Total oil & gas industry deals for Q3 2019 worth $75.04bn were announced globally, according to GlobalData’s deals database.

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The value marked a decrease of 56.2% over the previous quarter and a drop of 46.8% when compared with the last four-quarter average of $141.34bn.

In terms of number of deals, the sector saw a drop of 22.2% over the last four-quarter average with 466 deals against the average of 599 deals.

In value terms, North America led the activity with deals worth $36.6bn.

Oil & gas industry deals in Q3 2019: Top deals

The top five oil & gas deals accounted for 46.8% of the overall value during Q3 2019.

The combined value of the top five oil & gas deals stood at $35.12bn, against the overall value of $75.04bn recorded for the month.

The top five oil & gas industry deals of Q3 2019 tracked by GlobalData were:

1) Saudi Arabian Oil’s $15bn asset transaction with Reliance Industries

2) The $5.6bn asset transaction with BP by Hilcorp Alaska

3) Energy Transfer’s $5.1bn acquisition of SemGroup

4) The $4.92bn acquisition of Carrizo Oil & Gas by Callon Petroleum

5) Var Energi’s asset transaction with Exxon Mobil for $4.5bn.

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.