So far this year, the global upstream oil and gas market has seen more than $64 billion in mergers and acquisitions, and the year could still see more mega-deals, according to the latest report from Rystad Energy on Monday. While recent deals have focused on the Permian Basin, Rystad says it is looking to other American shale patch venues for the next big deals amid an ongoing trend of consolidation.
According to Rystad, North American upstream deals for the first quarter of this year came in at $54 in value, and $80 billion in North American oil and gas assets remain up for sale. Rystad estimates that the American shale patch will account for the bulk of new M&A activity. “The Permian has been the focal point for M&A activity in recent times, but that focus is waning as available assets in the basin become scarce.
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