The projected value of M&A transactions in the U.S. upstream sector is expected to rise for the third consecutive year, according to a study from the energy investment banking group at Raymond James.

Christopher Simon, managing director and head of asset A&D at Raymond James, said the total value of upstream E&P merger and acquisition activity so far this year has reached $41.7 billion, and that number is expected to exceed $60 billion. Speaking at Hart Energy’s A&D Strategies Workshop in Dallas earlier this month, Simon said corporate deals, so ...