The inevitable collapse of M&A within the oil and gas industry during first-quarter 2020 grinded out a mere $770 million in deals—about one-tenth of typical values—as E&Ps drowned in oversupply, according to a recent Enverus report. 

As oil prices plunged to 18-year lows, the quarter’s deal value fell far below the $8 billion averaged in the past decade. Enverus said that nearly all deals were transacted before the COVID-19 pandemic and the over pumping of crude oil by Saudi Arabia as OPEC’s production détente with Russia fell apart, Enverus said in the April 2 report.

Featured deals of the first quarter included bankruptcy sales and a royalty deal.  

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