The total value of oil and gas industry merger-and-acquisition deals in the United States during the third quarter of 2020 reached a figure of $54.8 billion, according to industry analyst firm GlobalData, citing its deals database. The value marked an increase of 674 percent over the previous quarter and a rise of 170 percent when compared with the last four-quarter average of $20.3 billion.
The United States held a 46 percent share of the global oil and gas industry M&A deal value that totalled $117.93 billion in Q3 2020. In terms of deal activity, the United States recorded 124 deals during Q3 2020, marking a rise of 30.5 percent over the previous quarter and a drop of 16.2 percent over the last four-quarter average.
The top five oil and gas industry M&A deals accounted for 92.01 percent of the overall value during Q3 2020. The combined value of the top five oil and gas M&A deals stood at $50.38bn, against the overall value of $54.76bn recorded for the month.
The top five oil and gas industry deals of Q3 2020 tracked by GlobalData were:
- 7-Eleven’s $21 billion acquisition of Speedway
- The $13 billion acquisition of Noble Energy by Chevron
- Berkshire Hathaway Energy’s $9.7 billion acquisition of Dominion Carolina Gas Transmission, Dominion Cove Point LNG, Dominion Energy Transmission, Iroquois Gas Transmission System and Dominion Energy Questar Pipeline
- The $5.35 billion merger of Devon Energy and WPX Energy
- Orion Mine Finance’s asset transaction with Occidental Petroleum for $1.33 billion
