For the second quarter of 2019, the United Kingdom has announced a total of 31 deals worth $6.64bn compared to the last four-quarter average of 41 deals.
According to Offshore Technology, M&A was the leading category in the quarter with 27 deals which accounted for 87.1% of all deals. In second place was private equity with three deals, followed by venture financing with one transaction, respectively accounting for 9.7% and 3.2% of overall deal activity in the country’s oil & gas industry during the quarter.
Also, in terms of the value of deals, M&A was the leading deal category in the UK oil & gas industry with total deals worth $4.83bn, while private equity and venture financing deals totaled $1.8bn and $7.84m, respectively.
The M&A value marked an increase of 394.3% over the previous quarter and a rise of 59.7% when compared with the last four-quarter average of $3.02bn.
The UK held a 3.6% share of the global oil & gas industry M&A deal value that totaled $135.96bn in Q2 2019.