2024 Q3 US energy deals hit $12bn, an 6-quarter low, driven by rising asset prices, fewer targets, and volatile crude prices.
In the third quarter of 2024, U.S. energy deals plummeted to $12 billion, the lowest total in six quarters, following a year of intense consolidation. This downturn was driven by rising asset prices, fewer targets, and volatile crude prices. Notably, public exploration and production companies did not engage in any mergers. Despite the slowdown, analysts anticipate continued consolidation, with private equity remaining active in the market.
October 16, 2024
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