Adds SLB
April 2(Reuters) - 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 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 |
Enerplus Corp |
Chord Energy |
3.84 bln |
Cash and stock |
Mid 2024 |
Endeavor Energy |
Diamondback Energy |
26 bln |
Cash and stock |
Q4, 2024 |
Callon Petroleum |
APA Corp |
4.5 bln |
All-stock |
Q2, 2024 |
Southwestern Energy |
Chesapeake Energy |
7.4 bln |
All-stock |
Q2, 2024 |
QuarterNorth Energy |
Talos Energy |
1.29 bln |
Cash and stock |
End of Q1, 2024 |
NuStar Energy |
Sunoco |
7.3 bln |
All-stock |
Q2, 2024 |
Aera Energy |
California Resources |
2.1 bln |
All-stock |
Second half, 2024 |
Equitrans Midstream |
EQT Corp |
5.5 bln |
All-stock |
Q4, 2024 |
ChampionX |
SLB |
7.8 bln |
All-stock |
E of 2024 |
(Compiled by Mrinalika Roy, Sourasis Bose and Seher Dareen in Bengaluru; Edited by Shweta Agarwal, Shounak Dasgupta and Ravi Prakash Kumar)