Texas’ Eagle Ford Formation Leads U.S. in Oil-and-Gas Transactions in 2013

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In a year where overall upstream oil-and-gas transactions were down significantly from the previous year, the Eagle Ford shale formation in South Texas proved to be an active region for companies looking to make a deal. 2013’s $137.7 billion in total upstream merger activity represented a 49 percent decline from 2012’s total of $270.8 billion.

The Eagle Ford, however, was the hottest region in the country for upstream deals with at least $8.8 billion in transactions, including Devon Energy’s $6 billion purchase of GeoSouthern’s assets in the shale play, according to PLS Inc., a Houston-based oil-and-gas research firm. “2013 actually is a year in which upstream oil and gas M&A activity by and large reverted back to the mean of the last several years of activity, after adjusting for the megadeals,” PLS Managing Director Brian Lidsky said in a written statement. “Overall, the market remains healthy with ample deal flow and a host of motivated buyers.”

The Permian Basin in West Texas and the Rocky Mountains region were the second and third most active regions for oil-and-gas transactions in 2013, with $7.5 billion and $5.5 in deals respectively.

Media Coverage Resources:

Eagle Ford led energy deals in 2013, despite national decline”:

Oil-and-gas deals increased in the Eagle Ford last year but declined overall

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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