The first quarter of 2023 presented relatively slim pickings where merger and acquisitions (M&A) in the oil and gas upstream segment were concerned, per a new report from Enverus Intelligence Research (EIR), a subsidiary of Enverus. All told for the year’s first three months, EIR was able to total up just $8.6 billion in M&A value among 16 significant upstream transactions.
A Focus on the Eagle Ford Shale
One interesting aspect is that deals focused on the Eagle Ford Shale accounted for more than $5 billion in total value, overshadowing the Permian Basin, which has been the major focus area for upstream activity for the better part of a decade. “It was the best quarter for the Eagle Ford in almost ten years,” Andrew Dittmar, Director at Enverus, told me in an interview. “One of the top three, certainly, since 2010.”
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