Factbox: US energy sector consolidation extends into 2024

Enerplus

16/05/2024 12:55

(Adds SilverBow-Crescent Energy deal)
       May 16 (Reuters) - The consolidation wave in the U.S.
energy sector that triggered $250 billion worth of deals in 2023
has stretched into this year, as companies look for
opportunities to deploy their cash hoard and boost their
reserves.
    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
                                                     
                 EQT Corp     5.5 bln     All-stock  Q4, 2024
 Equitrans                                           
 Midstream                                           
                                                     
                 SLB          7.8 bln     All-stock  End of
 ChampionX                                           2024
                                                     
                              2.1 bln                
 SilverBow       Crescent                   Cash      End of
 Resources       Energy                   and stock  Q3, 2024
                                                     
 
 (Compiled by Mrinalika Roy, Sourasis Bose, Tanay Dhumal and
Seher Dareen in Bengaluru; Edited by Shweta Agarwal, Shounak
Dasgupta and Ravi Prakash Kumar)
 ((mrinalika.roy@thomsonreuters.com))