Enverus, an oil and gas SaaS and data analytics company, has released its 1Q summary of M&A activity, which revealed a substantial collapse as oil prices plunged to 18-year lows. Only US$770 million in US upstream deals were completed during the 1Q20 – less than one-tenth of the approximately US$8 billion average for 1Q from 2010 - 2019. Virtually all deal activity occurred before the global COVID-19 pandemic and production hike from Saudi Arabia slammed markets in early March.
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