Why the energy sector's M&A frenzy may not be over

Mergers and acquisitions in the energy sector are in focus this week as Conocophillips agreeing to acquire Marathon Oil and has shareholders approve merging with Chevron.The deal making in the energy sector, it rose in 2023 hitting its highest level in over a decade according to the US Energy Information Administration.Let's bring in Yahoo finance reporter for here and tracking all of it.

It's because for the last decade, the industry has under invested amid political and regulatory uncertainty over the future of oil and gas and pressure to move towards renewables has also created a reluctance to invest.As one analyst put it buying up inventory in order to expand now in last couple of years, it's been pretty evident that fossil fuels are here to stay for longer than previously anticipated.

Now, industry executives surveyed in December by the Dallas Fed said overwhelmingly that they anticipate more mergers in the next two years.As one analyst told Yahoo finance, nobody wants to end up being too small to compete with the big guys.

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ConocoPhillips's $22.5 billion deal for Marathon Oil highlights energy M&A waveUS energy consolidation continues with the announcement that ConocoPhillips will buy Marathon Oil for $22.5 billion.
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ConocoPhillips buying Marathon Oil for $17.1 billion in all-stock deal as energy prices riseConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion as energy prices soar and big oil companies reap massive profits. The deal is valued at $22.5 billion when including $5.4 billion in debt.
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