Oil & gas industry M&A deals in Q3 2020 total $54.76bn in US

18 November 2020 (Last Updated November 18th, 2020 19:27)

Oil & gas industry M&A deals in Q3 2020 total $54.76bn in US

Total oil & gas industry M&A deals in Q3 2020 worth $54.76bn were announced in the US, according to GlobalData’s deals database.

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The value marked an increase of 674.5% over the previous quarter and a rise of 169.8% when compared with the last four-quarter average of $20.3bn.

The US held a 46.4% share of the global oil & gas industry M&A deal value that totalled $117.93bn in Q3 2020.

In terms of deal activity, the US recorded 124 deals during Q3 2020, marking a rise of 30.5% over the previous quarter and a drop of 16.2% over the last four-quarter average.

The US oil & gas industry M&A deals in Q3 2020: Top deals

The top five oil & gas industry M&A deals accounted for 92.01% of the overall value during Q3 2020.

The combined value of the top five oil & gas M&A deals stood at $50.38bn, against the overall value of $54.76bn recorded for the month.

The top five oil & gas industry deals of Q3 2020 tracked by GlobalData were:

1) 7-Eleven’s $21bn acquisition of Speedway

2) The $13bn acquisition of Noble Energy by Chevron

3) Berkshire Hathaway Energy’s $9.7bn acquisition of Dominion Carolina Gas Transmission, Dominion Cove Point LNG, Dominion Energy Transmission, Iroquois Gas Transmission System and Dominion Energy Questar Pipeline

4) The $5.35bn merger of Devon Energy and WPX Energy

5) Orion Mine Finance’s asset transaction with Occidental Petroleum for $1.33bn.

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.