Insight

Global Upstream M&A: 2015 in review

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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Upstream M&A was put on hold in 2015 as the oil price stayed "lower-for-longer". Deal count fell 40% year-on-year. Shell's US$82 billion acquisition of BG was memorable, but easily outstripped the disclosed spend on every other deal combined.   In this Insight, we provide an in-depth analysis of the global upstream M&A market in 2015, looking at buyers, sellers, regional activity, valuations and more. For an explanation of why we think the upstream M&A market will recover this year, see upstream M&A: 2016 outlook.

Table of contents

  • 2015 overview
  • Regional breakdown
  • Valuation
    • Corporate breakdown
      • Shell/BG
      • Majors
      • Independents
      • NOCs
      • Other buyers
      • Resource type
        • Oil versus gas
        • LNG
        • Unconventionals
          • North American tight oil
          • Unconventional gas
          • Canada
          • Elsewhere
          • Quarterly market trends
          • Deal type and size
            • Corporate versus asset spend
            • Deal size
          • Terminated deals
          • Deal Pipeline
          • 4 more item(s)...

Tables and charts

This report includes the following images and tables:

  • 2015 upstream M&A spend by primary deal location and buyer peer group (Shell/BG separate)
  • Annual global upstream M&A deal count, by region
  • Monthly global upstream deal count, by region
  • Movement in regional M&A spend, year-on-year
  • 2015 global upstream M&A spend by primary country, highlighting ten largest deals by value
  • Weighted average Implied Long-Term Oil Price (deal-by-deal) vs. Brent oil price
  • Net M&A spend by company: top 15 buyers and sellers
  • Global Upstream M&A: 2015 in review: Image 9
  • IOC net spend (adj. for +$10bn deals)
  • NOC overseas investment in M&A, by NOC origin
  • Extended peer group net spend 2014
  • Extended peer group spend 2015
  • 24 more item(s)...

What's included

This report contains:

  • Document

    global upstream manda- 2015 in review.pdf

    PDF 1.53 MB