M&A activity in 2023 furthers consolidation of U.S. crude oil and natural gas firms

M&A activity in 2023 furthers consolidation of U.S. crude oil and natural gas firms
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19.03.2024

In 2023, crude oil and natural gas exploration and production (E&P) companies increased spending on mergers and acquisitions (M&A) to $234 billion, the most in real 2023 dollars since 2012. Recent dealmaking marks a return to the previous trend of consolidation among oil companies in the United States after transactions declined amid significant oil market volatility in 2020 and 2022.

Full article at eia.gov

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