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Reuters

Reuters

US oil, gas M&A activity jumped 57% last year amid industry consolidation

Reuters
Summary
Nutrition label

81% Informative

Energy companies spent $49.2 billion on mergers and acquisitions in 2023 , up from $31.4 billion in 2022 , Ernst & Young report says.

Increase was mainly driven by mega deals among integrated oil and gas companies.

Companies' overall expenditures to $142.3 billion , 36% higher than in 2022 .

M&A activity is expected to continue this year and into 2025 , according to the report.

VR Score

91

Informative language

97

Neutral language

80

Article tone

formal

Language

English

Language complexity

50

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

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