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The oil and gas industry is in “consolidation mode,” and pipeline company DT Midstream Inc. is positioning itself to take advantage of potential mergers and acquisitions, the company’s chief executive officer said.
“We’re very aware of all those bolt-on opportunities around us,” CEO David Slater said on a quarterly earnings call with analysts Friday.
Since last year, there has been a wave of deals among US oil and gas producers as they look to trim costs and line up new well sites. While most of the tie-ups have been between drillers, the pipeline sector is also ripe for acquisitions like Sunoco LP’s purchase of NuStar Energy LP last month, analysts have said.
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