More US energy deals likely in 2024 in wave of consolidation


The majority of energy executives polled in December by the Federal Reserve Bank of Dallas expected more oil deals worth $50 billion or higher to pop up in the next two years.

However, as a wave of consolidation sweeps the sector, the U.S. Federal Trade Commission (FTC) has taken a sharper look at energy deals of late.

Below is a list of deals in the U.S. oil and gas sector so far this year:

Target

Acquirer

Deal value (in USD)

Deal type

Closing date

Callon Petroleum

APA Corp

4.5 bln

All-stock

Q2, 2024

Southwestern Energy

Chesapeake Energy

7.4 bln

All-stock

Q2, 2024

QuarterNorth Energy

Talos Energy

1.29 bln

Cash & stock

End of Q1, 2024

NuStar Energy

Sunoco

7.3 bln

All-stock

Q2, 2024

Reporting by Mrinalika Roy in Bengaluru; Editing by Shweta Agarwal – Reuters



This article was originally posted at sweetcrudereports.com

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