Total oil & gas industry M&A deals in Q4 2018 worth $3.38bn were announced in the United Kingdom, according to GlobalData’s deals database.

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The value marked a decrease of 25.1% over the previous quarter and a rise of 11% when compared with the last four-quarter average of $3.19bn.

The United Kingdom held a 3.8% share of the global oil & gas industry M&A deal value that totalled $88.47bn in Q4 2018.

In terms of deal activity, the United Kingdom recorded 51 deals during Q4 2018, marking a rise of 45.7% over the previous quarter and a rise of 64.5% over the last four-quarter average.

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The United Kingdom oil & gas industry M&A deals in Q4 2018: Top deals

The top five oil & gas industry M&A deals accounted for 34.8% of the overall value during Q4 2018.

The combined value of the top five oil & gas industry M&A deals stood at $1.18bn, against the overall value of $3.38bn recorded for the quarter. The top announced oil & gas industry M&A deal tracked by GlobalData in Q4 2018 was Ace Quantum Chemical Tankers CV’s $350m asset transaction with BW Group.

In second place was the $300m asset transaction with BP by EnQuest and in third place was Inter Terminals’ $270m asset transaction with NuStar Energy.

The $182m acquisition of Avenir LNG by Golar LNG, Hoegh LNG Holdings and Stolt-Nielsen and Aban Offshore’s acquisition of 100% interest in blocks 15/13a and 15/13b with for $75m held fourth and fifth positions, respectively.

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.

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.