Factbox: More US energy deals likely in 2024

Enerplus

11/03/2024 10:52

(Adds Equitrans Midstream)
       March 11 (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.
    Dealmaking is on the rise as oil and gas producers are
looking to improve longevity of inventories at low cost, and
focus on cash that can be returned to shareholders.
    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.
    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
                 Chord        3.84 bln    Cash and   Mid 2024
 Enerplus Corp   Energy                   stock      
                                                     
                 Diamondback  26 bln      Cash and   Q4, 2024 
 Endeavor        Energy                   stock      
 Energy                                              
                                                     
                 APA Corp     4.5 bln     All-stock  Q2, 2024
 Callon                                              
 Petroleum                                           
                                                     
                 Chesapeake   7.4 bln     All-stock  Q2, 2024
 Southwestern    Energy                              
 Energy                                              
                                                     
                 Talos        1.29 bln    Cash and   End of Q1,
 QuarterNorth    Energy                   stock      2024
 Energy                                              
                                                     
                 Sunoco       7.3 bln     All-stock  Q2, 2024
 NuStar Energy                                       
                                                     
                 California   2.1 bln     All-stock  Second
 Aera Energy     Resources                           half, 2024
                                                     
                              5.5 bln                Q4, 2024
 Equitrans       EQT Corp                            
 Midstream                                All-stock  
                                                     
 
 (Compiled by Mrinalika Roy, Sourasis Bose and Seher Dareen in
Bengaluru; Edited by Shweta Agarwal and Shounak Dasgupta)
 ((mrinalika.roy@thomsonreuters.com))