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Upstream M&A Deals Slow in 2Q, Two of Top 3 Deals Located in M-U

Marcellus Drilling News

According to Enverus Intelligence Research, the upstream M&A (mergers and acquisitions) sector “hit the brakes” during the second quarter, falling 21% quarter-over-quarter to $13.5 There were two Marcellus/Utica deals in the top five. Actually, our two deals were in the top three.

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Upstream M&A hits the brakes, slowing to $14 billion

Enverus

Calgary, Alberta (July 23, 2025) — Enverus Intelligence Research (EIR), a subsidiary of Enverus , the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, is releasing its summary of 2Q2025 upstream M&A activity and outlook for the rest of the year. energy producers, and more than 40,000 suppliers.

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Aramco-Backed MidOcean in Advanced Talks for Major Stake in Canada LNG Unit

OilPrice

Petronas’s Canadian unit includes extensive upstream operations in British Columbia and a 25% stake in the LNG Canada terminal,… The deal, now reportedly in late-stage negotiations, could value the assets between $6 and $7 billion, making it one of the largest LNG transactions of the year.

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Navigating the M&A Landscape in 2025: Insights for Small to Mid-Sized Upstream Operators

Enverus

The first quarter of 2025 has seen a remarkable surge in oil and gas mergers and acquisitions (M&A) within the upstream oil and gas sector, with transactions totaling $17 billion. Conclusion The M&A landscape in 2025 presents both challenges and opportunities for small to medium-sized upstream operators.

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U.S. Majors Cash In as Permian Dominance Widens the Oil Gap

OilPrice

Upstream oil and gas—industry-speak for the exploration and production end of the business—has always been a game of geology, timing, and money. Right now, U.S. oil majors are holding the better hand in the world of E&P. And the reason is simple: they’ve got the Permian, and Europe doesn’t.

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Dealmaking in US upstream oil and gas tumbles as volatility rattles investors 

BOE Report

upstream oil and gas sector, analytics firm Enverus said on Wednesday. Volatility across energy and equity markets spooked investors in the second quarter, slowing the pace of mergers and acquisitions in the U.S.

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Oil and Gas Consolidation Reshapes African Market

OilPrice

Africa’s upstream oil and gas sector is undergoing a transformative shift. In recent years, majors have scaled back their exposure to mature, non-core assets across the continent, opening the door for a new wave of regional independents, traders, and non-African national oil companies (NOCs) to step in as consolidators and value creators.

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