Contracting activity has declined following a robust beginning to the year, as deal volume hit $45 billion—a peak not seen in two years, according to experts consulted by the FT.
A senior energy banker stated that initiated mergers and acquisitions (M&A) processes have been halted. "I currently have three or four asset divestitures in progress, and we have paused all of them." The source informed the publication that accepting bids is "pointless."
The situation deteriorated just before CERAWeek, Houston's largest industry conference, where significant agreements are usually finalized, the FT notes. Prior to the escalation, industry analysts anticipated additional consolidation of shale assets and increasing global demand for American gas.
source: ft.com
A senior energy banker stated that initiated mergers and acquisitions (M&A) processes have been halted. "I currently have three or four asset divestitures in progress, and we have paused all of them." The source informed the publication that accepting bids is "pointless."
The situation deteriorated just before CERAWeek, Houston's largest industry conference, where significant agreements are usually finalized, the FT notes. Prior to the escalation, industry analysts anticipated additional consolidation of shale assets and increasing global demand for American gas.
source: ft.com