E&P asset sales picked up steam in the third quarter, but overall M&A fell as a pair of deals—one in the hot Haynesville Shale and the other in the Permian Basin—propped up an $18.5 billion quarter, according to a recent report by Enverus. 

Overall, M&A dropped 44% from the previous quarter’s record-setting frame, though the $18.5 billion in announced deals still beat the five-year quarterly average of about $16 billion, the Enverus report said.

Public company consolidation slowed, possibly as a result of higher commodity prices lessening the urgency for some small- and mid-cap companies to sell.

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