Mergers and acquisitions in U.S. oil and gas industry hit 17-year low
Last year U.S. oil and gas transactions declined 13% to $58 billion from 2021, according to energy technology company Enverus. At the same time, transaction volume reached its lowest level since 2005 as buyers became more picky about assets.
The reason for the decline is that big companies with strong balance sheets target the best properties in deals of more than a billion dollars. At the same time, according to a recent Enverus note, smaller firms with limited budgets can struggle to find financially attractive assets.
Oil companies are also struggling with less beneficial boreholes. Some of them even search for asset purchases in order to retain incoming oil and gas volumes.
According to Andrew Dittmar, a director at Enverus, the oil and gas market is a platform where prosperous ones get even richer.
At the present time, the cost of gold is firmly entrenched at $1,900 dollars per ounce. That mark is already very close to a possible maximum predicted by analysts. That kind of dynamics is driven by noticeable dollar weakening and decrease in the yields of the U.S. government bonds.
27 JanuaryAccording to expectations of strategists of the Internationale Nederlanden Groep, gold will grow in 2023.
27 JanuaryThe U.S. economy unfolded more actively in the fourth quarter than analysts might have expected. However, domestic demand grew at the slowest pace in 2.5 years, reflecting the impact of higher credit costs.
27 JanuaryThe U.S. strategic petroleum reserve (SPR) decreased by more than 40% in two years. The reserves were 371.57 million barrels on January 20, compared to 638.08 million barrels a year ago.
27 JanuaryThe European Union plans to implement a $100-per-barrel limit on Russian diesel fuel.
27 January