Oil & gas industry M&A deals in Q2 2020 total $23.95bn globally

28 July 2020 (Last Updated July 28th, 2020 14:00)

Oil & gas industry M&A deals in Q2 2020 total $23.95bn globally

Total oil & gas industry M&A deals in Q2 2020 worth $23.95bn were announced globally, according to GlobalData’s deals database.

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The value marked an increase of 114.2% over the previous quarter and a drop of 68.8% when compared with the last four-quarter average, which stood at $76.8bn.

Comparing deals value in different regions of the globe, Middle East and Africa held the top position, with total announced deals in the period worth $11.29bn. At the country level, the United Arab Emirates topped the list in terms of deal value at $10.12bn.

In terms of volumes, North America emerged as the top region for oil & gas industry M&A deals globally, followed by Asia-Pacific and then Europe.

The top country in terms of M&A deals activity in Q2 2020 was the US with 83 deals, followed by China with 33 and Canada with 21.

In 2020, as of the end of Q2 2020, oil & gas M&A deals worth $50.83bn were announced globally, marking a decrease of 79% year on year.

Oil & gas industry M&A deals in Q2 2020: Top deals

The top five oil & gas industry M&A deals accounted for 69.4% of the overall value during Q2 2020.

The combined value of the top five oil & gas M&A deals stood at $16.62bn, against the overall value of $23.95bn 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) Total’s $575m asset transaction with Tullow Uganda and Tullow Uganda Operations

4) The $541m asset transaction with Royal Dutch Shell by National Fuel Gas

5) TPG Sixth Street Partners’ acquisition of Antero Resources for $402m.

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.