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  1. Deals Analysis
November 28, 2019

Oil & gas industry M&A deals in Q3 2019 total $1.1bn in UK

Total oil & gas industry M&A deals in Q3 2019 worth $1.1bn were announced in the UK, according to GlobalData’s deals database.

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The value marked a decrease of 77.2% over the previous quarter and a drop of 68.2% when compared with the last four-quarter average of $3.46bn.

The UK held a 1.5% share of the global oil & gas industry M&A deal value that totalled $71.37bn in Q3 2019.

In terms of deal activity, the UK recorded 27 deals during Q3 2019, marking a drop of 3.6% over the previous quarter and a drop of 22.9% over the last four-quarter average.

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The UK oil & gas industry M&A deals in Q3 2019: Top deals

The top five oil & gas industry M&A deals accounted for 94.6% of the overall value during Q3 2019.

The combined value of the top five oil & gas M&A deals stood at $1.04bn, against the overall value of $1.1bn recorded for the month.

The top five oil & gas industry deals of Q3 2019 tracked by GlobalData were:

1) HitecVision and Petrogas E&P’s $635m asset transaction with Total

2) The $205.78m asset transaction with Independent Oil and Gas by CalEnergy Resources

3) Quaker Chemical’s $98m asset transaction with Norman Hay

4) The $83.09m acquisition of United Strength Power International by Eternal Global Investments

5) Tufton Oceanic Assets’ asset transaction with for $19.9m.

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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