U.S. Oil Industry Sees More Mergers & Acquisitions Dealmaking As Prices Rise

The strong rally in commodity prices and the recovery in share prices in the second quarter of 2021 marked the return of many energy mergers and acquisitions in the U.S. upstream segment, with quarterly value sitting at its highest since the second quarter of 2019, energy data analytics company Enverus said on Monday.

Following a timid start to 2021 in the first quarter, the pace of U.S. oil and gas deals surged in the second quarter. More than 40 deals were announced between April and June, for a combined total value of $33 billion, Enverus said in a report.

“That is the highest quarterly value total since 2Q19, which included Occidental Petroleum’s historic buy of Anadarko Petroleum, and is tied for the most announced deals above $1 billion since 2014,” the energy data analytics firm said.

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Source: OilPrice