{"id":1686641,"date":"2022-10-12T13:53:59","date_gmt":"2022-10-12T17:53:59","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1686641"},"modified":"2022-10-12T13:54:10","modified_gmt":"2022-10-12T17:54:10","slug":"u-s-oil-patch-ma-in-q3-tops-16-billion-the-most-this-year","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-oil-patch-ma-in-q3-tops-16-billion-the-most-this-year\/","title":{"rendered":"U.S. oil patch M&#038;A in Q3 tops $16 billion, the most this year"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fu-s-oil-patch-ma-in-q3-tops-16-billion-the-most-this-year%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1686641&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>HOUSTON (Reuters) \u2013     Mergers and acquisitions in the U.S. oil patch accelerated to $16 billion in the third quarter, the most this year, although the nine-month total trails the year-ago period\u2019s, according to figures released on Wednesday by data analytics firm Enverus.<\/p>\n<p>This year\u2019s activity has been subdued, despite strong energy prices due to the economic recovery from the COVID-19 pandemic and a reshaping of global energy flows triggered by Russia\u2019s invasion of Ukraine.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>The deal value in the first nine months totaled $36 billion, less than the $56 billion in the same period last year, Enverus Intelligence Research said.<\/p>\n<p>The drop reflected averse investor sentiment toward oil M&#038;A, rising recessionary risks, and concerns about oilfield cost inflation, the data analytics firm added.<\/p>\n<p>\u201cCompanies are using the cash generated by high commodity prices to pay down debt and reward shareholders rather than seeking out acquisitions,\u201d said Andrew Dittmar, director of Enverus.<\/p>\n<p>The biggest deal in the last quarter was EQT Corp\u2019s $5.2 billion purchase of natural gas producer Tug Hill\u2019s THQ Appalachia I LLC and associated pipeline assets of XcL Midstream, both backed by private equity firm Quantum Energy Partners.<\/p>\n<p>The second-largest was German asset manager IKAV\u2019s $4 billion deal for Aera Energy, a California oil joint venture between Shell Plc and Exxon Mobil.<\/p>\n<p>The Permian Basin, the top U.S. shale oil field and typically the focus of some of the sector\u2019s richest deals, accounted for only about 10% of the period\u2019s total, the data showed.<\/p>\n<p>However, Diamondback Energy Inc\u2019s $1.6 billion acquisition of a Permian rival earlier this week could set off a new round of deals in the West Texas and New Mexico production hot spot, said Dittmar.<\/p>\n<p> (Reporting by Gary McWilliams; Editing by Savio D\u2019Souza)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/u-s-oil-patch-ma\/attachment\/the-sun-is-seen-behind-a-crude-oil-pump-jack\/\"><img decoding=\"async\" src=\"https:\/\/c3.oann.com\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2022binary_LYNXMPEI9B0RL-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI9B0RL-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>HOUSTON (Reuters) \u2013 Mergers and acquisitions in the U.S. oil patch accelerated to $16 billion in the third quarter, the most this year, although the nine-month total trails the year-ago<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1686641","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1686641","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1686641"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1686641\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1686641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1686641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1686641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}