Higher commodity prices have whetted investors’ appetite for more natural gas and oil deals, and the pace of activity should pick up for the rest of this year, PwC predicted in a recent midyear report.

upstream deal chart

“Private equity deals are on pace for another record year as traditional oil and gas investments become attractive once again,” said PwC’s principal for Energy, Resources and Utilities Deals Seenu Akunuri.

A separate tally by Enverus found that private equity drove about 80% of U.S. upstream deals, heavily weighted toward the Permian Basin, during 2Q2022.

[Want to visualize Henry Hub, Houston Ship Channel and Chicago Citygate prices? Check out NGI’s daily natural gas price snapshot now.]

Through mid-May, a total of 123 oil and gas deals valued at $107 billion had...