U. S. Upstream Mergers Hit $38B As M&A Rebounds The United States' shale patch has long been a hotbed of mergers and acquisitions, but the latest numbers are staggering.
In the first quarter of 2026, upstream mergers reached an impressive $38 billion, marking the highest quarterly total in two years.
This surge is being driven by a perfect storm of factors: higher oil prices, a more stable global market, and a renewed appetite for consolidation among energy companies.