Oil and gas 1Q deal value remains flat
The first-quarter activity remained flat compared with the same period last year, when there were 45 deals accounting for $34.6 billion in deal value, PwC said in a statement.
"Although deal activity has remained consistent year-over-year, we are beginning to see a softening of deal flow when compared to the past few quarters," Rick Roberge, principal in PwC's energy M&A practice, said in the statement.
On the other hand, the quarter also saw a "watershed moment" for private equity activity.
The volume of first-quarter private equity mergers and acquisitions reached 11 transactions valued at $11.5 billion, a 120-percent increase from the same period in 2011.
In the Rocky Mountain region, three oil and gas deals took place for a total deal value of $616 million during the first quarter, said Rowena Cipriano-Reyes, a Denver-based partner with PwC's energy practice.
"In line with the national trend, we're seeing the depressed price of natural gas also having an impact on deal activity locally," Cipriano-Reyes said in the statement.
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