Total US oil & gas industry M&A deals in Q4 2018 worth $56.1bn were announced, according to GlobalData’s deals database.

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The value marked a decrease of 52.7% over the previous quarter and a drop of 12.7% when compared with the last four-quarter average of $64.49bn.

The United States held a 63.4% 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 States recorded 167 deals during Q4 2018, marking a drop of 23.7% over the previous quarter and a drop of 30.1% over the last four-quarter average.

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US oil & gas industry M&A deals in Q4 2018: Top deals

The top five oil & gas industry M&A deals accounted for 52.6% of the overall value during Q4 2018.

The combined value of the top five oil & gas industry M&A deals stood at $29.49bn, against the overall value of $56.1bn recorded for the quarter. The top announced oil & gas industry M&A deal tracked by GlobalData in Q4 2018 was EnLink Midstream’s $8.62bn acquisition of EnLink Midstream Partners.

In second place was the $7.7bn acquisition of Newfield Exploration by EnCana and in third place was Dominion Energy’s $4.56bn acquisition of Dominion Energy Midstream Partners.

The $4.34bn merger of Ensco and Rowan Companies and Aqua America’s acquisition of Delta Natural Gas, Peoples Gas Co and Peoples Natural Gas for $4.28bn 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.