Midstream continued to roll and upstream continued to wobble in PwC's Oil & Gas M&A analysis of second-quarter transactions. Midstream accounted for 21 of the 47 oil and gas deals with values greater than $50 million, or 44%, with the value of those transactions adding up to $27.7 billion, or 71% of the $38.8 billion total. The 21 deals followed 22 in the first quarter, the first time the sector has surpassed 20 deals in two consecutive quarters since fourth-quarter 2012. There were 39 total deals worth 34.5 billion in the first quarter.
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