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 (FTC) has taken a sharper look at energy deals of late.
Below is a list of deals in the U.S. oil and gas sector so far this year:
| Target | Acquirer | Closing Date | Deal Value |
|---|---|---|---|
| Callon Petroleum | APA Corp. | Q2, 2024 | 4.5 billion |
| Southwestern Energy | Chesapeake Energy | Q2, 2024 | 7.4 billion |
| QuarterNorth Energy | Talos Energy | End of Q1, 2024 | 1.29 billion |
| NuStar Energy | Sunoco | Q2, 2024 | 7.3 billion |
(Reporting by Mrinalika Roy in Bengaluru; Editing by Shweta Agarwal)