Dittmar | Jotup

2024 races to a record start with $51B in upstream M&A

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星期二, 四月 23, 2024

Permian, Sale, Interview, Q2, Dittmar, Diamondback Energy, AB, Software as a service, Eagle Ford, Dallas, SCOOP, Name, EIR

CALGARY, AB, April 23, 2024 /PRNewswire/ -- Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted generative AI and energy-dedicated SaaS company, is releasing its summary of 1Q24 upstream M&A activity. Following last year's blockbuster $192 billion in U.S. upstream consolidation, 1Q24 would be on track to surpass that record with $51 billion in announced deals. However, EIR is pumping the brakes on another record-setting year as deal activity has slowed significantly in March and Q2 appears to have already lost momentum.

Key Points:

Following last year's blockbuster $192 billion in U.S. upstream consolidation, 1Q24 would be on track to surpass that record with $51 billion in announced deals.
However, EIR is pumping the brakes on another record-setting year as deal activity has slowed significantly in March and Q2 appears to have already lost momentum.
Headlining consolidation in Q1 was privately held Endeavor Energy Resources' sale to publicly held Diamondback Energy.
Members of the media should use our new Request Media Interview option on the Enverus Newsroom page to schedule an interview with one of our expert analysts.

$144B of transactions in recording-setting 4Q23 for upstream M&A

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星期二, 一月 23, 2024

Permian, ExxonMobil, Software as a service, AB, Longevity, EIR, Acquisition, Dittmar

CALGARY, AB, Jan. 23, 2024 /PRNewswire/ -- Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company, is releasing its summary of Q4 and full-year 2023 upstream merger and acquisition (M&A) activity. Q4 recorded a massive $144 billion in upstream M&A, the largest quarter EIR has tracked. That pushed full-year 2023 value to more than $190 billion, also setting a record.

Key Points:

CALGARY, AB, Jan. 23, 2024 /PRNewswire/ -- Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company, is releasing its summary of Q4 and full-year 2023 upstream merger and acquisition (M&A) activity.
Q4 recorded a massive $144 billion in upstream M&A, the largest quarter EIR has tracked.
"The Permian was a juggernaut for deals in 2023, both for private sales and corporate M&A," said Dittmar.
In 2023, upstream M&A was overwhelmingly focused on oil, with $186 billion in deals targeting crude compared to just $6 billion in gas-centric acquisitions.

$14B in 3Q23 upstream M&A overshadowed by October's $60B+ historic deals

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星期二, 十月 24, 2023

Permian, Hess, Pioneer Natural Resources, Carbon, EIR, AB, Acquisition, ExxonMobil, Dittmar, Software as a service, Petroleum, Pioneer

CALGARY, AB, Oct. 24, 2023 /PRNewswire/ -- Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS platform, is releasing its summary of 3Q23 upstream merger and acquisition (M&A) activity.

Key Points:

In Q3, U.S. upstream M&A cruised along with $14 billion transacted in 25 deals.
That accelerated to historic levels in October with ExxonMobil's $65 billion acquisition of Pioneer Natural Resources in the third-largest upstream deal ever by enterprise value, and Chevron purchasing Hess for $60 billion.
"This is coming from a combination of reducing upstream emissions and building its carbon sequestration business."
Already, reports have emerged of merger talks between large-cap independents that are also likely to go on shopping spree targeting smaller and midsize producers.

Upstream M&A slides to $9B in 1Q23

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星期二, 五月 2, 2023

Permian, EnCap, Dittmar, AB, Software as a service, Acquisition, Eagle Ford Group, Delaware Basin, Eagle Ford, Dallas, EIR, Retail

CALGARY, AB, May 2, 2023 /PRNewswire/ -- Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS platform, is releasing its summary of 1Q23 upstream merger and acquisition (M&A) activity. In Q1, U.S. upstream M&A saw $8.6 billion transacted in 16 deals, with more than $5 billion in the Eagle Ford for a surprising resurgence in that mature play. While deal value is down about 20% versus the first quarter average since 2016, deal volume also continued its multi-year collapse with a disclosed volume of 80% less than the Q1 average. That resulted in an average deal size of more than $500 million.

Key Points:

CALGARY, AB, May 2, 2023 /PRNewswire/ -- Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS platform, is releasing its summary of 1Q23 upstream merger and acquisition (M&A) activity.
In Q1, U.S. upstream M&A saw $8.6 billion transacted in 16 deals, with more than $5 billion in the Eagle Ford for a surprising resurgence in that mature play.
"Last quarter was an outlier in terms of the deal targets and types for upstream transactions," said Andrew Dittmar, director at Enverus.
"M&A may have slowed, and shale may be in its later innings, but there are still opportunities to be had," concluded Dittmar.

Upstream M&A falls 13% Year-Over-Year in 2022 to $58B

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星期二, 一月 24, 2023

Marathon Oil, Dittmar, Diamondback Energy, Devon Energy, Acquisition, Software as a service, EIR, AB, Diamondback, Cryptocurrency

CALGARY, AB, Jan. 24, 2023 /PRNewswire/ -- Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS platform, is releasing its summary of 4Q22 upstream merger and acquisition (M&A) activity. For 2022, U.S. upstream M&A saw $58 billion transacted in 160 deals, including $13 billion from 26 deals in the fourth quarter. While deal values are down just about 20% from pre-pandemic averages, the volume of deals has collapsed to a nearly two-decade low as activity has been driven by large companies targeting the highest quality assets in billion-dollar-plus deals.

