Just like landowners pool together to negotiate with oil and gas companies, conventional oil and gas operators are banding together to market to shale firms.

To keep businesses afloat, independent conventional oil and gas producers are pooling their deep oil and gas rights with plans of marketing them to a private equity fund, Pittsburgh Post-Gazette PowerSource reports. One such pooling in western Pennsylvania, Vintage Land Holdings, will total 40,000 acres that will sell for $200 million to $300 million.

Several years ago, more than a dozen conventional producers were brought together to market to shale companies. However, the deal didn’t end up being all-or-nothing, but conventional operators say it’s time to try it again.

Via: Pittsburgh Post-Gazette PowerSource > Conventional oil and gas producers band together to survive