Dealmaking in the U.S. oil and gas industry in the third quarter of 2021 fell from a two-year high in the previous quarter, according to data analytics firm Enverus on Tuesday, as the industry cools from post-pandemic consolidations and focuses on selling off non-core assets. Mergers and acquisitions (M&A) activity in the July-September quarter totaled $18.5 billion, down 44 percent from the second quarter, even as it beat the five-year quarterly average M&A value. “The sense of urgency seems to have left the deal market,” Enverus director Andrew Dittmar said. “Through the end of the year, we are likely to see mostly smaller-sized asset deals as companies trim their portfolios with the chance of an occasional larger public company merger or private E&P sale.” Oil producer Conocophillips led the quarterly ranks, the Enverus report showed, after it bought oil giant Royal Dutch Shell Plc’s assets in the Delaware Basin for …