U.S. Oil M&A Spree Set to Surpass Last Year’s Size

The merger and acquisition frenzy in the U.S. oil patch is still gathering momentum and could result in even more deals than last year. The industry is yet again undergoing a complete makeover. Last year, U.S. oil and gas companies announced several massive deals—regularly called megadeals in the media—including Exxon’s $60-billion takeover of Pioneer Natural Resources and Chevron’s $53-billion merger with Hess, currently being held up by Exxon. Indeed, the final quarter of last year saw the highest-ever M&A deal value…