comparemela.com

Latest Breaking News On - Permian focused doublepoint energy - Page 1 : comparemela.com

Oil and Gas deal value falls 88 per cent in 1Q21 to USD 3 4 billion

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

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.

Oil & Gas Deal Value Falls 88% in 1Q21 to $3 4 Billion

Share this article Share this article 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.

© 2024 Vimarsana

vimarsana © 2020. All Rights Reserved.