Insight

Australasian upstream M&A – US$10 billion on the market, another US$17 billion to come

30 September 2020

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30 September 2020

Australasian upstream M&A – US$10 billion on the market, another US$17 billion to come

Report summary

The oil price crash has sharpened operators’ strategies and mindsets to be more resilient through the oil price cycles. With US$10 bn of upstream assets already on the market, we see another US$17 bn being propelled onto the M&A market. We have identified three reasons driving operators to clear out portfolios - portfolio rationalisation, deleveraging balance sheets and the pace of the energy transition.

Executive summary
US$10 billion of assets in the current pipeline
Portfolio rationalisation - an ongoing theme
Deleveraging the balance sheet
Energy transition - a driver for change
The perennial question: who are the buyers?
Where next for the M&A market?
Appendix

Tables and charts

This report includes 6 images and tables including:

Key asset sales announced in the Australasian region
Potential asset sales, farm-downs or divestments that could come onto the M&A market
Carbon intensity of the Majors in the Australasian region (between 2020 and 2025)