While U.S. oil and gas deals slowed considerably in the first quarter of 2023, industry players are poised to make significant investments in shale over the next year, according to Axios.
Oil and gas mergers and acquisitions fell to $14.8 billion in the first quarter, down 47% from the fourth quarter of 2022, according to a report from accounting firm KPMG. However, after a record-breaking year left companies flush with cash, producers will be incentivized to “secure inventory, create operational efficiencies and put their capital to work,” Mike Harling, energy sector lead partner at KPMG, told Axios.
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