Petrie Partners, LLC’s Post

2024 OIL AND GAS M&A NEARS 2023 RECORD 2024 U.S. Oil, Gas M&A Nears 2023 Record, Focus Shifts Away From Permian https://hubs.la/Q02NPHnT0 U.S. oil and gas producers’ appetite for dealmaking is closing in on last year’s record, with rising interest in smaller oilfields offsetting slower activity in the top oil-producing Permian Basin, analysts at consultancy firm Rystad said on Wednesday. #usa #oilandgasindustry #oilandgas #mergers #aquisitions #energyindustry #energynews

Mega mergers involving ExxonMobil, Chevron and Occidental Petroleum in Q4 skyrocketed 2023’s upstream deal value to $234 billion, based on Evaluate Energy data. 📊 U.S. predictably dominates: With the ExxonMobil and Chevron mega deals approximating a combined $125 billion, the U.S. dominated global deal values in 2023. 📊 Excluding these two deals, the U.S. upstream sector still saw over $25 billion more in M&A deals agreed in 2023 than the rest of the world combined. Much of this activity was focused on the Permian Basin – which has now amassed over $400 billion in new deals in the past 10 years. 👉 Read the details here: https://lnkd.in/gXcvMYBz #oilandgas #energy #data #analysis #mergers #acquisitions Paul Harris

According to a report by Enverus featured in Oilprice.com, the U.S. oil and gas sector continues its robust trend in mergers and acquisitions (M&A), projecting to surpass the previous year's figures. A notable amount of $30.2 billion in M&A deals was recorded in just the second quarter, diversifying beyond the Permian Basin to areas like the Eagle Ford and Uinta Basin. Despite global slowdowns in M&A, the U.S. market remains dynamic, driven by strategic consolidation to control production and respond to market demands. Read more at: https://lnkd.in/e7yyJuYR Subscribe to our newsletter at www.legalleaderscircle.com

Oil and gas companies are going on a spending spree! 💰 A staggering $250 billion spent on mergers in just a year. This consolidation wave is shaking up the energy industry. To learn more click here: https://lnkd.in/gS5952pN #Forbes #LNG #Methane #OilandGasIndustry #OilandGasNews #SustainableEnergy #IndustryNews #EatSleepRefresh #Aries

"Ithaca-Eni upstream oil & gas combination gives birth to UK’s ‘largest resource holder’ in North Sea." "Eni confirmed an official agreement for the business combination with Ithaca Energy almost a month after the pair entered into an exclusivity agreement regarding the potential upstream merger. The two players were expected to combine the Italian oil major’s UK upstream business with the existing Ithaca business, enabling the enlarged entity to contain stakes in six of the ten largest fields and the top two largest development fields on the UKCS, including Rosebank, Cambo, Schiehallion, Mariner Area, Elgin/Franklin, and J-Area." Link to article: https://lnkd.in/ebe5K7gj #oilandgas #energytransition #northsea #uk #upstream #merger #development

$250 billion in #oil and #gas mergers? That's not just big business—it's a glimpse into the future of energy. Seems like these companies are gearing up for the long haul. It's a high-stakes game where the winners could shape our energy landscape for decades. For #investors, it's becoming clear that thinking long-term is more crucial than ever. The real question is: who's positioning themselves to be the last one standing? https://loom.ly/ZfRX3Xk

Mega Mergers to Mega Sales: The Next Phase in Oil, Chevron, ConocoPhillips, and Occidental U.S. oil and gas companies are facing a tough task: they need to unload $27 billion in assets to pay their investors. #Chevron, #ConocoPhillips, and #Occidental Petroleum are aiming to raise between $16 billion and $23 billion from selling off assets after their mergers. With fewer buyers and more stringent regulatory reviews, the process of selling these assets is likely to extend into next year, complicating the landscape for these oil giants. Read more here: https://lnkd.in/dHDiE8XK

*** Oil & Gas M&A Deals - Q1 2024 in numbers *** • The total value of Oil & gas related M&A in Q1 2024 was $99B. This represents a decrease of 52% from last quarter although the figure is an increase from Q1 2023 • There were 367 Oil & gas M&A deals in Q1. This is a decrease of 13% from last quarter • 15 Oil & gas mega-deals took place in Q1 2024, that is deals in excess of $1 billion. Another decrease of 38% from Q4 2023 • Shale once again was the top theme driving oil & gas M&A activity with four deals of those deals worth a total of $39 billion • North America was the geographical region generating the highest deal values in Q1 2024 with 146 M&A deals worth a combined $84 billion The chart below shows quarterly M&A progress since 2020 in the Oil & Gas sector #upstream #midstream #downstream #shale #mergers #acquisitions

With the ExxonMobil and Chevron mega deals approximating a combined $125 billion, the U.S. dominated global deal values in 2023. Excluding these two deals, the U.S. upstream sector still saw over $25 billion more in M&A deals agreed in 2023 than the rest of the world combined. 💡 Much of this activity was focused on the Permian Basin – which has now amassed over $400 billion in new deals in the past 10 years. ✅ Read more here: https://ow.ly/L8aW50QpxUt 🟥 Explore our comprehensive global M&A database here: https://ow.ly/HQ9v50QpxUv Please share with your colleagues if you think they may think this information is valuable. #oilandgas #energy #data #mergers #acquisitions #analysis

The global upstream oil and gas industry has seen over $64 billion in mergers and acquisitions since the beginning of this year, with more significant deals expected in the coming months, according to a recent report from Rystad Energy.