HomeWorld RegionsNorth AmericaShale gas deals drive up US mergers by 135 per cent

Shale gas deals drive up US mergers by 135 per cent

Shale gas has been the driving force behind a 135 per cent increase in US oil and gas mergers.

In a report released today, consultants PwC said there were 46 deals with an individual value of more than $50m in the third quarter of this year, and the total value of these mergers and acquisitions was $48.8bn.

Of the 46 transactions, 13 related to shale gas and were worth a total of $22.6bn.

Steve Haffner, a partner in PwC’s energy practice, said: “Shale gas assets continue to attract vast interest from oil and gas companies, with five of the top 10 largest deals in the third quarter involving shale plays.”

The dash for shale gas was highlighted last week by US pipeline company Kinder Morgan’s bid for El Paso, which analysts dais was boss Richard Kinder’s gable on shale gas booming.

This week state-run GAIL India announced it was looking at buying more stakes in the US shale gas market following a $300m, five-year deal with Carrizo Oil & Gas.