U.S. Shale Drives Global Upstream M&A Value To Highest since 2017

The value of global upstream mergers and acquisitions has already hit this quarter the highest first-quarter level since 2017, driven by frenzied consolidation in the U.S. shale patch, analysts have told Reuters. In January and February, as much as $58 billion worth of upstream M&As have been announced globally, of which the U.S. deals represent more than 80% of total value, according to data from Rystad Energy cited by Reuters. The January-February tally of global upstream deal value, with one month to go until the end of the quarter,…