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GlobalData: upstream oil and gas M&A and capital raising values totalled US$47.9 billion in Q4 2018

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Oilfield Technology,

A total of 305 deals with a combined value of US$47.9 billion were registered in the upstream oil and gas industry in Q4 2018, according to GlobalData. Of the total value, US$27.3 billion was registered in mergers and acquisitions (M&A) in Q4 2018, representing a significant decrease of 41% from the US$46.2 billion in M&A deals announced in Q3 2018. On the capital raising front, a total value of US$20.6 billion in capital raising was announced in the upstream sector in Q4 2018, a decrease of 43% from the US$36 billion in capital raising announced in the previous quarter.

The company’s latest report: ‘Quarterly Upstream M&A and Capital Raising Deals Review – Q4 2018’ states that a total of 120 M&A deals, with a combined value of US$7.9 billion, were recorded in the conventional segment, and 53 deals, with a combined value of US$19.4 billion, were recorded in the unconventional segment, in the quarter.

Of the total M&A deals, 104 deals, with a combined value of US$14.4 billion, were domestic acquisitions and the remaining 69, with a combined value of US$12.9 billion, were cross-border transactions. A quarter-on-quarter comparison shows a substantial decrease in domestic transaction values in Q4 2018, compared to US$39.1 billion in Q3 2018. However, cross-border transaction values increased substantially by 82% in Q4 2018 compared to US$7.1 billion in Q3 2018.

Capital raising, through debt offerings, witnessed a decrease of 48% in deal value, recording US$16.7 billion in Q4 2018, compared with US$31.9 billion in Q3 2018. The number of debt offering deals also decreased by 48% from 54 in Q3 2018 to 28 deals in Q4 2018.

Capital raising, through equity offerings, registered a decrease of 11% in the number of deals and an increase of 33% in deal value with 93 deals, of a combined value of US$3.2 billion, in Q4 2018, compared with 105 deals, of a combined value of US$2.4 billion, in the previous quarter. 11 private equity/venture capital deals, with a combined value of US$708.3 million, were recorded in the upstream industry in Q4 2018, compared with 14 deals, with a combined value of US$1.7 billion, in Q3 2018.

Americas remained the frontrunner for M&A and capital raising, registering 104 M&A deals, with a total value of US$21.8 billion; and 57 capital raising transactions worth US$6.5 billion in Q4 2018. EMEA registered 50 M&A deals of a combined value of US$3 billion, and 33 capital raising deals worth US$10.7 billion; while APAC registered 19 M&A deals of a combined value of US$2.6 billion and 42 capital raising deals worth US$3.3 billion in Q4 2018.

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