June 10 (Reuters) - The consolidation wave in the U.S. energy sector
that triggered $250 billion worth of deals in 2023 has stretched into this year,
as companies look for opportunities to deploy their cash hoard and boost their
reserves.
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.
In 2023, some 39 private companies were acquired by public companies,
Enverus data showed.
Below is a list of deals in the U.S. oil and gas sector so far this year:
Announcement Target Acquirer Deal value Deal Closing
date (in $) type date
June 10 Noble Corp 1.59 bln Cash and Q1,
Diamond stock 2025
Offshore
Drilling
May 29 Marathon Oil ConocoPhillips 22.5 bln Q4,
All-stoc 2024
k
May 28 Energy 3.25 bln Cash and Q3,
WTG Midstream Transfer stock 2024
May 16 Crescent 2.1 bln Cash and End of
SilverBow Energy stock Q3,
Resources 2024
April 2 SLB 7.8 bln All-stoc End of
ChampionX k 2024
March 11 EQT Corp 5.5 bln All-stoc Q4,
Equitrans k 2024
Midstream
February 21 Chord Energy 3.84 bln Cash and Mid
Enerplus Corp stock 2024
February 12 Diamondback 26 bln Cash and Q4,
Endeavor Energy stock 2024
Energy
January 22 Sunoco 7.3 bln All-stoc Deal
NuStar Energy k closed
January 15 Talos Energy 1.29 bln Cash and Deal
QuarterNorth stock closed
Energy
January 11 Chesapeake 7.4 bln All-stoc Second
Southwestern Energy k half,
Energy 2024
January 7 California 2.1 bln All-stoc Second
Aera Energy Resources k half,
2024
January 4 APA Corp 4.5 bln All-stoc Deal
Callon k closed
Petroleum
Following are some of the biggest deals which were announced in 2023:
Announcement Target Acquirer Deal Deal
date value (in type Closing
$) date
May 14 Magellan ONEOK 18.8 Cash Deal
Midstream bln and closed
Partners stock
October 11 Pioneer Exxon 59.5 Deal
Natural Mobil bln All-stoc closed
Resources k
October 24 Hess Corp Chevron 53 bln
All-stoc Timeline
k delayed
December 11 CrownRock Occidenta 12 bln Cash Q2,
l and 2024
Petroleum stock
This graphic does not include the ConocoPhillips-Marathon Oil and Noble-Diamond
Offshore deals.
(Compiled by Mrinalika Roy, Sourasis Bose, Tanay Dhumal, Vallari Srivastava and
Seher Dareen in Bengaluru; Edited by Vijay Kishore and Savio D'Souza)