Oil, Gas Brightened 2010 M&A Picture

Oil and gas proved a bright spot in the 2010 merger and acquisition landscape, according to Ernst & Young. Total industry transaction value topped $266 billion, up 33% from 2009. Total deal activity was up 13% from 2009, with deals reported having values that were up 2%. Midstream deals were up 71% to $25 billion. The total number of transactions in the segment was 57, up 4% from 2009.