US shale deal-making stirs to life
Domestic acquisitions gain momentum after woeful performance across the first three quarters of the year
US shale M&A activity is suddenly gathering pace from a lethargic first three quarters of the year as firms eye deal-making opportunities Deal-making slumped to its lowest level in a decade in January-September on the back of Covid-19 uncertainty and no sign of anything but a moderate price recovery following the Q1 crash. But heading into the final quarter of the year, US independent ConocoPhillips agreed to acquire Texas-based Concho Resources for $13.3bn, the largest upstream shale deal since Australian producer BHP completed a $15bn takeover of independent Petrohawk in 2011 (see Fig. 1). And fellow US indie Pioneer Natural Resources struck a deal for shale peer Parsley Energy for $7
Also in this section
19 December 2024
Deepwater Development Conference welcomes Shell’s deepwater development manager to advisory board for March 2025 event
19 December 2024
The government must take the opportunity to harness the sector’s immense potential to support the long-term development of the UK’s low-carbon sector
18 December 2024
The energy transition will not succeed without a reliable baseload, but the world risks a shortfall unless more money goes into gas
18 December 2024
The December/January issue of Petroleum Economist is out now!
