Merger and acquisition (M&A) activity in the U.S. oil and gas sector reached its highest level in more than six quarters during the second quarter 2010, according to PricewaterhouseCoopers LLP (PwC). With improved credit markets and buyer-seller expectations finally aligning, coupled with increased CEO confidence and stabilized commodity prices, the U.S. oil and gas sector saw a total of 142 announced deals in the second quarter — the highest volume for deals seen since the third quarter of 2008, when the total numbers of announced deals was 190, according to PwC. Total value for the second quarter amounted to $36.9 billion, compared with $13.7 billion in the second quarter of 2009, representing a 169% increase year over year.
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