ENERGY ADVISORS RESEARCH

A&D PERSPECTIVES (MEDIA VERSION)

34 Pages

U.S. A&D Review and Themes - 3Q 2023

$14.1 Billion in Deals, Down 42%

All Top 10 Deals Are Oil-Weighted

Public Companies Buy 96% of Deals

Permian Basin Remains Hotspot

Expect Publics to Continue Buying

Look for Return of Natural Gas Deals

Small to Mid Size Deals to Increase

New Smaller Private Equity Players Entering

Valuations Reflect Higher Interest Rates

XOM Buys Denbury in Largest Deal - $4.9 Bn

After Q3, XOM Also Buys PXD - $64.5 Bn

CONTACT EAG FOR FULL 34 PAGE REPORT

STUDY 6001MA