Dealmaking activity in the US exploration and production sector took a hit as oil prices plummeted, with only $770 million worth of deals struck in the first quarter of 2020, or about 10% of the average quarterly activity in the past decade, according to Enverus. "As painful as the downturn is, this may finally push the industry into healthy consolidation that leaves us with larger, more efficient, and better capitalized operators when the recovery starts," said Enverus analyst Andrew Dittmar.
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