Mergers and acquisitions in the U.S. upstream oil and gas industry hit $105 billion in 2024, the third-highest annual total ever, energy analytics firm Enverus has revealed.
However, last year's tab came in well below a whopping $192 billion worth of tie-ups completed in 2023, which included the $60 billion acquisition of Pioneer Natural Resources by Exxon Mobil Corp.
Earlier, Enverus predicted that mergers in the U.S. upstream sector are set to decline in the current year. Deal-making in the U.S. shale patch hit high gear in the aftermath of Russia’s war in Ukraine with the U.S. energy sector leveraging high oil and stock prices; however, the wave of consolidations has emptied pocketbooks and left fewer companies on offer.
Oil Gas Shale Gas Prices Energy Assets Upstream
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