Total oil & gas industry deals for Q2 2020 worth $28.01bn were announced globally, according to GlobalData’s deals database.

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The value marked an increase of 106.2% over the previous quarter and a drop of 68.1% when compared with the last four-quarter average of $87.85bn.

In terms of number of deals, the sector saw a drop of 30.5% over the last four-quarter average with 405 deals against the average of 583 deals.

In value terms, Middle East and Africa led the activity with deals worth $11.29bn.

Oil & gas industry deals in Q2 2020: Top deals

The top five oil & gas deals accounted for 63.6% of the overall value during Q2 2020.

The combined value of the top five oil & gas deals stood at $17.83bn, against the overall value of $28.01bn recorded for the month.

The top five oil & gas industry deals of Q2 2020 tracked by GlobalData were:

1) Brookfield Asset Management, GIC, Global Infrastructure Management, NH Investment & Securities, Ontario Teachers’ Pension Plan and Snam‘s $10.1bn acquisition of ADNOC Gas Pipeline Assets

2) The $5bn asset transaction with BP by Ineos Group

3) Bluescape Energy Partners, Elliott Management and Fidelity Management & Research’s $1.4bn private equity deal with CenterPoint Energy

4) The $750m private equity deal with DoublePoint Energy by Apollo Global Management, Double Eagle Energy Holdings, FourPoint Energy, Magnetar Capital and Quantum Energy Partners

5) Total’s asset transaction with Tullow Uganda and Tullow Uganda Operations for $575m.

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.