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U.S. oil & gas industry M&A deals total $90.57bn in Q2 2019


U.S. Oil & gas industry M&A deals total $90.57bn in Q2 in 2019

According to GlobalData’s deals database, the total M&A deals in Q2 2019 for U.S. oil and gas industry announced is worth $90.57bn.

This marks about a 450% increase over Q1. The US held a 66.6% share of the global oil & gas industry M&A deal value that totaled $135.96bn in Q2 2019.

As reported by Offshore Technology, the US recorded 136 deals during Q2 2019, marking a drop of 29.2% over the previous quarter and a drop of 39.01% over the last four-quarter average.

The top five oil & gas industry M&A deals accounted for 86.2% of the overall value during Q2 2019. The combined value of the top five oil & gas industry M&A deals stood at $78.1bn, against the overall value of $90.57bn recorded for the quarter.

The top announced oil & gas industry M&A deal tracked by GlobalData in Q2 2019 was Occidental Petroleum’s $57bn acquisition of Anadarko Petroleum.

In second place was the $14bn acquisition of Andeavor Logistics by MPLX and in third place was Parker Hannifin’s $3.68bn acquisition of LORD. The $2.2bn acquisition of Covey Park Energy by Comstock Resources and Murphy Oil’s asset transaction with LLOG Bluewater Holdings and LLOG Exploration Offshore for $1.23bn held fourth and fifth positions, respectively.

Source Offshore Technology
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