"The M&A space is very busy," Peter said.
The article continues, saying that the collapse in oil prices slowed down deals for the balance of 2020 as a result of the pandemic. But the sector has seen a resurgence since beginning in 2021 and for the 18 months since.
"Several underlying trends drive the activity," Peter said.
LNG growth is one. There are a lot of non-core asset divestitures, as companies focus on their core assets and use the divestment as an opportunity to return funds to shareholders.
Peter also told Lexpert that he is seeing a lot of private equity sales.
"There's a lot of private equity money that went into [upstream oil and gas], and when the oil prices collapsed, they were stuck with these assets that were difficult to sell. But now that the price has gone up, there's a lot of private equity seeking to exit those investments. That's driving activity," he noted.
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