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  1. Deals Analysis
March 17, 2021updated 25 Mar 2021 2:13am

Oil & Gas industry M&A deals total $3.02bn in Europe in February 2021

By Carmen

Total oil & gas industry M&A deals worth $3.02bn were announced in Europe in February 2021, led by NEO Energy’s $1.3bn asset transaction with Exxon Mobil, according to GlobalData’s deals database.

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The value marked an increase of 68.7% over the previous month of $1.79bn and a rise of 2.4% when compared with the last 12-month average of $2.95bn.

Europe held a 12.18% share of the global oil & gas industry M&A deal value that totalled $24.79bn in February 2021. With an 11.05% share and deals worth $2.74bn, the UK was the top country in Europe’s M&A deal value across oil & gas industry.

In terms of M&A deal activity, Europe recorded 26 deals during February 2021, marking a decrease of 7.14% over the previous month and a drop of 25.71% over the 12-month average. The UK recorded 13 deals during the month.

Europe oil & gas industry M&A deals in February 2021: Top deals

The top five oil & gas industry M&A deals accounted for 96.03% of the overall value during February 2021.

The combined value of the top five oil & gas deals stood at $2.9bn, against the overall value of $3.02bn recorded for the month.

The top five oil & gas industry M&A deals of February 2021 tracked by GlobalData were:

1) NEO Energy’s $1.3bn asset transaction with Exxon Mobil

2) The $1.02bn asset transaction with ASDA Group by EG Group

3) EnQuest’s $375m acquisition of North Sea (Golden Eagle) Resources

4) The $187.85m asset transaction with TietoEVRY by Aucerna

5) PetroNor E&P’s asset transaction with Hemla Africa Holding for $18m.

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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.

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