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  1. Deals Analysis
January 27, 2021

Oil & gas industry M&A deals in Q4 2020 total $10.01bn in Canada

By Baghmar P

Total oil & gas industry M&A deals in Q4 2020 worth $10.01bn were announced in Canada, according to GlobalData’s deals database.

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The value marked an increase of 468.3% over the previous quarter and a rise of 504.2% when compared with the last four-quarter average of $1.66bn.

Canada held a 13.7% share of the global oil & gas industry M&A deal value that totalled $73.03bn in Q4 2020.

In terms of deal activity, Canada recorded 27 deals during Q4 2020, marking a rise of 3.9% over the previous quarter and a drop of 22.9% over the last four-quarter average.

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Canada oil & gas industry M&A deals in Q4 2020: Top deals

The top five oil & gas industry M&A deals accounted for 95.9% of the overall value during Q4 2020.

The combined value of the top five oil & gas M&A deals stood at $9.6bn, against the overall value of $10.01bn recorded for the month.

The top five oil & gas industry deals of Q4 2020 tracked by GlobalData were:

1) The $7.77bn merger of Cenovus Energy and Husky Energy

2) The $703.13m acquisition of Torc Oil and Gas by Whitecap Resources

3) AltaGas Idemitsu Joint Venture’s $541.73m acquisition of Petrogas Energy

4) The $478.23m acquisition of Jupiter Resources by Tourmaline Oil

5) Tourmaline Oil’s acquisition of Modern Resources for $108.06m.

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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