M&A activity in 2023 furthers consolidation of U.S. crude oil and natural gas firms
In 2023, crude oil and natural gas exploration and production (E&P) companies increased spending on mergers and acquisitions (M&A) to $234 billion, the most in real 2023 dollars since 2012. Recent dealmaking marks a return to the previous trend of consolidation among oil companies in the United States after transactions declined amid significant oil market volatility in 2020 and 2022.In 2023, crude oil and natural gas exploration and production (E&P) companies increased spending on mergers and acquisitions (M&A) to $234 billion, the most in real 2023 dollars since 2012. Recent dealmaking marks a return to the previous trend of consolidation among oil companies in the United States after transactions declined amid significant oil market volatility in 2020 and 2022. Read More
