Insight
Global upstream M&A: 2017 in review
Report summary
For upstream M&A, 2017 started as 2016 had ended – with a blaze of activity. Permania was in full flow; the Canadians consolidated, and private equity led a revolution in Europe. Though the intense start was not sustained, FY17 M&A spend still hit its highest level since 2014. In this Insight, we provide an in-depth analysis of the global upstream M&A market in 2017, looking at buyers, sellers, regional activity, valuations and more.
Table of contents
- 2017Corporate highlights
-
Regional breakdown
- United States: Permania fades
- Big appetite for non-core assets
- Canada: domestics double-down
- Europe: M&A transforms the corporate landscape
- Private equity leads corporate revolution
- Russia and Caspian: Pivot east
- Africa: pre-development projects attract Major attention
- Asia Pacific: late year pickup in activity
- Latin America: NOCs successfully attracting partners
-
Valuations
- Contingent payments
- Deal Pipeline
-
Appendix 1: Activity by peer group
- Majors
- Acquisitions
- Disposals
- NOCs (including state-owned entities and sovereign wealth funds)
- Acquisitions
- Disposals
- Independents (Corporate Service Large and Mid Caps)
- Independents (Other Public E&Ps)
- Acquisitions
- Disposals
- Corporate exits
- Notable asset disposals
- Private / Private equity
- North America – selling Permian, buying elsewhere
- Europe – private-backed deal activity erupts
- Rest of the World – PE activitymore restrained
- Others
-
Appendix 2: Resource type and theme
- Primary resource type
- LNG
- Deepwater
- North American unconventionals
- Tight oil
- Unconventional gas
- Canada oil sands
- Appendix 3: Quarterly market trends
- Appendix 4: Additional charts and tables
-
Appendix 5: Methodology
- Scope of coverage
- Implied Long-Term Oil Price Methodology
- Benefits of the Implied Long-Term Oil Price Methodology
- M&A Service
Tables and charts
This report includes 43 images and tables including:
- 2017 upstream M&A spend by primary deal location and buyer peer group
- Net M&A spend by company: top 15 buyers and sellers
- Annual upstream M&A deal count, by region
- Annual upstream M&A deal spend, by region
- Movement in regional M&A spend, year-on-year
- Weighted average Implied Long-Term Oil Price (deal-by-deal) vs. Brent oil price
- No. of deals in Pipeline by region/resource
- Value of deals in Pipeline by region/resource
- Asset deals – quarterly disclosed spend
- Corporate deals – quarterly disclosed spend
- Deals with spend greater than US$1 billion in 2017
- Top ten unconventional resource weighted deals in 2017
- Top ten Majors disposals in 2017
- Annual spend, by buyer peer group
- Annual spend, by seller peer group
- Annual upstream M&A deal spend, by deal type
- Monthly upstream M&A deal spend, by deal type
- 2017 acquisitions and disposals, by peer group
- Net A&D, by peer group – 2016 vs. 2017
- Valuation band, by count
- Valuation band, by spend
- Monthly deal count, by region (three month trailing average)
- Monthly deal count, outside of North America (three month trailing average)
- Disclosed monthly upstream acquisition expenditure, by deal type
- 2017 global upstream M&A spend by primary country, highlighting ten largest deals by value
- Contingent payment and 'equity for assets' deals since 2015 (US$ billion)
- Majors A&D, by company
- Majors resource traded, by primary resource
- NOC A&D, by primary region
- NOC overseas investment, by NOC origin
- IOCs A&D, by primary region
- IOCs resource traded, by primary resource
- North America peer group net spend 2016
- North America peer group net spend 2017
- RoW peer group net spend 2016
- RoW peer group net spend 2017
- Top ten North American private/PE-backed acquisitions
- Resource volume traded
- Spend by primary resource (oil, gas or mixture)
- Annual upstream M&A spend in NA uncons
- Annual upstream M&A spend in NA tight oil plays
- Implied Long-Term Oil Price vs. Traditional 'US$ per barrel' metrics
What's included
This report contains:
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