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Global Deals, European Impact: The Consolidation Wave in Oil & Gas

Article, Expert Insight

As we approach the midpoint of 2024, the Oil and Gas (O&G) industry continues to experience a significant consolidation boom that began in late 2023. Within the European sector, the momentum is equally robust, with 60 M&A transactions reported in Q1 2024, accumulating a total value of $3.4 billion, according to Global Data’s Deals Database.

Beetaloo to the Big Apple: Tamboran Resource’s Strategic IPO Launch on NYSE

Article, Expert Insight

Tamboran Resources became the first non-U.S. energy company since 2014, and the first non-revenue E&P firm since 2009, to go public on the New York Stock Exchange. This Australian natural gas exploration and production company is strategically expanding in the Beetaloo Basin, one of the world’s most promising shale gas fields located about 300 miles southeast of Darwin in the Northern Territory of Australia.

The Next Wave of Consolidation: Navigating M&A and Strategic Divestitures in U.S. Oil and Gas

Expert Insight

The Oil and Gas (O&G) industry, particularly in the United States, is currently witnessing a historic merger and acquisition (M&A) frenzy. In the first quarter of 2024, the sector recorded 251 deals globally with a disclosed value of USD 101 billion, despite a global 7% decrease in the number of announced deals and a 48% reduction in total disclosed value compared to the previous quarter.

Phillips 66 Advances in the Permian Basin with Strategic Pinnacle Midstream Purchase

Expert Insight

In a continuation of the oil and gas industry’s trend toward mega-consolidation, Phillips 66 (NYSE: PSX) announced a significant enhancement to its Midstream operations with the acquisition of Pinnacle Midland Parent LLC (Pinnacle) from Energy Spectrum Capital for $550 million in cash. This move extends the consolidation trend into the Midstream and Downstream sectors, with Phillips 66 strategically positioning itself in the heart of the Permian Basin.