Oil companies 'make up for lost time' as consolidation sweeps across industry

Published on 2 Jun 2024 on Yahoo Finance

Oil companies 'make up for lost time' as consolidation sweeps across industry

Oil and gas companies in the US have been on a consolidation tear, and industry watchers predict it isn't over.

Last year, crude oil and natural gas exploration and production companies increased spending on mergers and acquisitions to $234 billion, the biggest amount adjusted for inflation since 2012, according to data from the Energy Information Administration.

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