North America Q1 2024 M&A Quarterly | Independents drive steady deal flow in US GoM

April 24, 2024

All three deals announced in Q1 2024 were located in the US Gulf of Mexico and involved packages of assets. In each case, the reserves and valuation were underpinned by the producing component of the acquired portfolio. Based on our NPV10 base case valuations, all three traded for US$19-20/boe, largely in line with other transactions involving producing assets since 2020.