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U.S. oil & gas M&A hit 17-year low; big firms dominate deals-report
U.S. oil and gas deal-making declined by 13% last year to $58 billion compared to 2021, according to energy technology firm Enverus, with the volume of activity hitting its lowest level since 2005 as buyers became more choosy about asset purchases. The decline comes as large companies with strong balance sheets are targeting the best properties in deals valued upwards of a billion dollars, while smaller firms with discounted equity have been unable to find financially attractive assets, Enverus wrote in a note on Tuesday. Oil companies are also grappling with less productive wells, with some viewing asset purchases ... (full story)
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- Posted: Jan 24, 2023 11:37am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 210
