The Globe and Mail reports in its Wednesday edition that the consolidation in the U.S. shale industry has driven up global M&A deal value in the oil and gas exploration sector to its highest first quarter level in seven years. A Reuters dispatch to The Globe reports that deals worth more than $55-billion (U.S.) have been announced in the first two months of 2024, according Enverus, as publicly traded companies take advantage of their high share price to buy smaller firms. Some of the major deals include Diamondback's $26-billion (U.S.) offer to acquire Endeavor Energy Partners earlier this month and APA agreeing to buy Callon Petroleum for $4.5-billion (U.S.) in January. The total value of deals in January and February has already hit the highest level since the first quarter of 2017 when $68-billion (U.S.) worth of deals were announced, and is also more than double that announced in the first quarter of 2023. Deals involving U.S. shale firms represented more than 80 per cent of the total value, Enverus said. Rystad Energy's Palash Ravi says, "With another estimated $55-billion worth of assets up for sale in the U.S. shale, we expect this shale domination in overall M&A activity to continue."