First-quarter oil and gas mergers and acquisitions doubled the $2.2 billion in deal value during the same period a year earlier. PwC’s Rocky Mountain region comprises Colorado, Wyoming, Utah and North Dakota.
The Denver-Julesburg Basin, the prolific oil and gas region that includes territory in Northern Colorado, saw two deals worth $635 million in the first quarter.
“Robust Rocky Mountain deal momentum from 2013 carried through in the first quarter,´ said Rowena Cipriano-Reyes, a Denver-based partner with PwC’s energy practice.
However, the most active shale play for mergers and acquisitions with values greater than $50 million during the first quarter of 2014 was the Eagle Ford in Texas, which had five deals with a total value of $3 billion.
Nationwide, first-quarter deal value totaled $19.8 billion vs. $43 billion during the fourth quarter of 2013. A total of 43 deals greater than $50 million were made during the first quarter compared with 56 deals during the fourth quarter of last year.
Foreign buyers announced 12 deals worth $8.3 billion in the first quarter of 2014. The Gulf of Mexico saw five deals worth $3.9 billion.
PwC does not disclose the names of companies involved in the deals.