U.S. oil and gas exploration and production companies spent as much as $234 billion on mergers and acquisitions (M&A) last year—the highest such spend in real dollar terms since 2012, the Energy Information Administration (EIA) said in an analysis on Tuesday. The deal-making of the past year marks a return to the consolidation trend from before 2020, the EIA noted.
Between 2020 and 2022, heightened market volatility and uncertainties in demand and supply led to a decline in transactions. But M&A activity was back…The U.S. Oil and Gas Industry Spent $234 Billion on M&A in 2023
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