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  1. Deals Analysis
November 23, 2020

Oil & gas industry deals in October 2020 total $41.58bn globally

By Baghmar P

Total oil & gas industry deals for October 2020 worth $41.58bn were announced globally, according to GlobalData’s deals database.

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The value marked an increase of 191.3% over the previous month and a rise of 85.05% when compared with the last 12-month average of $22.47bn.

In terms of number of deals, the sector saw a rise of 7% over the last 12-month average with 199 deals against the average of 186 deals.

In value terms, North America led the activity with deals worth $33.9bn.

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Oil & gas industry deals in October 2020: Top deals

The top five oil & gas deals accounted for 79.5% of the overall value during October 2020.

The combined value of the top five oil & gas deals stood at $33.06bn, against the overall value of $41.58bn recorded for the month.

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

1) ConocoPhillips’ $13.34bn acquisition of Concho Resources

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

3) Pioneer Natural Resources’ $7.6bn acquisition of Parsley Energy

4) The $2.25bn private equity deal with ANGUS Chemical by Ardian

5) Abu Dhabi Developmental Holding Company and Abu Dhabi Retirement Pensions and Benefits Fund’s acquisition of ADNOC Gas Pipelines HoldCo for $2.1bn.

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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