Big Energy isn’t dead. It was simply socially distancing itself from big M&A work for a couple of quarters. Seems it also has pandemic fatigue but is starting to work its way back out. 

Wachtell, Lipton, Rosen & Katz represented Houston-based global energy giant ConocoPhillips in its $9.7 billion acquisition of shale production company Concho Resources, which was represented by Sullivan & Cromwell, in the largest shale-focused deal since the energy market took a dive at the beginning of the pandemic.