Oxy's $55B Anadarko Megadeal Doesn't Mask Oil M&A Slump

Law360 (December 17, 2019, 4:26 PM EST) -- Occidental Petroleum's $55 billion acquisition of Anadarko Petroleum was a true blockbuster, but even that megamerger couldn't hide the fact that 2019 was a tough year to strike a deal in the oil and gas sector.

With investors largely reluctant to open their wallets for new spending related to oil and gas drilling amid volatile oil prices, the anticipated wave of upstream consolidation was more of a ripple. Meanwhile, sellers of drilling assets found few takers.

The midstream oil and gas sector fared better, fueled by a deal-making surge in drilling water services. And there was no shortage of cash for...

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