The global upstream industry recorded 63 mergers and acquisitions (M&A) totalling $10.7bn in value in May 2017, according to a report by GlobalData.
Titled ‘Monthly Upstream Deals Review – May 2017’, the report provides an overview of the M&A activity during the month.
A total of 13 deals among the 63 were valued at more than $100m and totalled $10.1bn, whereas April 2017 recorded eight deals of more than $100m value and totalling $7bn.
The Americas region witnessed the highest M&A activity globally with 45 deals, representing 71% of the total deals in the month. In terms of value, the EMEA region had the highest value of $6.5bn, or 61% of the total M&A value.
The top M&A registered during the month was Neptune Oil & Gas’ acquisition of 70% stake in Engie Exploration & Production from Engie for approximately $5.11bn.