HOUSTON, July 25 (Reuters) - U.S. oil and gas deals rebounded in the second quarter as private equity firms shed shale portfolio investments and publicly traded oil firms grabbed smaller rivals.
The surge was due in part to energy focused private equity firms EnCap Investments and NGP Energy Capital selling off a combined six portfolio companies.
In total, $14 billion in private equity-owned assets have changed hands this year, Enverus said.
Private equity firms have moved away from oil deals, with only 10 new exploration and production firm investments this year compared to 100 per year last decade, Enverus said.
Most M&A was in the top U.S. shale field as companies looked to add oil acreage, Enverus' Dittmar said.
Persons:
Enverus, Andrew Dittmar, Jon Platt, Baker Botts, Dittmar, Gary McWilliams, Nick Zieminski
Organizations:
EnCap Investments, NGP Energy Capital, Civitas Resources, PDC Energy, Thomson
Locations:
U.S, Dittmar . U.S