04Q23 QUARTERLY M&A REPORT

2023 YEAREND RECAP

January 29, 2024. Order Media or Full Report

RECORD CONSOLIDATION

$143.9B in 4Q - Up from $14.1B in 3Q23

Only 15-Deals - Down from 19-Deals in 3Q23

2-Mega Deals Skew 4th Qtr Deal Values

$191.7B in 2023, Up from $58.2B in 2022

71-Deals In 2023-Down from 116 in 2022

MIDLAND BASIN-WHITE HOT- $78.6B in 4Q

LOW DEAL COUNT.

P/E: $32B in Exits vs. $3.5B in Buys in 2023

P/E Funds Reloading. Targeting ~$17 Billion.

2024 & 2025 Should Prompt Market Activity.

MARKET HOPES FOR TRICKLE DOWN M&A

Natural Gas & P/E Consolidation Drive Deals

CONTACT EAG FOR FULL 32-PAGE REPORT

STUDY 1002MA