Factbox: More US energy deals likely in 2024 in wave of consolidation

Callon Petroleum Co

23/01/2024 12:57

Jan 23 (Reuters) - The U.S. energy sector has entered a
new phase of consolidation as the industry went on a
$250-billion buying spree in 2023, and experts see more
transactions on the horizon.
    The majority of energy executives polled in December by the
Federal Reserve Bank of Dallas expected more oil deals worth $50
billion or higher to pop up in the next two years.
    However, as a wave of consolidation sweeps the sector, the
U.S. Federal Trade Commission (FTC) has taken a sharper look at
energy deals of late.
    Below is a list of deals in the U.S. oil and gas sector so
far this year:
    
 Target          Acquirer    Deal value  Deal type  Closing
                             (in USD)               date
 Callon          APA Corp    4.5 bln     All-stock  Q2, 2024
 Petroleum                                          
 Southwestern    Chesapeake  7.4 bln     All-stock  Q2, 2024
 Energy          Energy                             
 QuarterNorth    Talos       1.29 bln    Cash &     End of Q1,
 Energy          Energy                  stock      2024
 NuStar Energy   Sunoco      7.3 bln     All-stock  Q2, 2024
 
 (Reporting by Mrinalika Roy in Bengaluru; Editing by Shweta
Agarwal)
 ((mrinalika.roy@thomsonreuters.com;))