U.S. Upstream Oil Mergers Still Slow Despite Chevron, Devon Deals

Despite two big corporate transactions in the third quarter, the number of U.S. upstream oil and gas deals was tied with the first quarter for the slowest pace of mergers and acquisitions in 10 years, oil and gas data analytics company Enverus said in its quarterly M&A report on Monday. The third quarter of this year saw 28 upstream deals with disclosed value—the worst showing in a decade. However, two big corporate transactions, Chevron’s acquisition of Noble Energy and the Devon Energy-WPX Energy merger, pushed the total value…