Rystad predicts upstream M&A uptick in 2024

After the biggest first quarter for global upstream dealmaking in five years, the industry could see another USD150 billion of merger and acquisition (M&A) deals in the remainder of 2024, said industry analyst Rystad Energy. With global M&A deal value crossing the USD64 billion mark already this year, it represents the strongest first-quarter performance since 2019 and a 145 percent increase on the first quarter of 2023, fuelled primarily by consolidation in the US shale patch.