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The latest oil and gas news, dedicated to all things oil and gas: people, technologies, transactions, trends, and macro-economic analysis that impact commodity prices.
ConocoPhillips has agreed to acquire Marathon Oil in a $22.5 billion deal, aiming to increase scale, cash flow, and earnings while diversifying its exposure in several U.S. shale basins.
Oil and gas producer Crescent Energy has agreed to buy rival SilverBow Resources for $2.1 billion, a deal which would create the second-largest operator in the Eagle Ford basin in south Texas.
After facing regulatory scrutiny, Exxon Mobil closed a roughly $60 billion acquisition of Pioneer Natural Resources. The largest shale oil transaction ever signed will reshape the order of power in the vast Permian Basin oil field.
Oil and gas dealmaking continued at a high clip in the first quarter, especially in the Permian Basin. But a thinning list of potential takeout targets, and an invigorated Federal Trade Commission, are chilling the red-hot M&A market.