Oil and gas mergers total $250 billion in just 12 months

Are you updated with the latest Oil and gas mergers? We have been in the habit of somewhat cavalierly discussing things like the federal budget or U.S. debt in terms of trillions of dollars. In recent years, numbers are so enormous that they defy the human mind’s ability to comprehend them. One number jumps off the page of the latest quarterly review of oil and gas upstream mergers and acquisition activity from energy data and analysis firm Enverus Intelligence Research (EIR).

EIR finds that over the past 12 months, upstream consolidation deals have totaled to an unprecedented $250 billion. This equates to a quarter of a trillion. So, we haven’t reached $1 trillion, but the very fact this number can be reasonably expressed as a meaningful fraction of that level is somewhat astonishing. It shows just how intense this latest rush to consolidate and grow larger in America’s shale patch has been.

have you heard the $22.5 billion merger between oil giants ConocoPhillips and Marathon Oil? it is the most current quarter of April through June saw more than $30 billion in new deals transacted. Andrew Dittmar. The principal analyst at EIR, notes that upstream M&A activity has reached that level in just three previous quarters since EIR began tracking this information.

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Source: Forbes

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