$200 Billion of M&A Wasn’t Enough in US Oil Patch: Javier Blas

Even after a record $200 billion dealmaking frenzy last year, US oil and gas producers haven’t consolidated nearly enough. On a-per-barrel basis, there are still too many companies, too many chief executives, and too many drilling rigs wooing a limited pool of available capital.

The solution is simple: more M&A.

Granted, the industry is today a lot slimmer than it once was. If you attend industry events where people still exchange business cards – rather than pair iPhones — and you keep a rolodex, just flip through it to see how much has changed since the pandemic.

I did so a few ...