U.S. Upstream Mergers Hit $38B As M&A Rebounds

Dealmaking in the U. S. shale patch jumped to a two-year high in the first quarter as M&A activity rebounded from a slump. U. S.

upstream mergers hit $38 billion in Q1 2026, marking the highest quarterly total in two years despite a sharp slowdown in March due to a spike in volatility tied to the Middle East conflict. According to Enverus Intelligence Research, the U. S.