Total oil and gas industry M&A deals in Q2 2020 worth USD 23.95 billion 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 USD 76.8 billion.
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 USD 11.29 billion. At the country level, the United Arab Emirates topped the list in terms of deal value at USD 10.12 billion.
In terms of volumes, North America emerged as the top region for oil and 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 USD 50.83 billion 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 and gas industry M&A deals accounted for 69.4% of the overall value during Q2 2020.
The combined value of the top five oil and gas M&A deals stood at USD 16.62 billion, against the overall value of USD 23.95 billion recorded for the month.
The top five oil and 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 USD 10.1 billion acquisition of ADNOC Gas Pipeline Assets.
- The USD 5 billion asset transaction with BP by Ineos Group.
- Total’s USD 575 million asset transaction with Tullow Uganda and Tullow Uganda Operations.
- The USD 541 million asset transaction with Royal Dutch Shell by National Fuel Gas.
- TPG Sixth Street Partners’ acquisition of Antero Resources for USD 402 million.