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.
More breaking news...
Spring start for permanent road repairs means new jobs
"It's been an
Campaign seeks help to "digitize" small town theaters
Mall's council hearing pushed back
Nursing shortage? Not in Colorado…yet