Oil & Gas

US oil & gas industry M&A deals total $54.76bn in Q3 2020

US oil & gas industry M&A deals total $54.76bn in Q3 2020

Total oil & gas industry M&A deals in Q3 2020 worth $54.76bn were announced in the US, according to GlobalData’s deals database.

The value marked an increase of 674.5% over the previous quarter and a rise of 169.8% when compared with the last four-quarter average of $20.3bn.

The US held a 46.4% share of the global oil & gas industry M&A deal value that totalled $117.93bn in Q3 2020.

In terms of deal activity, the US recorded 124 deals during Q3 2020, marking a rise of 30.5% over the previous quarter and a drop of 16.2% over the last four-quarter average.

The US oil & gas industry M&A deals in Q3 2020: Top deals

The top five oil & gas industry M&A deals accounted for 92.01% of the overall value during Q3 2020.

The combined value of the top five oil & gas M&A deals stood at $50.38bn, against the overall value of $54.76bn recorded for the month.

The top five oil & gas industry deals of Q3 2020 tracked by GlobalData were:

  • 7-Eleven’s $21bn acquisition of Speedway
  • The $13bn acquisition of Noble Energy by Chevron
  • Berkshire Hathaway Energy’s $9.7bn acquisition of Dominion Carolina Gas Transmission, Dominion Cove Point LNG, Dominion Energy Transmission, Iroquois Gas Transmission System and Dominion Energy Questar Pipeline
  • The $5.35bn merger of Devon Energy and WPX Energy
  • Orion Mine Finance’s asset transaction with Occidental Petroleum for $1.33bn.
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