Calgary-based Enverus Intelligence Research said Wednesday the value of M&A activity (mergers and acquisitions) in the first half of 2025 was down 60 percent from the value in first half of last year. 2025 first half value was $30.5 billion. Principal analyst Andrew Dittmar said, “Volatility in commodity and equity markets raised a major yellow flag for M&A, slowing the pace of dealmaking. That added an additional barrier to a market that was already challenged by the lack of remaining attractive opportunities for public E&Ps (exploration and production companies), especially in the Permian Basin.”
With the Permian and other major unconventional plays increasingly locked down by large public operators, buyers are taking more creative maneuvers to secure undeveloped inventory. Dittman added, “After having a Permian-centric market for the last few years, the race to add economic location is pushing buyers into a more geographically diverse set of deals.”
Among the top deals in 2Q was Permian Resources’ acquisition for $608 million of property in Delaware Basin from APA.
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