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BREAKING NEWS:

Vista Projects
Copper Tip Energy Services
Copper Tip Energy
Vista Projects


THE SUMMARY: U.S. Energy Sector Consolidation Extends into 2024


These translations are done via Google Translate
(Reuters) – The consolidation wave in the U.S. energy sector that triggered $250 billion worth of deals in 2023 has stretched into this year, as companies look for opportunities to deploy their cash hoard and boost their reserves.
Below is a list of deals in the U.S. oil and gas sector so far this year:
Announcement date
Target
Acquirer
Deal value (in $)
Deal type
Closing date
June 10
Noble Corp
1.59 bln
Cash and stock
Q1, 2025
May 29
ConocoPhillips
22.5 bln
All-stock
Q4, 2024
May 28
Energy Transfer
3.25 bln
Cash and stock
Q3, 2024
May 16
Crescent Energy
2.1 bln
Cash and stock
End of Q3, 2024
April 2
SLB
7.8 bln
All-stock
End of 2024
March 11
EQT Corp
5.5 bln
All-stock
Q4, 2024
February 21
Chord Energy
3.84 bln
Cash and stock
Mid 2024
February 12
Diamondback Energy
26 bln
Cash and stock
Q4, 2024
January 22
Sunoco
7.3 bln
All-stock
Deal closed
January 15
Talos Energy
1.29 bln
Cash and stock
Deal closed
January 11
Chesapeake Energy
7.4 bln
All-stock
Second half, 2024
January 7
California Resources
2.1 bln
All-stock
Second half, 2024
January 4
APA Corp
4.5 bln
All-stock
Deal closed
Following are some of the biggest deals which were announced in 2023:
Announcement date
Target
Acquirer
Deal value (in $)
Deal type
Closing date
May 14
ONEOK
18.8 bln
Cash and stock
Deal closed
October 11
Exxon Mobil
59.5 bln
All-stock
Deal closed
October 24
Chevron
53 bln
All-stock
Timeline delayed
December 11
Occidental Petroleum
12 bln
Cash and stock
Q2, 2024
Reuters Graphics
Reuters Graphics
This graphic does not include the ConocoPhillips-Marathon Oil and Noble-Diamond Offshore deals.

Compiled by Mrinalika Roy, Sourasis Bose, Tanay Dhumal, Vallari Srivastava and Seher Dareen in Bengaluru; Edited by Vijay Kishore and Savio D’Souza



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