CDN NEWS | 
US NEWS 
Nov 14 (Reuters) – U.S. energy sector mergers are set to close 2024 on a high note after a blockbuster 2023 when the total deal value hit a record $250 billion, as companies double down on efforts to augment their oil and gas reserves.
Deals worth $12 billion were disclosed in the quarter ended Sept. 30, according to data from Enverus Intelligence Research, and in the first half of November transactions worth about $8 billion have been announced.
The wave of deals has left fewer companies and assets on offer, while some announced combinations have been delayed, either by antitrust regulations or by contract arbitration challenges.
Here is a list of major deals in the U.S. oil and gas sector so far this year:
|
Announcement date
|
Target
|
Acquirer
|
Deal value (in $)
|
Deal type
|
Closing date
|
|
Nov. 14
|
Ovintiv (OVV.N)
|
2.38 bln
|
Cash
|
Q1, 2025
|
|
|
Nov. 14
|
FourPoint Resources
|
2 bln
|
Cash
|
Q1, 2025
|
|
|
Nov. 13
|
Coterra Energy (CTRA.N)
|
3.95 bln
|
Cash and stock
|
Q1, 2025
|
|
|
Oct. 29
|
Equinor (EQNR.OL)
|
1.25 bln
|
Cash
|
Q4
|
|
|
Aug. 28
|
ONEOK (OKE.N)
|
5.90 bln
|
Cash
|
Closed
|
|
|
July 28
|
Vital Energy (VTLE.N) and Northern Oil and Gas (NOG.N)
|
1.1 bln
|
Cash
|
Closed
|
|
|
July 8
|
Devon Energy (DVN.N)
|
5 bln
|
Cash and stock
|
Closed
|
|
|
June 27
|
SM Energy (SM.N) and Northern Oil and Gas (NOG.N)
|
2.55 bln
|
Cash
|
Closed
|
|
|
June 14
|
Unit of Tallgrass Energy
|
1.28 bln
|
Cash
|
Closed
|
|
|
June 12
|
Matador Resources
|
1.91 bln
|
Cash
|
Closed
|
|
|
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
|
Closed
|
|
|
May 16
|
Crescent Energy
|
2.1 bln
|
Cash and stock
|
Closed
|
|
|
April 2
|
SLB
|
7.8 bln
|
All-stock
|
End of 2024
|
|
|
March 11
|
EQT Corp
|
5.5 bln
|
All-stock
|
Closed
|
|
|
Feb. 21
|
Chord Energy
|
3.84 bln
|
Cash and stock
|
Closed
|
|
|
Feb. 12
|
Diamondback Energy
|
26 bln
|
Cash and stock
|
Closed
|
|
|
Jan. 22
|
Sunoco
|
7.3 bln
|
All-stock
|
Closed
|
|
|
Jan. 15
|
Talos Energy
|
1.29 bln
|
Cash and stock
|
Closed
|
|
|
Jan. 11
|
Chesapeake Energy
|
7.4 bln
|
All-stock
|
Closed
|
|
|
Jan. 7
|
California Resources
|
2.1 bln
|
All-stock
|
Closed
|
|
|
Jan. 4
|
APA Corp
|
4.5 bln
|
All-stock
|
Closed
|
|
Announcement date
|
Target
|
Acquirer
|
Deal value (in $)
|
Deal type
|
Closing date
|
|
May 14
|
ONEOK
|
18.8 bln
|
Cash and stock
|
Closed
|
|
|
Oct. 11
|
Exxon Mobil
|
59.5 bln
|
All-stock
|
Closed
|
|
|
Oct. 24
|
Chevron
|
53 bln
|
All-stock
|
Timeline delayed
|
|
|
Dec. 11
|
Occidental Petroleum
|
12 bln
|
Cash and stock
|
Closed
|
Compiled by Mrinalika Roy, Sourasis Bose, Tanay Dhumal, Vallari Srivastava and Seher Dareen in Bengaluru; Editing by Sriraj Kalluvila and Pooja Desai
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