After a stellar 2023, the US merger and acquisition (M&A) market focused on the prolific Permian shale play will calm down this year, according to Enverus Intelligence Research, due to slimmer pickings and higher prices, with gas-rich companies and Canadian corporations expected to be increasingly targeted.

In the US, privately owned Endeavor Energy Resources is at the top of the list of outstanding Permian-focused targets yet to be acquired, said Enverus.