Total oil & gas industry M&A deals in Q3 2020 worth $117.93bn were announced globally, according to GlobalData’s deals database.
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The value marked an increase of 184.8% over the previous quarter and a rise of 137.2% when compared with the last four-quarter average, which stood at $49.72bn.
Comparing deals value in different regions of the globe, Asia-Pacific held the top position, with total announced deals in the period worth $56.95bn. At the country level, the US topped the list in terms of deal value at $54.76bn.
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 Q3 2020 was the US with 124 deals, followed by Panama with 36 and China with 32.
In 2020, as of the end of Q3 2020, oil & gas M&A deals worth $168.58bn were announced globally, marking a decrease of 48.1% year on year.
Oil & gas industry M&A deals in Q3 2020: Top deals
The top five oil & gas industry M&A deals accounted for 79.9% of the overall value during Q3 2020.
The combined value of the top five oil & gas M&A deals stood at $94.25bn, against the overall value of $117.93bn recorded for the month.
The top five oil & gas industry deals of Q3 2020 tracked by GlobalData were:
1) China Oil & Gas Piping Network’s $38.42bn asset transaction with PetroChina
2) The $21bn acquisition of Speedway by 7-Eleven
3) Chevron’s $13bn acquisition of Noble Energy
4) The $12.13bn asset transaction with Wuthelam Holdings by Nippon Paint Holdings
5) Berkshire Hathaway Energy’s acquisition of Dominion Carolina Gas Transmission, Dominion Cove Point LNG, Dominion Energy Transmission, Iroquois Gas Transmission System and Dominion Energy Questar Pipeline for $9.7bn.
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.