US oil & gas saw record upstream M&A deals in 2011

The States’ upstream oil and gas sector apparently saw record activity in mergers and acquisitions last year. Houston-based research firm PLS reported deals for 2011 accounted for $86billion, nine billion […]

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By Vicky Ellis

The States’ upstream oil and gas sector apparently saw record activity in mergers and acquisitions last year. Houston-based research firm PLS reported deals for 2011 accounted for $86billion, nine billion dollars more than the year before. Ronyld W. Wise, president of PLS said the strong activity was driven by “industry appetite for oil-rich resource plays, particularly the North Dakota Bakken shale, Texas Eagle Ford shale and Ohio Utica shale.” He added: “We expect continued strong activity in oil and liquids-rich resource plays in 2012.”