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  1. Deals Analysis
November 23, 2020

Oil & gas industry M&A deals in October 2020 total $23.27bn in US

By Baghmar P

Total oil & gas industry M&A deals in October 2020 worth $23.27bn were announced in the US, according to GlobalData’s deals database.

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The value marked an increase of 243.6% over the previous month and a rise of 173.9% when compared with the last 12-month average of $8.5bn.

The US held a 61.5% share of the global oil & gas industry M&A deal value that totalled $37.81bn in October 2020.

In terms of deal activity, the US recorded 42 deals during October 2020, marking an increase of 16.7% over the previous month and a drop of 4.6% over the 12-month average.

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The US oil & gas industry M&A deals in October 2020: Top deals

The top five oil & gas industry M&A deals accounted for 97.1% of the overall value during October 2020.

The combined value of the top five oil & gas M&A deals stood at $22.58bn, against the overall value of $23.27bn recorded for the month.

The top five oil & gas industry deals of October 2020 tracked by GlobalData were:

1) ConocoPhillips’ $13.34bn acquisition of Concho Resources

2) The $7.6bn acquisition of Parsley Energy by Pioneer Natural Resources

3) EQT’s $735m asset transaction with Chevron USA

4) The $505m asset transaction with Hess by BHP

5) Caterpillar’s acquisition of Weir Oil & Gas for $405m.

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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