Factbox: US energy sector consolidation extends into 2024

Enerplus

29/05/2024 12:08

(Adds graphic, ConocoPhillips-Marathon Oil deal)
       May 29 (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
                                                     
                 Crescent     2.1 bln     Cash and   End of Q3,
 SilverBow       Energy                   stock      2024
 Resources                                           
                                                     
                 Energy       3.25 bln    Cash and   Q3, 2024
 WTG Midstream   Transfer                 stock      
                                                     
                                                     
 Marathon Oil    ConocoPhill   22.5 bln               Q4, 2024
                 ips                      All-stock  
                                                     
 
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Upstream deals in the energy sector since 2020    https://reut.rs/4e33VWX
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Compiled by Mrinalika Roy, Sourasis Bose, Tanay Dhumal,
Vallari Srivastava and Seher Dareen in Bengaluru; Edited by
Shweta Agarwal, Shounak Dasgupta, Ravi Prakash Kumar and Vijay
Kishore)
 ((mrinalika.roy@thomsonreuters.com))