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Enverus, the leading energy SaaS and data analytics company, has released its summary of 1Q21 U.S. upstream M&A activity. The report shows $3.4 billion in deal value was transacted during the quarter - an 88% decline from 4Q20. This is the third year in a row U.S. activity has started slow.
Oil & Gas Deal Value Falls 88% In 1Q21 To $3.4B
Despite decline, Pioneer’s historic DoublePoint buy has Q2 off to a strong start
Enverus, the leading energy SaaS and data analytics company, has released its summary of 1Q21 U.S. upstream M&A activity. The report shows $3.4B in deal value was transacted during the quarter an 88% decline from 4Q20. This is the third year in a row U.S. activity has started slow. Deals rallied in 2019 and 2020, and in 2Q21, activity has picked up with Pioneer Natural Resources’ $6.4B buyout of privately held DoublePoint Energy.
Q1 deal activity largely focused on production-heavy assets in legacy oil plays. Combined, the Bakken and Eagle Ford accounted for two-thirds of total deal value despite having only three significant deals across the two plays (two in the Bakken and one in the Eagle Ford). A strong rally in crude oil prices improving cash flow from these more developed areas likely helped spur the additional buyer interest.
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AUSTIN, Texas, April 8, 2021 /PRNewswire/ Enverus, the leading energy SaaS company, has released its summary of 1Q21 U.S. upstream M&A activity. The report shows $3.4 billion in deal value was transacted an 88% decline from 4Q20. This is the third year in a row U.S. activity has started slow.
Q1 deal activity largely focused on production-heavy assets in legacy oil plays. Combined, the Bakken and Eagle Ford accounted for two-thirds of deal value. A strong rally in crude oil prices improving cash flow from these more developed areas likely helped spur the additional buyer interest.
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10 Feb, 2021 Author Allison GoodGaurang Dholakia
Large-scale oil and gas M&A deal-making got a boost in January from a pair of billion-dollar acquisitions by New Fortress Energy Inc., according to S&P Global Market Intelligence data.
During the month, the sector announced 37 whole-company and minority-stake deals, compared to 27 in January 2020. The combined value of the January 2021 deals soared year over year from $616 million to $5.13 billion.
The aggregate value of announced asset transactions, however, decreased 22% from $950 million to $739 million as the number of deals fell from 32 to 28.
New Fortress Energy s acquisitions of Hygo Energy Transition Ltd. for $2.76 billion and Golar LNG Partners LP for $1.56 billion were the biggest deals announced during January.