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Tight oil M&A: after Anadarko, remember small deals too

Now that the dust is settling from Occidental’s aggressive grab of Anadarko, tight oil M&A has gone relatively quiet. This is especially the case with private companies who were anticipated to be big sellers. Halfway through 2019, we’re on track for less than two-thirds of the tight oil deals with private and PE-backed sellers we modelled last year.

US shale M&A landscape perking up in lower price range
Although total spend is down, there are M&A standouts. Where? Much smaller deals are sailing under the radar, especially against the contrast of the highly-publicized Anadarko deal.

Today’s deals are less prone to headlines and may be outside the Permian in more PDP-rich basins like the Bakken, Large public companies are still scooping up small patch-ins.
Source: Wood Mackenzie

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