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

Callon Petroleum Co

12/02/2024 11:19

(Adds Diamondback deal)
       Feb 7 (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 has taken a sharper look at energy
deals of late.
    In 2023, some 39 private companies were acquired by public
companies, Enverus data showed. 
    
    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 $)                 date
 Endeavor        Diamondback  26 bln      Cash and   Q4, 2024 
 Energy          Energy                   stock      
 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
 Aera Energy     California   2.1 bln     All-stock  Second
                 Resources                           half, 2024
 
 (Compiled by Mrinalika Roy and Seher Dareen in Bengaluru;
Edited by Shweta Agarwal and Shounak Dasgupta)
 ((mrinalika.roy@thomsonreuters.com))