After a two-year hiatus triggered by the historic oil price crash of 2020, the U.S. oil and gas sector saw a surge in mergers and acquisitions (M&A) in 2023 despite a general slowdown in deal-making in many sectors. Last year, the sector leveraged high stock prices and went on a $250 billion buying spree, mostly aimed at securing lower-cost reserves that will help them deal with future challenges.
Much of the activity was crammed into the fourth quarter with Enverus Intelligence Research (EIR), a subsidiary of Enverus, reporting that Q4 recorded a massive $144 billion in upstream…
