Factbox: US energy sector consolidation trend continues in 2024

Enerplus

02/04/2024 13:59

(Adds SLB)
       April 2(Reuters) - The $250-billion consolidation wave
that swept through the US energy sector in 2023 has continued
into 2024, with experts anticipating further transactions as
energy firms aim to improve inventory longevity while minimising
costs.
    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                End of
 ChampionX                                           2024
                                          All-stock  
                                                     
 
 (Compiled by Mrinalika Roy, Sourasis Bose and Seher Dareen in
Bengaluru; Edited by Shweta Agarwal, Shounak Dasgupta and Ravi
Prakash Kumar)
 ((mrinalika.roy@thomsonreuters.com))