US shale patch dealmaking stays sluggish
Several prominent deals have helped partially salvage M&A activity, but conditions still look gloomy
The Covid-19 pandemic has had a significant impact on M&A activity in the US shale sector. The pace of deal-making fell to its lowest level in ten years across the first half of 2020 as the WTI price went negative for the first time in history and global energy demand nosedived. Deal-making recovered sharply in Q3 as several high-profile corporate moves helped buck the downward trend. Chevron completed a $13bn acquisition of US independent Noble Energy in July, the fourth-largest upstream deal in the last five years. The transaction represented over 60pc of the total value of M&A completed across the quarter. Noble’s Eastern Mediterranean portfolio was a core motivation for the mer
Also in this section
30 December 2024
After hitting a high in 2019, output dropped during the Covid-19 pandemic, only to resume growth in 2021 and reach new highs. The US government expects 2.4% growth in 2025
19 December 2024
Deepwater Development Conference welcomes Shell’s deepwater development manager to advisory board for March 2025 event
19 December 2024
The government must take the opportunity to harness the sector’s immense potential to support the long-term development of the UK’s low-carbon sector
18 December 2024
The energy transition will not succeed without a reliable baseload, but the world risks a shortfall unless more money goes into gas