Total oil & gas industry M&A deals in Q3 2019 worth $71.37bn were announced globally, according to GlobalData’s deals database.

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The value marked a decrease of 52.02% over the previous quarter and a drop of 42.8% when compared with the last four-quarter average, which stood at $125.13bn.

Comparing deals value in different regions of the globe, North America held the top position, with total announced deals in the period worth $33.66bn. At the country level, the US topped the list in terms of deal value at $31.71bn.

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

The top country in terms of M&A deals activity in Q3 2019 was the US with 133 deals, followed by the UK with 27 and China with 24.

In 2019, as of the end of Q3 2019, oil & gas M&A deals worth $319.18bn were announced globally, marking a decrease of 13.8% year on year.

Oil & gas industry M&A deals in Q3 2019: Top deals

The top five oil & gas industry M&A deals accounted for 49.2% of the overall value during Q3 2019.

The combined value of the top five oil & gas M&A deals stood at $35.12bn, against the overall value of $71.37bn 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.