Oct-Dec 2020 Saw rise in oil and gas dealmaking

Oil and gas producers were engaged in the most deals of the year in the fourth quarter of 2020.

Canada (Natural Energy News): The fourth quarter saw deals worth $ 27.1 billion by oil and gas producers — an increase of $ one billion from the prior quarter.

Related Article: Union government eyes Rs 90,000 crore from BPCL stake sale

Boltstring figures in the Permian Basin were three multi-billion dollar acquisitions, including a substantial acquisition of Conco Resources for $ 13 billion, Pioneer Natural Resources acquisition of Parsley Energy for approximately $ 8 billion, and QE Resources and Diamondback's acquisition of Qi Resources 3 Operating in dollars was included Arab.

According to Enverus, the actual number of all deals was smaller during 2020, the lowest 140 since 2006. It was expected to be a weak M&A year across all sectors. It was But it was also made weaker by looking at the coronavirus. The deals that took place in an effort to survive in a low-cost environment were more necessary.

For the year 2021, Enverus sees a surge of the coalition in the oil and gas sector on the edge, as corporations developing from Chapter 11 now fit and trim and know the coalition partners more.

Related Article: India inaugurates first remote monitoring system for oil refineries

Canada's oil and gas merger scene is also heating up with WhatsApp Resources, leading the way in the acquisition of two companies - NAL Resources in 2020 and TORC Oil & Gas in 2021.

Other 2020 Canadian oil and gas mergers include the merger of Cenovus Energy and Husky Energy, and the merger between Obsidian Energy and Bonatra Energy Corp in August.

2021 should see United States oil and gas companies continue to tighten non-core aids and streamlines and belts, and probably begin again a direction of vitality in preparation for the arriving administration, which is glimpsed as more climate-friendly.

Related Article: Coal India Capex utilization of over Rs 8,000 crore by December, revised target 13,000 crore

Post a Comment