Total oil and gas industry deals for the second quarter of 2020 were worth $28 billion, according to a July 29 report from GlobalData. The value marked an increase of 106 percent over the previous quarter and a drop of 68 percent when compared with the last four-quarter average of $88 billion. In terms of number of deals, the sector saw a drop of 30 percent over the last four-quarter average, with 405 deals against the average of 583 deals. In value terms, Middle East and Africa led the activity with deals worth $11.3 billion. The top five oil and gas deals accounted for 64 percent of the overall value during Q2 2020. The combined value of the top five oil and gas deals stood at $17.8 billion, against the overall value of $28 billion recorded for the month.
The top five oil and gas industry deals of Q2 2020 tracked by GlobalData:
- Brookfield Asset Management, GIC, Global Infrastructure Management, NH Investment and Securities, Ontario Teachers’ Pension Plan and Snam’s $10 billion acquisition of ADNOC Gas Pipeline Assets
- The $5 billion asset transaction with BP by Ineos Group
- Bluescape Energy Partners, Elliott Management and Fidelity Management and Research’s $1.4 billion private equity deal with CenterPoint Energy
- The $750 million private equity deal with DoublePoint Energy by Apollo Global Management, Double Eagle Energy Holdings, FourPoint Energy, Magnetar Capital, and Quantum Energy Partners
- Total’s asset transaction with Tullow Uganda and Tullow Uganda Operations for $575 million.