After more than $230 billion worth of mergers and acquisitions in the U.S. oil and gas industry in 2023, the M&A momentum continued in the first half of 2024, too, with tens of billions of dollars worth of new deals announced so far this year. Last year, U.S. oil and gas exploration and production companies spent as much as $234 billion on M&As—the highest such spend in real dollar terms since 2012, the Energy Information Administration (EIA) said in an analysis in March. The deal-making of the past year marks a return to the consolidation trend from before 2020, the EIA noted. Between 2020 and 2022, heightened market volatility and uncertainties in demand and supply led to a decline in transactions. Now deals are being announced almost every week, since ExxonMobil and Chevron announced in October 2023 their respective deals worth over $50 billion each. Since the end of 2022, the U.S. upstream sector has been announcing more deals in terms of value compared to the international upstream industry, according to data from Enverus M&A Analytics cited by Reuters on Monday. The record so far in the U.S. upstream dealmaking was in the fourth quarter of 2023, with a total of $144.3 billion of transaction value announced. This included Exxon and Chevron’s mega-deals. This year, the latest merger in the U.S. oil and gas industry was announced at the end of May when ConocoPhillips said it had agreed to buy Marathon Oil in an all-stock deal with an enterprise value of $22.5 billion, inclusive of $5.4 billion of net debt. The merger wave is far from over, many market observers say. The deal value so far this year has already surpassed the total deal value of $69 billion recorded for the entire first half of 2023, Atul Raina, Vice President of Upstream M&A Research at Rystad Energy, wrote in an analysis at the end of May. “Overall, North America is expected to continue driving this future M&A activity, with opportunities worth nearly $80 billion on the market, including nearly $41 billion worth of non-Permian shale opportunities,” Raina said days before the ConocoPhillips-Marathon Oil deal was announced. By Tsvetana Paraskova for Oilprice.com
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*Always love walking into office and seeing gear. This fall / winter this hoodie will look sharp for our DOTS TEAM. Well Done #ChangingTheWayYouViewEnergyCompanies #RM
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Staffed by industry veterans, All In One Maintenance is Duncan Oil’s own petroleum maintenance division that has been in operation for over twenty years. As the petroleum industry continues to grow with technological advancements, so does All In One’s repertoire with the already skilled technicians continually adding to their knowledge base by remaining industry certified in a variety of petroleum maintenance avenues. ENVIRONMENTAL Our All In One Environmental division offers a wide range of unique solutions for your particular environmental needs, such as EPA Response, New Regulation Assistance, State Regulatory Compliance, Local Fire Code, Weights and Measures, Closure Sampling and Reporting, Installation, Removal, and Abandonment, Piping and Repair, Manifold Work, Stage II System Maintenance, and other miscellaneous above ground and underground storage tank needs. CONSTRUCTION Duncan Oil offers complete, turn-key fuel centers for sites looking to add retail fueling to their location. We will first provide an analysis on the viability of the fuel center, then design, permit, and build the site to your specific requirements. We will be by your side every step of the project, from the forecasting process, to the grand opening, and throughout your site’s fuel supply. POS INSTALLS Duncan Oil can help inside your store as well, with complete POS installation solutions available, as well as integration with fuel controllers and reward programs. Our All In One Maintenance team is Gilbarco/VeederRoot and Incon trained, and VeriFone certified, and can help with any issues you and your POS system may encounter.
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Getting our Morning Walk with My Cuz ( Accounts Payable ) who keeps me in line l- Love Ya Kid 💖 #ChangingTheWayYouViewEnergyCompanies #RM
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