(Reuters)

The U.S. energy sector has entered a new phase of consolidation as the industry went on a $250-billion buying spree in 2023, and experts see more transactions on the horizon.

Dealmaking is on the rise as oil and gas producers are looking to improve longevity of inventories at low cost, and focus on cash that can be returned to shareholders.

The majority of energy executives polled in December by the Federal Reserve Bank of Dallas expected more oil deals worth $50 billion or higher to pop up in the next two years.

In 2023, some 39 private companies were acquired by public companies, Enverus data showed.

Below is a list of deals in the U.S. oil and gas sector so far this year: