at a loss. Loews Corp. subsidiary, HighMount Exploration & Production, announced May 23 that it is pursuing strategic alternatives, including a potential sale of the business. HighMount, primarily comprised of natural gas and oil reserves, has assets in the Sonora field within the Permian Basin in West Texas. The company reportedly lost $20 million in the first three months of 2014 and was not profitably successful over the past two years. “The list of companies that are […]