Two accused teenagers to remain in custody for at least two more weeks | SaltWire #newsupdate #news - The global upstream industry could see dealmaking worth another $150 billion throughout the remainder of the year, with focus shifting to shale plays in U.S. other than the Permian Basin, analysts at Rystad Energy said in a report.
M&A activity in the global upstream industry has already crossed the $64 billion mark this year, most of it focused around the U.S. shale patch.M&A activity in the first-quarter in North America was nearly $54 billion, or 83%, of the worldwide total and the region is expected to be the driving force for consolidation for the rest of the year, the report said.
Other shale plays in the U.S. are also set to attract significant investments, with about $41 billion worth of non-Permian opportunities on the market, according to the report, like the potential sale of Exxon Mobil's Bakken portfolio in North Dakota.Globally, dealmaking in the sector increased 145% year-over-year in the first-quarter to $64 billion, and was the highest since 2019, per the report.
Outside the U.S., dealmaking remained strong in the first quarter, with $10.5 billion changing hands, a 5% y-o-y increase. The demand for gas-producing resources represented about 66% of total oil and gas producing assets bought and sold."...with appetite still strong, deal-hungry players are looking outside the basin for acquisitions.
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