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.

Smarter leaders trust GlobalData

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.

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.

This content was updated on 8 January 2024

Premium Insights

From

The gold standard of business intelligence.

Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.

GlobalData

GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Deals Database tracks global deal activity, including mergers, acquisitions, capital raising, strategic alliances, and licensing agreements. Proprietary analysis is used to group deals into key thematic areas and granular sectors across the world’s largest industries.

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Deal type includes Acquisition, Asset transactions and Mergers.