Morgan Stanley was the leading financial adviser when it came to deals in the oil and gas industry in the second quarter of  2018, according to exclusive analysis by GlobalData for Offshore Technology.

The investment bank worked on seven deals worth $49.9bn, surpassing competitors Goldman Sachs and Barclays, which came second and third respectively in terms of value.

According to GlobalData, which uses its tracking of all merger and acquisition, private equity/venture capital and asset transaction activity around the world to compile the league table, Goldman Sachs was involved in eight deals worth a total $46.4bn, while Barclays worked on three deals with a combined value of $36.5bn.

Marathon Petroleum’s acquisition of Andeavor for $35.6bn was recorded as the quarter’s top deal for the industry.

Prakhar Baghmar, Financial Deals Analyst at GlobalData, said: “Morgan Stanley’s involvement in three transactions worth more than $10bn in addition to a few smaller deals, helped it gain the top spot.”

Goldman Sachs and Evercore Partners emerged as the leading players by volume with eight deals each, followed by Morgan Stanley and Macquarie Group with seven deals each.

Global Oil & Gas deals market Q2 2018

The total global Oil & Gas deals market has experienced an almost 60% jump in year on year value but a 12.64% drop in volumes. Deal value for the quarter was $82.3bn compared to $51.6bn in Q2 2017. On the volume front, this quarter recorded 311 deals, 45 less than in Q2 2017.

All announced deals count towards the league table compiled by GlobalData.

The top two players in the Oil & Gas league table of M&A financial advisers held the same ranking in the global league table of the top 20 M&A financial advisers released by GlobalData recently.

Top legal advisers for oil and gas deals globally revealed

American law firm Sullivan & Cromwell fared the best in the list of the top 10 M&A  legal advisers for Oil & gas deals in Q2 2018, with four transactions worth $45.7bn. The $35.6bn Andeavor acquisition is the most significant deal it worked on.

With nine deals worth a total of $38.8bn, Jones Day stood second, while Cleary Gottlieb, with three deals worth $35.6bn, finished third.

In terms of volumes, Jones Day tops the list with nine deals.