U.S. oil and gas M&A activity in third quarter pulls back from 2-yr peak [Reuters]
ConocoPhillips (COP)
Last conocophillips earnings: 4/30 07:00 am
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Source: Reuters
By Reuters Staff 2 Min Read Oct 12 (Reuters) - Dealmaking in the U.S. oil and gas industry in the third quarter of 2021 fell from a two-year high in the previous quarter, according to data analytics firm Enverus on Tuesday, as the industry cools from post-pandemic consolidations and focuses on selling off non-core assets. Mergers and acquisitions (M&A) activity in the July-September quarter totaled $18.5 billion, down 44% from the second quarter, even as it beat the five-year quarterly average M&A value. “The sense of urgency seems to have left the deal market,” Enverus director Andrew Dittmar said. “Through the end of the year, we are likely to see mostly smaller-sized asset deals as companies trim their portfolios with the chance of an occasional larger public company merger or private E&P sale.” Oil producer Conocophillips led the quarterly ranks, the Enverus report showed, after it bought oil giant Royal Dutch Shell Plc’s assets in the Delaware Basin for $9.5 billion in September
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COP
Earnings
- 2/8/24 - Beat
COP
Sec Filings
- 4/17/24 - Form PX14A6G
- 4/17/24 - Form 4
- 4/2/24 - Form 4
- COP's page on the SEC website