Plenty of scope for shale acreage to change hands
Focused shale deals buck M&A slowdown
Fewer North American corporate transactions may be done this year. But rationalisation of shale portfolios on an asset-specific basis should continue
The M&A wave that has been playing out across the North American shale industry since the second half of 2020 could run out of steam this year. However, there still appears to be plenty of scope for parcels of shale acreage to change hands as producers continue to refine their portfolios and build scale. Since the start of the year, a major shale asset sale has been announced in Wyoming’s Powder River Basin, while elsewhere across North America, other acreage is on the block. In late January, US independent Chesapeake Energy announced it had struck a deal to sell its Powder River Basin assets to peer Continental Resources for $450mn. The sale is expected to help fund Chesapeake’s $2.6bn
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
