In the global oil & gas industry, there were 290 M&A deals announced in Q4 2023, worth a total value of $192.9bn, according to GlobalData’s Deals Database. The $64.5bn acquisition of Pioneer Natural Resources by Exxon Mobil was the industry’s largest disclosed deal. GlobalData’s Oil and Gas Industry Mergers and Acquisitions Deals report for 2023 uncovers key trends behind the oil & gas market M&A deals and helps gain a comprehensive understanding of the disruptive themes driving most notable to deals. Buy the report here.
In value terms, M&A activity increased by 156% in Q4 2023 compared with the previous quarter’s total of $75.3bn and rose by 258% as compared to Q4 2022. Related deal volume decreased by 13% in Q4 2023 versus the previous quarter and was 42% lower than in Q4 2022.
Notably, foreign direct investments (fdi)-related deals accounted for a 33% share of the global oil & gas industry’s M&A activity in Q4 2023, up 23% over the previous quarter.
The top-ranked financial advisors supporting these M&A deals in Q4 2023 were Royal Bank of Canada; JPMorgan Chase & Co; Evercore with 33, 21, 20 deals respectively.
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The top-ranked legal advisors supporting these M&A deals in Q4 2023 were Kirkland & Ellis; Vinson & Elkins; Gibson, Dunn & Crutcher with 53, 41, 24 deals respectively.
For further understanding of GlobalData's Oil and Gas Industry Mergers and Acquisitions Deals by Top Themes in 2023 – Thematic Intelligence, buy the report here.
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