Global oil & gas industry M&A deals total $23.95bn in Q2 2020

The value increased 114.2% over the previous quarter, but a drop of 68.8% compared to the previous four-quarter average

M&A, Deals, GlobalData, Acquisition

Total oil & gas industry M&A deals in Q2 2020 worth $23.95bn were announced globally, according to GlobalData’s deals database.

The value marked an increase of 114.2% over the previous quarter and a drop of 68.8% when compared with the last four-quarter average, which stood at $76.8bn.

Comparing deals value in different regions of the globe, Middle East and Africa held the top position, with total announced deals in the period worth $11.29bn. At the country level, the United Arab Emirates topped the list in terms of deal value at $10.12bn.

In terms of volumes, North America emerged as the top region for oil & gas industry M&A deals globally, followed by Asia-Pacific and then Europe.

The top country in terms of M&A deals activity in Q2 2020 was the US with 83 deals, followed by China with 33 and Canada with 21.

In 2020, as of the end of Q2 2020, oil & gas M&A deals worth $50.83bn were announced globally, marking a decrease of 79% year on year.

Oil & gas industry M&A deals in Q2 2020: Top deals

The top five oil & gas industry M&A deals accounted for 69.4% of the overall value during Q2 2020.

The combined value of the top five oil & gas M&A deals stood at $16.62bn, against the overall value of $23.95bn recorded for the month.

The top five oil & gas industry deals of Q2 2020 tracked by GlobalData were:

  • Brookfield Asset Management, GIC, Global Infrastructure Management, NH Investment & Securities, Ontario Teachers’ Pension Plan and Snam’s $10.1bn acquisition of ADNOC Gas Pipeline Assets
  • The $5bn asset transaction with BP by Ineos Group
  • Total’s $575m asset transaction with Tullow Uganda and Tullow Uganda Operations
  • The $541m asset transaction with Royal Dutch Shell by National Fuel Gas
  • TPG Sixth Street Partners’ acquisition of Antero Resources for $402m.

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