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 (in $) | Deal type | Closing date |
|---|---|---|---|---|
| Chord | Enerplus Corp | 3.84 bln | Cash and Energy stock | Mid 2024 |
| Diamondback | Endeavor Energy | 26 bln | Cash and Energy stock | Q4, 2024 |
| APA Corp | Callon Petroleum | 4.5 bln | All-stock | Q2, 2024 |
| Chesapeake | Southwestern Energy | 7.4 bln | All-stock | Q2, 2024 |
| Talos | QuarterNorth Energy | 1.29 bln | Cash and Energy stock | End of Q1, 2024 |
| Sunoco | NuStar Energy | 7.3 bln | All-stock | Q2, 2024 |
| California | Aera Energy Resources | 2.1 bln | All-stock | Second half, 2024 |
| EQT Corp | Equitrans Midstream | 5.5 bln | All-stock | Q4, 2024 |
| SLB | ChampionX | 7.8 bln | All-stock | End of 2024 |
(Compiled by Mrinalika Roy, Sourasis Bose and Seher Dareen in Bengaluru; Edited by Shweta Agarwal, Shounak Dasgupta and Ravi Prakash Kumar)