Insight
Global upstream M&A: H1 2018 review and outlook
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Where are all the deals? The oil price is at a multi-year high. Companies are flush with cash. But deal flow hasn't been this threadbare since 2015 – a year in which the oil price closed in on US$30/bbl. Though higher oil prices tend to lead to more upstream M&A, the speed and nature of this year’s price rise has caused uncertainty. Most companies are still operating under a “lower for longer" mantra. Despite the discipline shown in H1, we expect to see more M&A activity in the second half of the year. In this M&A market review and outlook: We analyse global and regional trends in upstream M&A during H1 2018. We look at deal flow, deal spend, peer groups, resource themes and valuations. We highlight what to look out for in the second half of the year.
Table of contents
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Global trends
- Valuations
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Regional review and outlook
- North America
- North American highlights
- Tight oil
- Unconventional gas
- Heavy oil
- Gulf of Mexico
- Corporate landscape
- Rest of the World
- 8 more item(s)...
- Appendix 1 – additional charts and tables
Tables and charts
This report includes the following images and tables:
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H1 2018 dealsH1 2018 M&A deal countH1 2018 M&A deal spend
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H1 2018 deal count compared to historical benchmarksH1 2018 disclosed consideration compared to historical benchmarks (adjusted for Shell-BG)M&A Half YearUS$500 million transactions H1 2018Weighted average Implied Long-Term Oil Price vs. Brent oil price vs. deal countM&A spend by regionResource tradedM&A spend by deal categoryWM 2P reserves traded by region
- 22 more item(s)...
What's included
This report contains:
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