Oil and Gas M&A Set to Rebound After Slow Start

M&A continued to plow through a 2022 market wary of war, inflation and a potential recession, with the second quarter producing at least $6.7 billion worth of announced deals—with another $3 billion already announced in June, according to Hart Energy data.

Underscoring transactions were consistently high oil and natural gas prices that may be changing the outlook on the energy transition, at least in the short term.

In PwC’s June 23 deals mid-year outlook, the accounting firm said it expected energy transactions to accelerate in the second half of the year as buyers gain confidence in sustained higher energy prices. Date supplied by the firm showed a $14 billion plunge in the first quarter compared with the same time last year, amid market uncertainties.

But the market has now developed a few wrinkles, PwC said.