Insight
Global upstream M&A: H1 2024 review and outlook
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Report summary
Half-year deal count fell 2% to 98 – only covid-hit H1 2020 has seen lower activity in the last 20 years. Disclosed spend sunk 47% to US$96 billion but conversely remained among the highest half-year totals recorded. Corporate deal spend reached US$78 billion across just 10 deals. Diamondback-Endeavor, ConocoPhillips-Marathon and Chesapeake-Southwestern accounted for two-thirds of global transaction spend. By contrast, disclosed US asset spend totalled only US$6.6 billion – 60% below the half-year average over the last three years.
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