Top 10 upstream oil and gas deals in Q3 2023: U.S. dominates

The largest upstream deals of Q3 2023 were almost exclusively in the United States, where four of the five Q3 deals valued at over $1 billion took place.

While a major asset sale in Oman, LNG investments in Australia and corporate mergers in Africa, Canada and Europe also cracked the top 10 this quarter, the U.S. continues its long-term domination of the upstream M&A space.

In fact, Evaluate Energy data shows that 70% of Q3’s global upstream M&A spending was focused on U.S. assets.

Evaluate Energy’s full review of Q3 activity is available now. It includes more on these regional trends, detailed analysis of ExxonMobil’s acquisition of Denbury, and shows how recent activity stacks up against the past five years of deal-making.