Oil & gas industry M&A deals in Q3 2019 total $31.71bn in US

28 November 2019 (Last Updated November 28th, 2019 12:37)

Oil & gas industry M&A deals in Q3 2019 total $31.71bn in US

Total oil & gas industry M&A deals in Q3 2019 worth $31.71bn were announced in the US, according to GlobalData’s deals database.

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The value marked a decrease of 64.7% over the previous quarter and a drop of 56.2% when compared with the last four-quarter average of $72.48bn.

The US held a 44.4% share of the global oil & gas industry M&A deal value that totalled $71.37bn in Q3 2019.

In terms of deal activity, the US recorded 133 deals during Q3 2019, marking a drop of 22.2% over the previous quarter and a drop of 37.3% over the last four-quarter average.

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

The top five oil & gas industry M&A deals accounted for 61.2% of the overall value during Q3 2019.

The combined value of the top five oil & gas M&A deals stood at $19.39bn, against the overall value of $31.71bn recorded for the month.

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

1) Hilcorp Alaska’s $5.6bn asset transaction with BP

2) The $5.1bn acquisition of SemGroup by Energy Transfer

3) Callon Petroleum’s $4.92bn acquisition of Carrizo Oil & Gas

4) The $2.08bn asset transaction with Huntsman by Indorama Ventures

5) ‘s merger of PDC Energy and SRC Energy for $1.7bn.

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.