HOUSTON, Nov. 9, 2010 /PRNewswire/ -- Despite ongoing...

HOUSTON, Nov. 9, 2010 /PRNewswire/ -- Despite ongoing uncertainties about future business in the Gulf and cautious and uneven equity markets, merger and acquisition (M&A) activity in the U.S. Oil & Gas sector overcame challenges to surpass 2009 levels in the third quarter of 2010. According to PwC US, the increase in oil and gas deal activity is attributed to companies' ongoing effort to reorder their portfolios, continuing interest by non-U.S. oil companies in shale plays, and the expansion of product lines and markets served by equipment and service companies.

PwC US M&A Outlook: U.S. Oil & Gas Deal Value Increases Nearly 20% in Third Quarter of 2010, Overcoming Challenges of Choppy Markets and Uncertainty Surrounding the Gulf

Smaller Upstream Sector Deals Dominate Deal Volume and Value; Strong Backlog of Deals Fuel Pent-Up Demand

"Shales with higher liquid content like the Eagle Ford have been particularly attractive acquisition targets as companies look to take advantage of what many perceive to be a sustained period of low gas prices," Collier stated.

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