Total oil & gas industry deals in Q4 2018 worth $101.8bn were announced globally, according to GlobalData’s deals database.

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The value marked a decrease of 42% over the previous quarter and a drop of 18.4% when compared with the last four-quarter average of $124.83bn.

In terms of number of deals, the sector saw a drop of 11.93% over the last four-quarter average with 542 deals against the average of 605 deals.

In value terms, North America led the activity with deals worth $70.74bn.

The top five oil & gas deals accounted for 31.85% of the overall value in the sector globally during Q4 2018.

The combined value of the top five oil & gas deals stood at $32.42bn, against the overall value of $101.8bn recorded for the quarter.

Oil & gas industry deals in Q4 2018: Top deals

The top announced oil & gas deal tracked by GlobalData in Q4 2018 was EnLink Midstream’s $8.62bn acquisition of EnLink Midstream Partners.

In second place was EnCana’s acquisition of Newfield Exploration for $7.7bn and in third place was Antero Midstream GP’s $7.2bn acquisition of Antero Midstream Partners.

Dominion Energy’s $4.56bn acquisition of Dominion Energy Midstream Partners and the merger of Ensco and Rowan Companies for $4.34bn held fourth and fifth positions, respectively.

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.

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.

Verdict’s parent company GlobalData plc provides business information to 4,000 of the world’s largest companies.