Texas’ energy industry, now in high gear with the development of the Eagle Ford Shale and Permian Basin, accounted for seven of the state’s 10 largest mergers and acquisitions in the first half of this year, according to data from research firm Mergermarket.
Indeed, of the 27 Texas deals valued at more than $1 billion during that period, nearly half — a dozen, to be exact — involved energy companies, says Chad Watt, natural resources editor for Mergermarket. This spring, a tidal wave of acquisition deals swept through South Texas’ Eagle Ford oil-and-gas play as some big players looked to cash out and others worked to expand their holdings.
“The shale boom has happened in Texas, and what we’re seeing now is companies focusing on deals that drive efficiency,” Watt says.
Look for a cover story in Friday’s Business Journal taking a deeper look at how oil-and-gas activity is driving a rush of M&A activity in San Antonio and the rest of the state.