FACTBOX-US energy sector consolidation trend continues in 2024

Reuters04-02

(Adds SLB)

April 2(Reuters) - The $250-billion consolidation wave that swept through the US energy sector in 2023 has continued into 2024, with experts anticipating further transactions as energy firms aim to improve inventory longevity while minimising costs.

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:

Target Acquirer Deal value Deal type Closing

(in $) date

Chord 3.84 bln Cash and Mid 2024

Enerplus Corp Energy stock

Diamondback 26 bln Cash and Q4, 2024

Endeavor Energy stock

Energy

APA Corp 4.5 bln All-stock Q2, 2024

Callon

Petroleum

Chesapeake 7.4 bln All-stock Q2, 2024

Southwestern Energy

Energy

Talos 1.29 bln Cash and End of Q1,

QuarterNorth Energy stock 2024

Energy

Sunoco 7.3 bln All-stock Q2, 2024

NuStar Energy

California 2.1 bln All-stock Second

Aera Energy Resources half, 2024

EQT Corp 5.5 bln All-stock Q4, 2024

Equitrans

Midstream

SLB 7.8 bln End of

ChampionX 2024

All-stock

(Compiled by Mrinalika Roy, Sourasis Bose and Seher Dareen in Bengaluru; Edited by Shweta Agarwal, Shounak Dasgupta and Ravi Prakash Kumar)

((mrinalika.roy@thomsonreuters.com))

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showed.</p><p>   Below is a list of deals in the U.S. oil and gas sector so far this year:</p><p>Target          Acquirer     Deal value  Deal type  Closing</p><p>                             (in $)                 date</p><p>                Chord        3.84 bln    Cash and   Mid 2024</p><p>Enerplus Corp   Energy                   stock      </p><p>                Diamondback  26 bln      Cash and   Q4, 2024 </p><p>Endeavor        Energy                   stock      </p><p>Energy                                              </p><p>                APA Corp     4.5 bln     All-stock  Q2, 2024</p><p>Callon                                              </p><p>Petroleum                                           </p><p>                Chesapeake   7.4 bln     All-stock  Q2, 2024</p><p>Southwestern    Energy                              </p><p>Energy                                              </p><p>                Talos        1.29 bln    Cash and   End of Q1,</p><p>QuarterNorth    Energy  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Below is a list of deals in the U.S. oil and gas sector so far this year:Target          Acquirer     Deal value  Deal type  Closing                             (in $)                 date                Chord        3.84 bln    Cash and   Mid 2024Enerplus Corp   Energy                   stock                      Diamondback  26 bln      Cash and   Q4, 2024 Endeavor        Energy                   stock      Energy                                                              APA Corp     4.5 bln     All-stock  Q2, 2024Callon                                              Petroleum                                                           Chesapeake   7.4 bln     All-stock  Q2, 2024Southwestern    Energy                              Energy                                                              Talos        1.29 bln    Cash and   End of Q1,QuarterNorth    Energy                   stock      2024Energy                                                              Sunoco       7.3 bln     All-stock  Q2, 2024NuStar Energy                                                       California   2.1 bln     All-stock  SecondAera Energy     Resources                           half, 2024                EQT Corp     5.5 bln     All-stock  Q4, 2024Equitrans                                           Midstream                                                           SLB          7.8 bln                End ofChampionX                                           2024                                         All-stock  (Compiled by Mrinalika Roy, Sourasis Bose and Seher Dareen in Bengaluru; Edited by Shweta Agarwal, Shounak Dasgupta and Ravi Prakash Kumar)((mrinalika.roy@thomsonreuters.com))","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.5","shortVersion":"4.22.5","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2424401730"}