Shale Mergers to Slow Now That Best Targets Taken, Enverus Says

Deal making in the US shale patch is expected to slow after $300 billion in acquisitions over the past two years consolidated the best available targets, according to Enverus.

The pace of mergers between public oil and natural gas producers will slow in 2025 from the recent average of five per year, the industry consultant said in an outlook released Tuesday. Roughly 85% of the remaining drilling spots that can turn a profit below $50 a barrel are now held by oil giants greater than $20 billion in size, according to Enverus.

“These companies are not near-term motivated sellers ...