Fresh Wave of Shale M&A Is Poised to Reshape Sector, Rystad Says

Small and medium-sized US oil and gas producers are expected to lead a new wave of shale mergers and acquisitions, according to industry consultant Rystad Energy.

Operators will pursue deals within their smaller-sized peer group, Rystad said in a statement. Shale explorers such as Permian Resources Corp. may emerge as either acquirers or targets, while a tie-up between Coterra Energy Inc. and Ovintiv Inc. would offer an example of a merger of equals, Rystad said.