Key Points:

For 2022, U.S. upstream M&A saw $58 billion transacted in 160 deals, including $13 billion from 26 deals in the fourth quarter.
"Large-cap public companies like Devon Energy, Diamondback Energy, and Marathon Oil dominated deal activity in the back half of 2022," said Andrew Dittmar, director at Enverus Intelligence Research.
"These buyers have the balance sheet strength and favorable stock valuations to take advantage of large, high-quality offerings from private sellers."
Two of the largest deals in the fourth quarter of 2022 were Midland Basin acquisitions by Diamondback, historically one of the more active buyers in the region.

Upstream M&A Tops $16 Billion in 3Q22

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星期三, 十月 12, 2022

Permian, Electric Bond and Share Company v. Securities and Exchange Commission, Dittmar, OPEC, Software as a service, Intelligence, Multimedia, Technology, Diamondback Energy, Acquisition, Research, EIR, U.S. Securities and Exchange Commission, AB, View, Leadership, Petroleum, Online shopping

CALGARY, AB, Oct. 12, 2022 /PRNewswire/ -- Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS platform, is releasing its summary of 3Q22 upstream merger and acquisition (M&A) activity. Upstream deals in the U.S. reached more than $16 billion in transacted value during the quarter for the best showing of 2022. That was achieved despite volatility in oil and gas prices, E&P stocks still missing market recognition and a surprising dearth of deals in the usually prolific Permian.

Key Points:

Upstream deals in the U.S. reached more than $16 billion in transacted value during the quarter for the best showing of 2022.
"Companies are using the cash generated by high commodity prices to pay down debt and reward shareholders rather than seeking out acquisitions."
The usual workhorse of upstream M&A saw less than 10% of total deal value directed its way in transactions focused only on that basin.
Just a couple weeks into Q4, the Permian logjam has already been broken by Diamondback Energy's $1.6 billion purchase of Firebird Energy.

Wasabi Technologies Closes $250 Million in New Funding to Usher In the Future of Cloud Storage

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星期二, 九月 27, 2022

Wasabi Technologies , the hot cloud storage company , today announced it has achieved unicorn status following $250 million in new funding.

Key Points:

Wasabi Technologies , the hot cloud storage company , today announced it has achieved unicorn status following $250 million in new funding.
Closing a large up round in this environment speaks to the spectacular growth of Wasabi, the magnitude of the cloud storage opportunity, and our leadership as the industrys largest pure-play cloud storage vendor.
Wasabi provides a game-changing product that offers customers a simpler, faster, and significantly more economical solution to their cloud data storage needs.
Created by Carbonite co-founders and cloud storage pioneers David Friend and Jeff Flowers, Wasabi is a privately held company based in Boston.

Upstream M&A Falls to $12 Billion in a Volatile Market

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星期四, 七月 14, 2022

Permian, Sale, U.S. Securities and Exchange Commission, Software as a service, Multimedia, Risk management, Q2, IPO, View, Delaware Basin, EIR, PE, Electric Bond and Share Company v. Securities and Exchange Commission, Investment, Dittmar, Security (finance), Bank

Overall, Q2 was a challenging quarter for negotiating deals as volatility roiled both commodity and equity markets.

Key Points:

Overall, Q2 was a challenging quarter for negotiating deals as volatility roiled both commodity and equity markets.
Despite that, about $12 billion was transacted in upstream M&A as numerous private equity (PE) firms brought their investments to market looking to cash in on high oil and gas prices.
"High prices, though, also encouraged a rush by PE firms to test the waters for M&A.
While not everyone that is going into the market is getting what they deem to be a suitable offer, enough are to drive modestly active upstream M&A."

US Upstream M&A Opens Strong in 2022

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星期三, 四月 13, 2022

Permian, Interview, Multimedia, Oasis Petroleum, Acquisition, Risk, Software as a service, Dittmar, Petroleum, Whiting Petroleum Corporation, Risk management, Oil, Rocky Mountains

AUSTIN, Texas , April 13, 2022 /PRNewswire/ -- Enverus, the leading energy data analytics and SaaS technology company, is releasing its summary of 1Q22 M&A activity. As the M&A market marched into the new year, $14 billion in deals were announced during the first quarter of 2022. However, the last significant transaction occurred in early March before a spike in commodity prices temporarily halted activity.

Key Points:

AUSTIN, Texas, April 13, 2022 /PRNewswire/ -- Enverus, the leading energy data analytics and SaaS technology company, is releasing its summary of 1Q22 M&A activity.
As the M&A market marched into the new year, $14 billion in deals were announced during the first quarter of 2022.
However, the last significant transaction occurred in early March before a spike in commodity prices temporarily halted activity.
"All the factors that kept upstream deals resilient in 2021 carried over into the new year," said Andrew Dittmar, director at Enverus.

Upstream M&A Rises 25% YOY in 2021 to $66 Billion

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星期四, 一月 13, 2022

Dittmar, Multimedia, Sale, Risk management, Pressure, PE, E&P, Software as a service, COVID, Pharmaceutical industry

In the second year of a COVID-influenced market, M&A rose 25% year-over-year to reach $66 billion.

Key Points:

In the second year of a COVID-influenced market, M&A rose 25% year-over-year to reach $66 billion.
However, activity was uneven with a slow beginning and end to 2021, including $9 billion transacted in 4Q21.
That kept the yearly total below the $72 billion average from 2015-2019.
"Since the emergence of COVID, upstream M&A has been characterized by fewer, but larger, deals," said Andrew Dittmar, director at Enverus.