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  1. Deals Analysis
July 17, 2019

Oil & gas industry M&A deals in Q2 2019 total $4.42bn in Canada

Total oil & gas industry M&A deals in Q2 2019 worth $4.42bn were announced in Canada, according to GlobalData’s deals database.

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The value marked an increase of 2047.4% over the previous quarter and a drop of 39.4% when compared with the last four-quarter average of $7.29bn.

Canada held a 3.3% share of the global oil & gas industry M&A deal value that totalled $135.96bn in Q2 2019.

In terms of deal activity, Canada recorded 37 deals during Q2 2019, marking a drop of 9.8% over the previous quarter and a drop of 36.2% over the last four-quarter average.

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Canada oil & gas industry M&A deals in Q2 2019: Top deals

The top five oil & gas industry M&A deals accounted for 95.7% of the overall value during Q2 2019.

The combined value of the top five oil & gas industry M&A deals stood at $4.23bn, against the overall value of $4.42bn recorded for the quarter. The top announced oil & gas industry M&A deal tracked by GlobalData in Q2 2019 was Canadian Natural Resources’ $2.8bn acquisition of Devon Canada.

In second place was the $855.45m asset transaction with TC Energy by Alberta Investment Management and in third place was CSV Midstream Solutions’ $358.27m asset transaction with Paramount Resources.

The $144.17m asset transaction with Shell Canada Energy by Pieridae Energy and Highwood Oil’s asset transaction with for $69.69m held fourth and fifth positions, respectively.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.


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