Still, deal value in the first nine months only totaled $36 billion, significantly less than the $56 billion recorded in the same period last year.Īccording to Enverus, the biggest M&A deal last quarter was EQT Corp’s (NYSE: EQT) $5.2 billion purchase of natural gas producer THQ Appalachia I LLC as well as associated pipeline assets of XcL Midstream. In its quarterly report, Enverus notes that the 3rd quarter was the most active quarter in oil and gas so far this year. oil patch is now slowly starting to recover, with Enverus noting that mergers and acquisitions picked up pace to $16 billion in Q3, the most this year. oil and gas dealmaking contracted 65% Y/Y to $12 billion in Q2, a far cry from $34.8 billion in last year’s corresponding period, as high commodity price volatility left buyers and sellers clashing over asset values.īut dealmaking in the U.S. However, the 2020 oil price crash that sent oil prices into negative territory has seen energy companies adopt a more restrained, strategic, and environment-focused approach to cutting M&A deals.Īccording to data released by energy intelligence firm Enverus, cited by Reuters, U.S. Previously, oil and gas companies made numerous aggressive tactical or cyclical acquisitions in the wake of a price crash after many distressed assets became available on the cheap. The last two energy crises that threatened hundreds of energy companies with bankruptcy have rewritten the oil and gas M&A playbook.
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