The US oil and gas sector witnessed a significant surge in merger and acquisition (MA) activity in 2024, with deal values tripling year-on-year.
According to a report published on Aug. 19 by Ernst Young, the total value of executed deals in the sector jumped to $206.6 billion, compared to just $47.9 billion in 2023.
The report noted that despite commodity prices retreating from their 2022 peaks, major companies injected substantial liquidity into deals aimed at boosting operational efficiency and profitability. This marks a strategic shift after years of prioritizing shareholder returns over expansion.
The MA wave was led by a number of mega-deals involving major players such as ExxonMobil, Diamondback Energy, and ConocoPhillips.
The US oil and gas sector witnessed a significant surge in merger and acquisition (MA) activity in 2024, with deal values tripling year-on-year.
According to a report published on Aug. 19 by Ernst Young, the total value of executed deals in the sector jumped to $206.6 billion, compared to just $47.9 billion in 2023.
The report noted that despite commodity prices retreating from their 2022 peaks, major companies injected substantial liquidity into deals aimed at boosting operational efficiency and profitability. This marks a strategic shift after years of prioritizing shareholder returns over expansion.
The MA wave was led by a number of mega-deals involving major players such as ExxonMobil, Diamondback Energy, and ConocoPhillips.
