Shale plays big in gas, oil industry deals
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In the past three months, seven of the top 10 biggest deals in the oil and gas industries have been related to shale plays, according to a report released today by the analysis arm of New York-based PricewaterhouseCoopers LLP.
Two of those transactions involved the Marcellus Shale natural gas formation that underlies much of Appalachia -- the two deals alone totaled $2.3 billion of the $7.5 billion spent on shale activity.
The analysis of oil and gas activity focused on deals worth more than $50 million and found recent overall activity took a less-for-more approach, with transactions occurring less frequently but for higher sums.
There were 51 deals in total that were worth more than $50 million, down from 61 in the same quarter last year.
But the average deal value increased 14 percent from 2010, with the average transaction hitting $765 million.
Foreign investors were involved in 18 deals totaling $36.2 billion in the second quarter.
The same quarter last year saw 27 deals totaling $24.2 billion that involved foreign investors.
First Published August 10, 2011 12:00 am
