U.S. Oil and Gas Merger Mania Extends to the Midstream

While the upstream mega deals in the U.S. shale patch have been drawing the most market attention, pipeline operators are also embarking on a merger spree in a quest to add scale, optimize assets, and gain more exposure to export markets. The next big midstream deal could be one involving a major U.S. oil and gas producer that has recently announced a large upstream acquisition to add acreage and scale in the top-producing shale basin, the Permian. Occidental Petroleum, which has recently announced a $12-billion deal to buy CrownRock, is now considering…