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  1. Deals Analysis
June 3, 2021

Oil & Gas industry M&A deals total $8.95bn in Europe in Q1 2021

By Carmen

Total oil & gas industry M&A deals worth $8.95bn were announced in Europe in Q1 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 a decrease of 44.2% over the previous quarter and a rise of 2.2% when compared with the last four-quarter average of $8.76bn.

Europe held a 14.68% share of the global oil & gas industry M&A deal value that totalled $60.97bn in Q1 2021. With a 7.36% share and deals worth $4.49bn, the UK was the top country in Europe’s M&A deal value across oil & gas industry.

In terms of deal activity, Europe recorded 105 deals during Q1 2021, marking a decrease of 21.05% over the previous quarter and a drop of 1.18% over the last four-quarter average. The UK recorded 38 deals during the quarter.

Europe oil & gas industry M&A deals in Q1 2021: Top deals

The top five oil & gas industry M&A deals accounted for 49.9% of the overall value during Q1 2021.

The combined value of the top five M&A deals stood at $4.46bn, against the overall value of $8.95bn recorded for the quarter.

The top five oil & gas industry deals of Q1 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) Versicherungskammer Bayern’s $844m acquisition of Ferngas Netzgesellschaft

4) The $673.25m acquisition of Surteco by PKG Schurfeld

5) Neo Energy Upstream’s acquisition of Zennor Petroleum for $625m.

Related Companies

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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