Occidental’s Anadarko Acquisition Tops US Oil Deals Of Last Decade

U.S. oil and gas M&A reached a five-year peak of $96 billion in 2019. However, a report from Enverus found the annual total was substantially skewed by Occidental’s acquisition of Anadarko Petroleum. 

Occidental’s Anadarko Acquisition Tops US Oil Deals Of Last Decade

Occidental’s acquisition of Anadarko Petroleum in 2019 was the largest deal of the decade and the fourth-largest oil and gas deal ever, according to Enverus. (Source: Anadarko Petroleum/Shutterstock.com)

Over the past decade, which saw both the shale land grab and one of the worst oil market crashes, the U.S. oil and gas industry experienced a whirlwind of deal-making with total dollar value reaching into the hundreds of billions.

However, the largest oil and gas deal in the U.S. of the decade is this past year’s acquisition of Anadarko Petroleum by Occidental Petroleum Corp., according to a new report published by energy data provider Enverus on Jan. 2.

In total, Enverus tracked $775 billion of U.S. oil and gas M&A this decade, with 73% spent on shale assets. Though by the end of the decade, asset buying has grown largely out of favor as E&Ps turn to corporate consolidation to meet investor demands that have emerged in recent years.

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Emily Patsy

Emily Patsy is the senior managing editor for Hart Energy’s Digital News Group. She's responsible for the daily news flow and also manages the A&D Watch and Energy Pulse weekly newsletters.