Upstream M&A Deals Slow in 2Q, Two of Top 3 Deals Located in M-U

According to Enverus Intelligence Research, the upstream M&A (mergers and acquisitions) sector "hit the brakes" during the second quarter, falling 21% quarter-over-quarter to $13.5 billion. There were two Marcellus/Utica deals in the top five. Actually, our two deals were in the top three. The announcement by EOG Resources cutting a deal to buy Encino Energy in the Ohio Utica for $5.6 billion was the #1 highest value M&A deal in upstream O&G during 2Q (see HUGE Utica News: EOG Resources Buys Encino Energy for $5.6 Billion). The #3 highest value deal was EQT's purchase of Olympus Energy for $1.8 billion (see EQT Buying Olympus Energy for $1.8 Billion; 90K Acres, 0.5 Bcf/d).

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