Natural gas assets emerged as a bright spot for upstream mergers and acquisitions in the oil and gas industry in third quarter. Enverus Intelligence Research said last week buyers remain constructive on the commodity as LNG exports and growing datacenter power demand fuel expectations for higher prices. A diverse group of buyers – including TotalEnergies, Stone Ridge Energy and Diversified Energy – recently pursued acquisitions in Anadarko Basin in western Oklahoma and the Texas panhandle drawn by its ability to supply significant gas volumes in addition to liquids.
“Natural gas is gaining momentum heading into fourth quarter of 2025 and 2026,” Andrew Dittman, analyst, said Oct. 22.
The Enverus report added, “While existing private equity portfolio companies seem to be sitting tight until oil prices improve, a new wave of capital is actively scouting for opportunities. With major shale plays and core inventory largely locked up by big public operators, these teams are adjusting their strategy by looking to secondary basins, deeper intervals in the always dynamic Permian Basin, and even exploring international options.”
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