Temperature Check: Energy

As we close out 2023, M&A activity in the energy industry continues to gain momentum. Across the power and renewables sectors, a focus on energy transition policies, as well as energy supply and security, continues to drive deals. M&A activity in the oil and gas industry remains busy, with several notable deals in recent months, indicating a continued consolidation in the industry focused on achieving lower costs and creating free cash flow. ESG efforts remain top of mind to investors and stakeholders across the board, and we anticipate these efforts will continue to drive deals across the energy industry as a whole. Despite the challenges created by inflation, cost of capital, and continued supply issues, M&A activity in the energy industry is steadily increasing as we look forward to 2024.

Activity level: Warming up