US domestic M&A sent reeling
Deal-making across the oil and gas patch has slowed to a crawl despite a swathe of potential devalued assets and strained companies eager to divest
M&A activity in the Lower 48 states of the US has nose-dived this year, reflecting alarming economic conditions and lack of spare cash available across the sector. Chevron’s recent $5bn takeover of US independent Noble Energy was a rare example of a big-name player splashing the cash, in what has otherwise been an eerily quiet period for deal-making. Natural gas proved the most attractive segment in the first half of the year, despite Henry Hub gas pricing falling to record lows. The Energy Information Administration (EIA) recorded average monthly spot pricing for the first six months of 2020 at just $1.81/mn Btu, slumping to $1.63/mn Btu during June—the lowest level seen since at least
Also in this section
10 December 2024
Sector at economic and strategic crossroads, but clear path ahead for midstream additions
30 November 2024
Decades of turmoil have left Iraq’s vast energy potential underutilised, but renewed investment and strategic reforms are transforming it into a key player in the region
29 November 2024
The country's fifth and sixth oil and gas bid rounds have attracted a range of new players with gas as well as oil ambitions—and there’s a seismic shift in the contracting process
28 November 2024
Iraq is charting a new path for its indigenous resources and its youth, hoping to electrify the future with a mix of reforms and modernisation to fuel growth
