Related Articles
Forward article link
Share PDF with colleagues

Global oil and gas M&A deal count showing signs of life

The number of global mergers and acquisitions in the oil and gas industry in the third quarter reached 112 – up from 76 in the first quarter, but was still down from 142 in the second quarter and 149 a year ago, according to the information vendor PLS and Derrick Petroleum Services. But third-quarter deal value amounted to just $21bn, compared with $42bn in the year-earlier period. PLS said the improvement since the first quarter was the result of signs of global economic recovery, the stabilisation of oil prices in the $65-75 a barrel range and the sudden drop of US gas prices a month ago towards $2.50/'000 cubic feet – signalling a buying opportunity.

Also in this section
Canadian oil firms fight back
13 August 2020
The sector’s biggest companies staunched some of their losses across the second quarter, but the results still made for depressing reading
Pemex debt strategy at risk of unravelling
30 July 2020
The Mexican firm had made some progress arresting its hefty debt pile, but the economic downturn and government obsession with upstream targets has started to take its toll
US domestic M&A sent reeling
28 July 2020
Deal-making across the oil and gas patch has slowed to a crawl despite a swathe of potential devalued assets and strained companies eager to divest