Oil and gas mergers and acquisitions remained popular in the United States in the second quarter, topping $30 billion with a few big dollar tie-ups pushing values higher, Reuters reports.
Blockbuster deal mergers are still playing out despite some calls from U.S. lawmakers for regulators to “pump the breaks” on merger approvals.
The latest round of deals were kicked off last fall with Exxon Mobil’s $60 billion offer to acquire Pioneer Natural and has reportedly spread through the U.S. energy industry, moving across Texas and North Dakota oil and gas producers to energy pipeline operators.
There were 18 oil and gas production tie-ups with disclosed prices totaling $30.29 billion, up from 25 deals valued at $24.4 billion in the same quarter a year ago, according to data released Tuesday.
While none of the recent oil mergers have been blocked, the Federal Trade Commission is reviewing the ConocoPhillips, Chevron, Occidental Petroleum, Chesapeake Energy and Diamondback Energy deals.
