Deals
Oil Patch Is Poised for Buyout Wave as US Drillers Seek New Land
- Cash-rich oil drillers are well positioned to acquire assets
- OPEC+’s surprise cut helps stabilize prices, facilitate deals
Pumpjacks in Midland, Texas.
Photographer: Jordan Vonderhaar/BloombergThis article is for subscribers only.
The US energy patch is ripe for a takeover boom, as oil and gas producers flush with cash turn to dealmaking to find new sites to drill.
Energy producers raked in record profits after Russia’s invasion of Ukraine sent crude prices soaring, helping them rebound from their crash during the pandemic.