White & Case and Kirkland & Ellis have emerged as the top mergers and acquisitions (M&A) legal advisers in the oil and gas sector for 2023 based on deal value and volume, respectively, according to GlobalData’s latest league table.
GlobalData, a leading data and analytics company and the parent company of Offshore Technology, ranks advisers by the value and volume of M&A deals on which they advised.
Analysis of GlobalData’s Deals Database has shown that White & Case secured the top spot by advising on deals worth $96.5bn.
In terms of volume, Kirkland & Ellis was at the top with a total of 48 deals.
GlobalData lead analyst Aurojyoti Bose said: “Both White & Case and Kirkland & Ellis witnessed improvements in respective ranking by value and volume in 2023. While White & Case went ahead from occupying the fourth position by value in 2022 to top the chart in 2023, Kirkland & Ellis improved its ranking by volume from second position in 2022 to the top spot in 2023.
“Kirkland & Ellis also witnessed marginal improvement in terms of deal volume whereas White & Case recorded around a three-fold jump in the total value of deals advised by it in 2023 compared with 2022. This jump was primarily driven by some of the high-value transactions White & Case advised on. It advised on eight billion-dollar deals in 2023 that also includes a deal valued at more than $50bn.”
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Paul, Weiss, Rifkind, Wharton & Garrison followed closely in terms of deal value, advising on transactions amounting to $91.9bn.
Gibson, Dunn & Crutcher with deals worth $82.1bn, Fried, Frank, Harris, Shriver & Jacobson with $72.9bn and Davis Polk & Wardwell with $72.6bn were in third, fourth and fifth position.
In terms of volume, Vinson & Elkins claimed second position with 41 deals.
White & Case also featured prominently in this metric with 21 deals, matching the volume of deals advised by both Gibson, Dunn & Crutcher and Latham & Watkins.
GlobalData’s league tables are based on the real-time tracking of thousands of company websites, advisory company websites and other reliable sources available in the secondary domain. A dedicated team of analysts monitors all these sources to gather in-depth details for each deal, including adviser names.
To ensure further robustness of the data, the company also seeks deal submissions from leading advisers.