Oil & gas industry M&A deals in Q3 2020 total $993.89m in Canada

5 November 2020 (Last Updated November 5th, 2020 20:01)

Oil & gas industry M&A deals in Q3 2020 total $993.89m in Canada

Total oil & gas industry M&A deals in Q3 2020 worth $993.89m were announced in Canada, according to GlobalData’s deals database.

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The value marked an increase of 199.9% over the previous quarter and a drop of 42.9% when compared with the last four-quarter average of $1.74bn.

Canada held a 0.8% share of the global oil & gas industry M&A deal value that totalled $117.93bn in Q3 2020.

In terms of deal activity, Canada recorded 22 deals during Q3 2020, marking a drop of 12% over the previous quarter and a drop of 37.1% over the last four-quarter average.

Canada oil & gas industry M&A deals in Q3 2020: Top deals

The top five oil & gas industry M&A deals accounted for 95.5% of the overall value during Q3 2020.

The combined value of the top five oil & gas M&A deals stood at $949.09m, against the overall value of $993.89m recorded for the month.

The top five oil & gas industry deals of Q3 2020 tracked by GlobalData were:

1) ConocoPhillips’ $420m asset transaction with Kelt Exploration

2) The $344.36m acquisition of Painted Pony Energy by Canadian Natural Resources

3) Whitecap Resources’ $118.33m acquisition of Nal Resources

4) The $33.4m acquisition of Trinidad Drilling International by Ensign Energy Services

5) Harvard Resources’ asset transaction with i3 Energy for $33m.

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.