Wall Street Is Warming to Big Shale After $250 Billion of Deals

 

• Shale drillers can ‘consolidate or get eaten’: Warwick CEO
• US oil producers now in ‘arms race’ for scale, investor says

This week’s $26 billion combination of two Texas oil companies is the latest in a series of deals that’s ushering in the era of Big Shale. Wall Street, which eyed the sector with skepticism for most of the last decade, appears to be all in.

Diamondback Energy Inc.’s takeover of Endeavor Energy Resources LP announced on Feb. 12 topped off a year of roughly $250 billion in US oil and natural gas deals that consolidated a fractured collection of private wildcatters into larger corporations.

https://www.bloomberg.com/news/articles/2024-02-17/wall-street-is-warming-to-big-shale-after-250-billion-of-deals